Browsing: Cybersecurity
Obama Launches Cyber National Action Plan
President Obama today signed an executive order launching a Cybersecurity National Action Plan to help the federal government and businesses protect Americans from cyber attacks.
Study: Consumers Want Retailers to Provide Safer Payment Choices
An overwhelming majority — 82 percent — of consumers feel they should have a choice about what type of payment technology they use to make retail purchases, according to a survey released today by the Electronic Payments Coalition.
Report: Costs of Cybercrime on the Rise
The median cost of cybercrime has increased by nearly 200 percent over the past five years — costing the global economy approximately $450 billion each year — and will likely continue to grow, according to a report released yesterday by Hamilton Place Strategies.
Fed Issues Update on Faster Payments Initiative
Having convened stakeholders from across the public and private sectors and outlined criteria for effectiveness, the Federal Reserve’s “faster payments” initiative will in 2016 begin assessing proposals for improvement, begin implementing the ISO 20022 standard for wire transfers and facilitate the transition to universal same-day ACH, according to a Fed report today.
FDIC Publication Covers Cybersecurity, Lending Topics
The lead story in the winter 2015 issue of the FDIC’s Supervisory Insights publication focuses on how banks can enhance their information security programs to address evolving cybersecurity threats and gives an overview of the regulatory response to the recent rise in cybercrime.
Weekly Infobyte: How Do Banks Authenticate Digital Transactions?
Everyone uses a username and password; large shares use out-of-band authentication and challenge questions.
Safe Banking, Savvy Seniors
Bankers are leading the way in protecting older Americans from fraud and financial abuse.
Nichols: ABA ‘Profoundly Disappointed’ in Lack of Reg Relief in Spending Bill
ABA’s Rob Nichols this morning expressed the disappointment and frustration of the banking industry that Congress failed to include meaningful regulatory relief in the negotiated 2016 spending bill that was unveiled overnight.
Weekly Infobyte: Americans Say That Retailers Bear Responsibility for Protecting Customer Data
Voters are twice as likely to say that retailers, not financial institutions, are responsible for protecting customers’ payment data.