Banks are more trusted than healthcare companies, nonbank payment providers and the government to keep their information secure and private, according to a new ABA/Morning Consult poll—the seventh consecutive time banks have topped the list.
Scams that start on social media have been increasing for years and climbed from $134 million total reported losses in 2019 to $117 million in just the first six months of 2020, the Federal Trade Commission said today.
A coalition of trade groups from the financial, business, and critical infrastructure sectors—including ABA—yesterday urged Congress to improve intelligence sharing between the government and privately-owned infrastructure to address cybersecurity threats.
The ABA Foundation, in collaboration with the Federal Trade Commission, released a new infographic today to educate consumers on impostor scams which disproportionately affect older adults.
The Basel, Switzerland-based Financial Stability Board today issued a toolkit of 49 cyber incident response and recovery practices for financial institutions.
The American Bankers Association, together with nearly 1,500 banks serving the vast majority of retail bank customers in the U.S., today launched a first-of-its kind, industry-wide campaign to educate consumers about the persistent threat of phishing scams.
With the Federal Trade Commission estimating that American’s lost $1.48 billion to phishing scams in 2018, ABA Vice Chairman Scott Anderson, president and CEO of Zions Bank, urged consumers to be vigilant and protect themselves when browsing online.
With Cybersecurity Awareness Month coming up in October, ABA and banks nationwide are preparing to launch the largest consumer education campaign in ABA’s history: #BanksNeverAskThat.
Cybersecurity in the financial sector is becoming more integrated with the IT functions, according to a survey of chief information security officers released recently by Deloitte and the Financial Services Information Sharing and Analysis Center.
As consumer expectations expand to include an anywhere, anytime, any-device type of mindset, multichannel support and interactive communication features become increasingly important.