A new infographic published by the ABA Foundation and the Federal Trade Commission alerts consumers to the growing threat of online data scams and provides tips for how they can protect themselves.
Browsing: Cyber crime
The nation’s banks stopped nearly $17 billion in fraudulent transactions in 2016 — a figure that represents a substantial increase since 2014 in attempted fraud, when the industry stopped $11 billion — according to ABA’s 2017 Deposit Account Fraud Survey Report released today.
New regulations and recent data breaches have elevated banks’ concerns about risk management, according to the Regulatory and Risk Management study by Wolters Kluwer released today.
While the financial system is more resilient today than in the years before the financial crisis, new vulnerabilities — including market risk and cyber risk — continue to pose threats to financial stability, the Office of Financial Research said in its financial stability report released today.
The number of companies reporting fraud attempts leaped from 42 percent in 2016 to 67 percent in 2017, according to an annual fraud study by fraud prevention vendor IDology.
How regulators expect banks to handle the Equifax breach from a third-party risk management perspective.
As the House Financial Services Committee today held a hearing on data security, the American Bankers Association and six financial trade associations wrote to lawmakers calling for a national data security and breach notification standard.
With high-profile data breaches continuing to make headlines, the American Bankers Association has endorsed the data breach services offered by CyberScout to help banks stay a step ahead of the growing threat.
As the Equifax data breach — which affected an estimated 143 million Americans — continues to dominate the headlines, ABA has made available several resources for member banks to use as they field inquiries from their customers and the press.
A bipartisan group of lawmakers yesterday called for greater coordination on cybersecurity regulations among federal financial services regulators.