The Department of Labor’s Employee Benefits Security Administration today issued long-anticipated guidance on cybersecurity and best practices for protecting retirement benefits.
A new proposal by the federal banking agencies requiring that banks notify their primary regulator within 36 hours after developing a good-faith belief of a “computer-security incident” or “notification” incident could impose a significant reporting burden, ABA and three other financial trades cautioned in a letter yesterday.
New standards designed for the digital era would strengthen security, prevent fraud and finally give consumers more control over their money.
The American Bankers Association Foundation and the Federal Trade Commission today released a new infographic highlighting the problem of government imposter scams.
As the COVID-19 pandemic turns one, bankers and cyber experts reflect on the rapid rise of scams and fraud schemes aimed at banks and their customers.
Scams involving business email compromise—through which fraudsters target businesses and their fund transfers— were flagged by banks as the greatest business risk over the next two years, according to a survey from consulting firm Strategic Treasurer and payment company Bottomline.
The amount of money consumers reported losing to romance scammers has increased by 50% since 2019 and has risen more than fourfold since 2016, the Federal Trade Commission said today.
Criminals do not need to bother scouring the depths of the dark web to dig up this personal information. Too often, it’s sitting out in the open for all to see.
Bankers believe that cybersecurity threats will present the greatest challenge to the financial industry in 2021, according to a recent survey of banking executives conducted by core technology provider CSI.
What’s top of mind for community bank risk managers in 2021? Kristina Schaefer provides an overview of what’s on her radar screen as chief risk officer and general counsel at First Bank and Trust.