Department of Labor Issues Cybersecurity Guidance
The Department of Labor’s Employee Benefits Security Administration today issued long-anticipated guidance on cybersecurity and best practices for protecting retirement benefits.
Browsing: Cybersecurity
ABA, Financial Groups Raise Concerns about Cyber Incident Notification Proposal
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.
The New Digital Frontier Calls for Immediate Digital Cash Standards
New standards designed for the digital era would strengthen security, prevent fraud and finally give consumers more control over their money.
ABA Foundation, FTC Release Infographic on Government Imposter Scams
The American Bankers Association Foundation and the Federal Trade Commission today released a new infographic highlighting the problem of government imposter scams.
The Financial Fraud Epidemic
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.
Survey: Banks See Business Email Compromise as Biggest Threat
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.
FTC: Romance Scams Rise 50% Since 2019
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.
Executive Privacy Breaches: Serious Risks for Banks
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.
Survey: Bankers View Cybersecurity Threats as Top Priority for 2021
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.
Podcast: Predicting Bank Risk in an Unpredictable Year
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.