The Federal Reserve on Jan. 26 revealed its roadmap for an overhaul of the U.S. payments system, which includes plans for faster settlement and a focus on improving payments security to reduce fraud.
After a long legal battle, Choice Escrow and Land Title LLC and Mississippi-based BancorpSouth have finally settled a $440,000 account takeover case. Learn how one final issue was resolved.
A Tennessee utility has sued its bank after a $327,000 account takeover incident. This new case shows why institutions must go above and beyond when it comes to detecting and thwarting fraud losses.
For the first time in its decade-long history, the Federal Reserve's triennial Payments Study includes fraud data. The Fed's Jim McKee says these findings set a baseline about U.S. card fraud trends.
Choice Escrow is seeking a bench review of a recent appellate court ruling, which favored its former bank in an ACH fraud dispute. The firm argues the court set a bad precedent for future disputes by limiting Uniform Commercial Code protections.
FFIEC guidance and case law are helping banks define what constitutes "reasonable security." In a panel discussion, three experts debate the long-term impact of two recent account takeover fraud cases.
A bank's $350,000 settlement with a California oil company should serve as a reminder that reasonable security measures offered by banks are increasingly critical to the outcome of account takeover disputes.
An appellate court ruling in favor of a bank in a dispute over account takeover losses dating back to 2010 has broad implications for financial institutions. Legal experts analyze the case.
Two suits against California's First Foundation Bank raise a number of questions about how to define reasonable security and how banks are expected to react when suspicious account activity occurs.
A lawsuit filed by a now-defunct escrow firm against a bank following a $1.5 million cyberheist will reopen debate over who's responsible when account takeovers lead to fraud.
U.S. banks stopped $9 out of every $10 of attempted deposit account fraud in 2012, according to a new ABA Fraud Survey Report. What are they doing right, and how must they improve fraud prevention in 2014?
Call center fraud is one of the leading threats that financial institutions will battle next year because fraudsters consider the centers to be an easy target. But what can be done to mitigate this threat?
A new takeover scam that the FBI calls a "man-in-the-e-mail" attack has drained $1.65 million from three Seattle-area businesses' accounts. Learn what steps to take to avoid becoming the next victim.
Financial institutions and businesses in other sectors must continually collect information about their online customers to ensure stronger authentication, says Avivah Litan, a fraud expert and analyst for the consultancy Gartner.
Fraud is increasing across the board, but attributing losses to certain types of fraud continues to pose challenges for many banking institutions, says Doug Johnson of the American Bankers Association.
Our website uses cookies. Cookies enable us to provide the best experience possible and help us understand how visitors use our website. By browsing bankinfosecurity.in, you agree to our use of cookies.
