More than 1,000 banks will test their incident response strategies by participating in a simulated cyber-attack exercise. SWACHA's Dennis Simmons says the drill, which is open to more participants, will help bolster defenses.
Phishing attempts against bank employees are on the rise. How can institutions improve their defenses? Daniel Ingevaldson of Easy Solutions offers insights on how to combat advanced phishing techniques.
In the wake of a year of attacks waged against banking institutions by Izz ad-Din al-Qassam Cyber Fighters, the FS-ISAC's Bill Nelson and the ABA's Doug Johnson say the need to regularly update DDoS preparedness is a critical lesson learned.
When building a business continuity plan, banking institutions too often overlook certain key processes that must be maintained after a cyber-attack or a disaster, says Dan Shannon of core banking processor FIS.
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.
Banking institutions have done a poor job of educating consumers about payments fraud prevention, says Aite analyst Shirley Inscoe. "Banks need to figure out how to communicate with consumers in a way consumers understand."
The old saw of a blind squirrel fortuitously finding an acorn reminds the Atlantic Council's Jason Healey of cyber-assailants from third-rate cyber-power Iran, believed to be behind DDoS attacks on U.S. banks.