U.S. Attorney Steve Wiggington says identity theft, especially linked to card skimming, is still the No. 1 fraud threat facing financial services institutions as well as consumers. He stresses information sharing is critical for fighting fraud.
Organizations need to know how other enterprises handle cyber-attacks to truly understand whether their IT security investments will pay off, the EastWest Institute's Karl Rauscher says.
Every second, 80 "things" are being connected to the Internet, and ISACA's Rob Stroud says that requires information security professionals to identify and mitigate threats, protect individuals' privacy and manage access.
New requirements to mitigate payment card risks posed by third parties, such as cloud providers and payment processors, are a focal point of the PCI Security Standards Council's updated data security standard.
Inadequate authentication is among the greatest security challenges for online payments, says Scott Dueweke of Booz Allen Hamilton, who suggests biometrics needs to play a bigger role.
For years, researchers have studied malicious insider threats. But how can organizations protect themselves from insiders who make a mistake or are taken advantage of in a way that puts the organization at risk?
The good news is: U.S. banks have learned valuable security lessons from defending against recent distributed-denial-of-service attacks. The bad news? DDoS has evolved into new and improved assaults.
Rather than waiting until they're a breach victim, organizations should reach out to law enforcement officials to develop a good working relationship in battling cybercrimes, federal prosecutor Erez Liebermann says.
Organizations must develop a "defensible response" to data breaches and fraud incidents because of the likelihood of a regulatory investigation or legal action, says attorney Kim Peretti, a former Department of Justice cybercrime prosecutor.
The average insider scheme lasts 32 months before it's detected, says threat researcher Jason Clark, who suggests using a combination of the right technologies and the right processes is the key to improving detection.
Banking institutions and merchants are fighting back against cyber-attacks by sharing information and assisting law enforcement investigations, says Julie Conroy of Aite, which has issued a report about account takeover and cyberfraud trends.
To mark his induction into the National Cyber Security Hall of Fame, Purdue University Computer Science Professor Eugene Spafford offers insights on key challenges, including overcoming senior executives' misperceptions about key issues.
Face-to-face and over-the-phone social-engineering schemes are increasingly used to perpetrate fraud, highlighting the need for more education and real-time transaction monitoring, says Gartner's Avivah Litan.
Knowledge-based authentication is no longer reliable, says fraud expert Avivah Litan, an analyst at Gartner. She explains why so-called behavioral authentication is the only reliable way to verify users.
Attacks waged for cyber-espionage, fraud, DDoS and other nefarious deeds are increasingly being hired out to sophisticated hackers for specific purposes, says Symantec researcher Kevin Haley.
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