Mobile banking, social media, cloud computing. These all are part of the global banking landscape today, and with these innovations come new expectations, says Alessandro Moretti of (ISC)2 and UBS Investment Bank.
A preliminary draft of new authentication guidance puts greater responsibility on financial institutions, and the ACH/wire fraud case between Experi-Metal Inc. and Comerica Bank marks the first major corporate account takeover incident to hit a courtroom.
Tom Oscherwitz says consumers put themselves at risk by giving out too much personal information that is often used for online banking log-in credentials.
Visa says a move toward EMV can help merchants cut PCI compliance costs, and SWIFT says globalization, regulation and the introduction of new services from non-financial providers will set the tone for payments 2011.
Visa's Eduardo Perez, head of Global Payment System Security, says the EMV chip is an ideal dynamic data technology, but mobile and others offer similar security benefits.
Consumer fraud trends suggest banking institutions will lead the fight against ID fraud, and international regulators are taking closer looks cross-border payments and money laundering.
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About Credit Union Information Security Podcast
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Exclusive, insightful audio interviews by our staff with creditunion/security leading practitioners and thought-leaders. Transcripts are also available on our site!