A new precedent in ACH and wire fraud liability could be set if Choice Escrow is successful in its appeal to have a lower court's ruling overturned. Legal experts explain why this could prove to be the new benchmark.
Former federal banking examiner Amy McHugh says banks can learn a lot from recent legal decisions and settlements in account takeover cases, including which authentication and online-banking security investments they should make.
How are banking institutions reducing losses linked to account takeover incidents? Bill Nelson of the FS-ISAC describes new approaches institutions are taking to address this lingering fraud problem.
Which fraud trends need the most attention from U.S. banking institutions in 2013? Distributed-denial-of-service attacks and account takeover, says FS-ISAC's Bill Nelson, who offers fraud-fighting tips.
The PATCO Construction fraud settlement still leaves open the question of what responsibilities commercial customers bear when a bank's security procedures are deemed commercially unreasonable.
In a new alert, the OCC says banking institutions should be concerned about fraud attempts linked to recent distributed-denial-of-service attacks on prominent U.S. banks.
The PATCO fraud dispute could have been settled in 2009, says co-owner Mark Patterson. Why did the case drag on, and what can banking institutions and fraud victims learn from PATCO's recent settlement?
An insider fraud scheme at a financial institution highlights how executives with too much power can abuse the system. What steps could have been taken to prevent the losses that ultimately led to this institution's failure?
Nearly five months after an appellate judge urged an out-of-court resolution, People's United Bank and PATCO Construction have reached a financial settlement in their dispute over wire fraud losses.
The future of security in payments remains unclear, says Nicolas Vedrenne of the Merchant Risk Council. But international collaboration will be critical, especially as infrastructures merge.
If President Obama's second term were a movie sequel, I'd call it "Unfinished Business." It's time to step up and see through the cybersecurity initiatives Obama spoke about when he first took office.
Labeling it "a very close call," a U.S. district court has rejected a Mississippi bank's bid to have a former customer held liable for losses, damages and legal costs in an ACH and wire fraud case.
More malware attacks fueled by Citadel and Reveton are getting attention from federal authorities, which say banking institutions and consumers should be on high alert. What can institutions do to mitigate emerging malware risks?
More than a year after issuance of the FFIEC Authentication Guidance, many smaller banking institutions still struggle to conform. How are service providers such as Q2ebanking stepping in to assist?
Jenny Durkan, the U.S. Attorney for the Western District of Washington, is taking a lead role in combatting cyberfraud. Under her leadership, federal prosecutors have upped their efforts to combat ever-increasing threats posed by digital crimes, including card fraud.
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