Fraudsters continually find new ways to attack, but too many organizations rely on old, unsuccessful methods to detect and prevent fraud. This is the premise, says David Mattos, VP Sales, with Easy Solutions.
While massive DDoS attacks were dominant in 2013, this year, smaller application-layer attacks going after such things as log-in pages and password files are far more common, says Rich Bolstridge, chief strategist, financial services, at Akamai Technologies.
Website security firm CloudFlare is warning organizations worldwide to be on the lookout for an increase in larger DDoS attacks. But these NTP attacks are far less sophisticated than the earlier DDoS attacks that targeted U.S. banks.
The hacktivist group European Cyber Army on Jan. 28 said it waged DDoS attacks against Bank of America and JPMorgan Chase. DDoS-tracking sources say the botnet involved is the same one used for 2012-2013 attacks against U.S. banks.
From new malware to the Target breach, cyber-attacks reached an all-time high in 2013, says Cisco's Annual Security Report. Cyberthreat expert Levi Gundert tells how organizations can regain the advantage in 2014.
While U.S. payments networks and card issuers are planning to transition to EMV cards, Gartner analyst Anton Chuvakin says they could be wasting their time. It may be too late for this chip technology in the U.S.
The NIST cybersecurity framework will help U.S. banking institutions assess their security strategies, but some institutions fear the framework could trigger unnecessary regulations, says Bill Stewart of Booz Allen Hamilton.