$209 million dollars. That’s the amount of money criminals made in the first three months of 2016 through the deployment of ransomware—a type of malware that locks a computer or other connected device until the affected party pays up, and which is becoming more and more popular as a choiceRead More
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The topic that has been on everyone’s minds this week, aside from the next act in Wells Fargo’s little drama, is cybersecurity. It’s one of those things that businesses of all kinds are constantly thinking about, but only makes a public appearance when something has gone horribly, horribly wrong. LikeRead More
The first video banking call crossing the Atlantic took place this week. A new virtual assistant (TouchAssist) and a new personal finance chatbot (Trim) both launched yesterday. Facebook Messenger recently reached 1 billion users — and 18,000 bots. There are more ways for customers to talk to banks than everRead More
‘Cloud’ used to be a scary word in banking — but as the services offered by Amazon, IBM and others grow more sophisticated, both bankers and regulators are learning to love the cloud. Banks have generally been reluctant to move important information from in-house environments to the cloud, but that couldRead More
Hold on, don’t open that email. Hackers have known for years that bank employees are the best way to gain access to bank’s system. All a bad guy has to do is send an inviting email and trick the employee into opening it. A nefarious new approach has come to theRead More
As Apple Pay grows in popularity and the novelty of it wears off, what comes next? Unfortunately, it might just be fraud, according to Mary Ann Miller, senior director and fraud analytics executive at NICE Actimize.
Bank systems are generally thought to be safe from the direct effects of the Heartbleed bug, according to security experts, but the galaxy of vendors and service organizations — to say nothing of employee devices — are another matter. The Heartbleed exploit refers to a weakness in OpenSSL, an authorizationRead More
Citibank announced this week that it will open an accelerator for financial startups in Israel. The bank is already heavily invested in the country, with a technology innovation center that opened in September 2011, and a data intelligence lab that opened in April 2013. The accelerator will accept 5 toRead More
At a time when many banks are finally easing up their social media policies for employees, at least one security firm is warning that the social media profiles of bank staffers are providing valuable information to those seeking to do banks harm. Bank websites are well-protected from attempts to breakRead More
In this era of increasing fraud, customers are rightly concerned about the safety of their financial accounts. This concern becomes problematic for financial institutions when security fears suppress use of banks’ online and mobile offerings. In the wake of last week’s exposure of a massive credit card fraud ring, customersRead More