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Bank Info Security 5 months, 1 week ago

How Banks Can Limit Losses From First-Party Fraud

Cadence Bank's Brent Phillips Focuses on Controls for Online Account OpeningFinancial institutions face rising losses from first-party fraud schemes that begin with online account opening. One of the most effective ways to reduce exposure involves practical, risk-based controls that limit how much trust new customers receive before their behavior can be established.

Bank Info Security 7 months, 3 weeks ago

Major US Banks Gauge Their Exposure to SitusAMC Breach

JP Morgan Chase, Citi and Morgan Stanley Among Banking Customers ImpactedMajor U.S. banks are assessing their exposure to a cybersecurity incident at real estate financial technology company SitusAMC, which disclosed Saturday that a breach may have affected client data. The New York firm uncovered the incident on Nov. 12.

Bank Info Security 1 year, 3 months ago

Breach Roundup: A WhatsApp Flaw Ushered in Spyware

Also: France Temporarily Lifts Pavel Durov's Travel Ban Amid Telegram ProbeThis week, Paragon Solutions spread through WhatsApp, France suspended Pavel Durov's travel ban, Vapor malware hit 60M Android users, state-backed hackers exploit a Windows flaw, Western Alliance Bank exposed customers data, Apple fixed a passwords bug, and a sperm bank exposed customer information.

Hauling in 30,000 staff IN PERSON to do password resets Breaking Transport for London's ongoing cyber incident has taken a dark turn as the organization confirmed that some data, including bank details, might have been accessed, and 30,000 employees' passwords will need to be reset via in-person appointments.…

When people banking in the United States lose money because their payment card got skimmed at an ATM, gas pump or grocery store checkout terminal, they may face hassles or delays in recovering any lost funds, but they are almost always made whole by their financial institution. Yet, one class of Americans -- those receiving food assistance benefits via state-issued prepaid debit cards -- are particularly exposed to losses from skimming scams, and usually have little recourse to do anything about it.

Fintech provider flaw could have hit dozens of U.S. banks, says Salt Security Salt Security spotted a vulnerability in a large fintech company's digital platform that would have granted attackers admin access to banking systems in addition to allowing them to transfer funds to their own accounts.…