Analytics

To account for the heightened questioning and investigations around the Panama Papers hack, people need to “legal-up” and issuers, financial institutions and processors need to “gear-up” for expected spikes in work related to due diligence, more precise monitoring of transactions, payments and sanctions filtering, possible ad-hoc examination and possible fines.

Unfortunately, as fraud prevention technology advances, so do fraudsters’ tactics. Think of the cat and the mouse. As merchants and financial institutions become better at thwarting traditional fraud techniques, criminals are forced to adapt. The onus is now on the financial institutions and merchants to stay ahead.

As its digital consumer executive, Carrie Sumlin is tasked with making sure Ally Bank offers its customers top-notch digital services since it doesn't have any branches.

Novantas has acquired Chicago-based consulting firm Treasury Strategies.

Open development techniques have contributed to a boom in online and mobile commerce by making it possible for more applications to interact with one another, but now more attention is being devoted to how fraudsters exploit these systems at merchants, payment companies and card issuers.

The drumbeat of news about hackers stealing millions of dollars by gaming the Swift interbank messaging system should have been a wake-up call for banking executives, but it's unclear how many of them answered it. Is it too late for them to shore up their defenses?

Consumers using mobile wallets or mobile banking apps are generally more engaged with their banks or retailers, creating a richer behavioral profile — and fraudsters are looking to exploit this by taking over these users' devices and, by extension, their bank accounts.

Given the news about the recent bank thefts carried out over the Swift messaging system, banks might be wondering if there is an alternative for cross-border payments. Flatly, there isn't.

Credit bureau TransUnion is diversifying its online security services with a strategic partnership announced this week with Dashlane, provider of a fast-growing password-management platform.

U.S. banks, already troubled to put in place the alliances necessary to operate in Asia and other parts of the world, have even more to worry about in light of investigators' allegations that North Korea played a role in the cyber attacks on Swift partner banks throughout Southeast Asia as well as the Bangladesh account at the New York Federal Reserve Bank.