Data security

The next generation of wireless communication will lead to more devices being connected to the internet, creating additional vulnerabilities for credit unions to guard against.

Though synthetic identity fraud is down across the industry, there's been an uptick in such attacks targeting credit unions.

Companies should push advanced ID, but passwords and their fallout will be here for a while, says Sift's Kevin Lee.

Retailers are decelerating data security spending, even as attacks become more sophisticated and merchants emphasize the types of multi-channel shopping that draws attackers.

Mastercard has developed a service called Threat Scan to help card issuers get ahead of fraudsters by running scans on their card authorization systems based on the latest evolving global card scams.

More states are adopting mobile driver’s licenses, sparking hope of creating a shareable consumer-driven digital ID to power e-commerce and data sharing among banks, fintechs and merchants.

With financial institutions relying more and more on cloud computing services, Washington is increasingly focused on the concentration of industry data in the big three technology giants.

Fincen and others say third parties are proving to be treasure chests for crooks who create synthetic identities, but aggregators argue they help detect risk banks can’t see.

Visa is leaning more heavily on its Issuers’ Clearinghouse Service to help banks combat the rise of synthetic fraud, which it attributes in part to a security measure adopted by the Social Security Administration years ago.

Congress should consider acting quickly or companies could treat the Golden State's new data privacy restrictions as a national standard.

Microsoft Corp., Mastercard Inc. and the Hewlett Foundation are funding a new organization that is planning to help dissidents and other vulnerable groups across the world defend against hackers.

Members of the House Financial Services Committee cited leveraged lending, cybersecurity and the switch to a new interest rate benchmark among potential systemic risks that keep them up at night.

Credit union priorities could take a back seat as Congress scrambles to pass a spending package to avoid a government shutdown. Here's a look at some of the proposals that could move forward.

Kenneth Blanco expressed concern in a speech about cyber criminals using "synthetic identities" to commit fraud with data stolen from fintech platforms.

Rep. Patrick McHenry, the top Republican on the House Financial Services Committee, proposed having the central bank update Congress on measures to strengthen its own cybersecurity as well as that of institutions under its watch.

The bank has developed APIs to feed customer data directly to seven fintechs and data aggregators, including MX and Finicity.

Congress should consider acting quickly or companies could treat the Golden State's new data privacy restrictions as a national standard.

The race against high-tech fraudsters has always motivated the Payment Card Industry Security Standards Council, but for too long the council's process for establishing new standards wasn't looking ahead to the next threat.

Democratic lawmakers and consumer advocates say the remedies offered to consumers by firms like Capital One and Equifax are too difficult to access and not particularly helpful.

Staying on top of new threat sources isn’t easy, but things will keep getting worse if we can’t openly discuss the matter, says Monica Eaton-Cardone, COO of Chargebacks911 and CIO of its parent company Global Risk Technologies.