Data security

Digital fraud protection provider Kount has launched a security layer designed to prevent account takeover.

The Comptroller's Office has provided banks with guidance on how to structure relationships with data aggregators. Now the bureau needs to focus on the bank-consumer connection.

Financial institutions need to alert customers about emails or websites that pretend to offer important COVID-19 information but instead could end up stealing their account numbers or logins.

The challenge has been aligning the data-sharing ecosystem in a way that simplifies access and enhances consumer control while ensuring a high level of security, says Finicity's Steve Smith.

In spite of MGM’s quickly notifying hotel guests impacted by the breach in accordance with applicable state laws, it’s a clear concern that many of the contact details were still valid, particularly the phone numbers, says Shared Assessments' Tom Garrabba.

The global efforts to contain the coronavirus outbreak are leading to drastic actions that test the limits of what consumers will accept when governments and other entities use their payment data.

National Credit Union Administration board member Todd Harper also emphasized the risks of poor succession planning during remarks on Wednesday.

The Payment Card Industry data security standard applies to organizations of all sizes, but has often been seen as an intro to data security for small-business owners who know more about cooking burgers than securing data.

Recent proposals considered or passed by legislatures around the country grant banks certain exemptions, but they differ from state to state and may pose new compliance headaches.

The startup’s tools help banks and consumers deter account takeover in the aftermath of a data breach.

New regulations and fraud threats are accumulating, and payment firms need to keep up, says Semafone's Gary E. Barnett.

Federal Reserve Chairman Jerome Powell told senators that the central bank is willing to explore a credit-sensitive interest benchmark in addition to the secured overnight financing rate, which some banks say could cause problems during economic stress.

Four Chinese military members charged with stealing data of 150 million Americans; fintech can use deposit insurance, a step toward a full bank charter.

Cybersecurity experts said the trade group's description of the event bears the hallmarks of a ransomware attack, which CUNA subsequently confirmed.

New technologies are making fraud detection even more of a challenge for financial institutions, but there are steps credit unions can take to protect themselves and their members.

Outages or disruptions of GPS signals — sometimes malicious, sometimes not — could quickly knock out computers, ATMs and card networks.

In a move to increase the security of card transactions, the Reserve Bank of India (RBI) is requiring all advanced features such as contactless to be turned off for new and re-issued cards until the user opts-in.

Bank for International Settlements report says central banks don't have tools to handle climate change; banks could face different CRA rules.

Liability for missteps by vendors, jurisdictional headaches tied to locations of servers and legacy technology are other potential impediments.

The two agencies cited geopolitical tensions in issuing the warning and best practices tips, though they stopped short of referring directly to the recent U.S. clashes with Iran.