Investment

Financial institutions are hoping to get ahead of the growing and seemingly insurmountable problem of payment card fraud not just by looking at who cyber-attackers are going after currently but who they are likely to defraud in the near future.

As the state phases in tougher requirements from its 2017 regulation, federal agencies continue to show an interest in updating their cyber policies.

The bank is working with SpringFour and Genivity, two graduates of its mentorship program, and plans more such partnerships.

After warnings of an impending major ATM cash-out had bank security teams working overtime last weekend, crooks made off with over $13 million over the weekend in a double attack on India’s venerable Cosmos bank.

Thieves stole more than $13 million from an Indian bank just days after an FBI warning; Fed’s special oversight restrictions from 2015 lifted.

Credit unions are working to turn a distributed ledger-based identity project into a platform for payments and financial services.

Cybersecurity remains a chief concern for small credit unions as a panel of experts warns small CUs may not just be a target, they could be one step in a larger attack.

IBM claims that by monitoring customer behavior first and foremost, banks can make suspicious activity reporting far more accurate.

Banks and credit unions — especially smaller ones — are being told to brace themselves for a wave of ATM raids by cybercrooks. Industry officials are uncertain what information the red alert is based on, but experts say swift, sophisticated thefts are very doable.

Security researchers are uncovering widespread vulnerabilities in several popular mobile point-of-sale systems, which have become increasingly popular in recent years among many types of merchants large and small.