Data and information management

A legal battle is being waged between a U.S. bank and its insurer over the insurer’s refusal to pay out on a cyber policy, in the wake of hacks on the bank which led to a loss of over $2.4 million. The case flags the problems of insurance in the fast-moving world of digital security.

Nick Shevelyov, former chief security officer, will now serve as its chief information officer. Robin Staples, former head of IT digital, will serve as the new chief technology officer.

Wire and other payments fraud affected a record number of businesses last year, and the FBI is warning in particular about real estate scams.

Mobile e-commerce is growing fast, and online retail fraud levels are keeping pace with this expanded sales volume.

A group of rival trade associations have put aside their differences and come together to emphasize to Congress the need for increased standards for retailers.

The Trump administration is making more than 80 recommendations to encourage financial innovation within a regulated space, including endorsing the creation of a federal fintech charter.

The credit union service organization focuses on predictive modeling, business intelligence and technology services.

In a post-Equifax world, independent sales organizations, acquirers and payment processors are under much more scrutiny over merchant account applications and underwriting.

Banks should continually try out new technologies, even after failed experiments.

Merchants looking at third-party fraud services should also for detailed information regarding their modus operandi and results, including the steps they take to protect clients' data, according to Bernardo Lustosa, co-founder and COO of ClearSale.

A community bank in Virginia thought the $2.4 million hackers stole from its customers would be fully covered by its insurance policy, but its carrier begged to differ. Their highly technical legal fight is a cautionary tale for all bankers who assume they are sufficiently covered.

Small banks are being warned to slow down mobile tool development and check vendor arrangements, as researchers repeatedly find vulnerabilities that can be exploited by cybercriminals.

The ongoing threat of data breaches serves as a reminder that every business is subject to PCI DSS compliance, no matter their size. Any company that handles cardholder data in any way must adhere to PCI DSS standards, which can be time-consuming and expensive, writes Matt VanderZwaag, director of product development at US Signal.

Forget the stereotype that a cybercriminal has to be tech-savvy to get the job done. Their true gift is in social engineering.

Credit unions called on Congress to urge the Federal Communications Commission to rethink how it implents legislation aimed at combatting "robocallers."

The bank sees its global reach as an advantage in supporting evolving business customer needs.

The hack's core trick highlights an area of cybersecurity which is often neglected: hardware connected to computer networks which laymen wouldn’t normally consider a computer.

Banks should continually try out new technologies, even after failed experiments.

Rather than ban screen scraping, financial institutions should improve secure account connectivity so that consumers can share data with the apps they want to use.

Multifactor authentication is table stakes in today's breach-heavy environment. Falling short of that standard creates a dangerously high threat, according to David Vergara, head of security product marketing for OneSpan.