Data breaches

As retailers, banks and technology companies continue to suffer data breaches, issuers and merchants need to take extra care when selecting payment vendors.

The payments messaging network Swift has told its client banks that the threat of cyberattacks "is very persistent, adaptive and sophisticated — and it is here to stay."

When BankMobile, the brainchild of Jay Sidhu and his daughter Luvleen, relaunches on a new platform in January, security — especially for the onboarding process — will be completely redesigned.

Banks tend to respond to ATM and payment breach risks after an incident. They need to get more proactive.

Financial industry groups have rolled out a plan for keeping bank customers' data safe if a mega-disaster, like a massive attack or a natural disaster, strikes.

Behavioral biometrics has already stopped several million dollars worth of online banking fraud at National Westminster Bank in London.

Any company that uses point of sale systems or technology is at risk.

The president-elect's policies on taxes, offshoring, surveillance and other issues will affect bank technology officers and their vendors in a variety of ways. The positives may slightly outweigh the negatives.

Tesco Bank has confirmed that over the weekend, some of its customers' accounts were subject to online criminal activity, in some cases resulting in money being withdrawn fraudulently.

If modified, the cybersecurity standards in New York State are a step in the right direction to protect banks and consumers.