Fraud detection

Some days the ride-sharing app receives more than a million phishing emails — a stat to which large banks can relate. But after deploying common protocols and open-source software, Uber now rejects most bad emails.

The drumbeat of news about hackers stealing millions of dollars by gaming the Swift interbank messaging system should have been a wake-up call for banking executives, but it's unclear how many of them answered it. Is it too late for them to shore up their defenses?

Rep. Maxine Waters, the top Democrat on the House Financial Services Committee, introduced legislation Thursday to reform consumer credit reporting.

Huntington Bancshares is the latest institution to add a cybersecurity expert to its board, highlighting the growing importance of guarding against hackers and other online dangers.

The rub is that the global messaging system's security is only as strong as the weakest link.

While bitcoin is viewed as "secret currency," the technology behind the cryptocurrency is immensely useful to financial services companies in preventing hacking.

Cyberthieves using malicious software discovered by IBM Security have stolen $4 million from business customers of two dozen financial services providers this month, IBM said.

Technology at many banks has been assembled haphazardly over years. That makes for complex systems with lots of connections. Those points are prime targets for cybercriminals to find a way in.

As one of the most antagonistic lobbying battles in Washington escalates -- where financial institutions like JPMorgan Chase and Visa are sparring with companies such as Walmart over credit card swipe fees -- a powerful ally is again sticking up for the retailers.

Cybercriminals and hackers are increasingly targeting people, and not just technology, in an attempt to breach financial institutions.