Legal issues and news

With lots of day-to-day IT tasks and countless systems to configure, it's easy to make mistakes, says Brian Kelly, CEO of CloudBolt.

An appeals court said that Marietta, Ga.-based institution's overdraft agreements were "ambiguous" and now the case might be settled at a trial.

New unit will work with foreign governments; standards too soft on those without conventional paychecks.

Just as AI technology is being leveraged by hackers to create botnet armies, it can be utilized by organizations to better detect these very attacks, writes Imperva's Terry Ray.

With the Federal Reserve last month citing synthetic identity fraud as a growing concern for financial institutions, there's more pressure to detect fraud at the start of the relationship.

A pastor who was falsely arrested for check fraud because of errors made by Wells Fargo employees may be forced to resolve legal claims against the bank in arbitration. The case renews questions about banks' use of the process.

Any time a new market opens up, fraudsters rush in to exploit it — and this is especially true of high-risk markets like gambling.

Two Michigan credit unions were sued by an individual who claimed their websites didn't comply with the Americans with Disabilities Act.

There are several ways attackers take advantage of payment systems. Understanding that is part of the battle, according to Bill Horne of Intertrust Secure Systems.

With lawmakers unlikely to act in the near future to ease financial institutions' regulatory burden, new technologies could be the solution to credit unions’ AML woes.

Not only does it illustrate the willingness of regulators to impose massive fines for massive data breaches, it also reminds us that this situation could be just the tip of a financial iceberg, says White Hat Security's Mark Rogan.

When lawmakers return from their August recess, a host of unresolved financial policy issues — from marijuana banking to anti-money-laundering rule — will greet them.

House Financial Services Committee Chair Maxine Waters, D-Calif., and a bipartisan congressional delegation met with Swiss government officials last week to discuss Facebook’s plans to launch and operate a digital currency.

Blockchain and distributed ledger technology offer many of the basic elements that are essential components for PCI DSS compliance, writes Doug Wick, chief product officer at ALTR.

Banks are expected to appeal last week’s field of membership ruling, but credit unions must also explain why part of their new rule doesn't discriminate.

Nearly three years after NCUA passed the rule, credit unions are ready to broaden their reach, but the possibility of an appeal to the Supreme Court may put those efforts on hold.

Financial crime screening solutions that are fueled by high quality sanctions and screening data will be a crucial component to achieving success in this complex compliance environment, writes Accuity's Nirhjar Daripa.

An inspector general’s findings suggest that the Texas bank could face more consequences over how it handled fraud cases last year tied to the Direct Express program.

There is always the chance that privileged employees will either become bad actors who use their access to confidential data for their own gain, or that they will succumb to a hacking attempt and thereby open the door to an external bad actor, says Unisys' Maria Allen.