Risk

The two agencies cited geopolitical tensions in issuing the warning and best practices tips, though they stopped short of referring directly to the recent U.S. clashes with Iran.

The ransomware attack chain uses a number of methods to infect an organization's systems, which can easily bypass an entire organizational security framework in seconds, according to Exabeam's Richard Cassidy

Open banking and identity services are both still evolving to meet the needs of the new digital economy. These communities will need to connect at the hip to prevent fraud, avoid identity theft and to deter other financial crimes, like money laundering.

Data privacy regulations may be improving, and tech companies may now be forced to be more transparent about their practices, but the fact remains that vast quantities of personally identifying information are already out in the wild, says TRUSTID's Patrick Cox.

WhatsApp may be a great way to communicate with friends, but when Wall Streeters touch it, their firms get very nervous.

Financial institutions need to be aware of the platform model, strategic and reputational hazards that come with granting access to their networks.

Fraudsters can attack multiple individuals with the same scam, knowing that the details won’t be shared. Sharing the details of a scam takes that advantage away, says The ai Corporation's James Crawshaw.

Facebook, Instagram and other platforms can help credit unions differentiate themselves from big banks, but CUs that don't use these platforms strategically could be opening themselves up to risks.

Conflict continues to mount between the card brands and merchants. Merchants say they deserve more input and actual decision-making power and that payments should operate through completely open standards in which all involved parties have had a say.

Akin to the democratization of computing power through personal computers, the growing use of AI will continue to fuel new products and services in payments and have a significant impact on society. But AI will also introduce tremendous challenges due to its potential use by threat actors, says Visa's Paul Fabara.

Granting a third party access to a bank's systems in exchange for more advanced technology can help prevent fraud, but it can also attract cyberattacks.

The industry faced a host of bad press coverage over the last year or so. Analysts say it may not resonate with consumers, but it could hit home with a more important audience.

While his focus is on organic growth in Texas and California, Curt Farmer says he would consider a deal in those states if the right one comes along.

The current climate is akin to the wild west, with little protection for the consumer, and new regulations are needed if the technology is to continue to expand in a safe and sustainable way, argues Mitek's Stephen Ritter.

The first line of defense is to not pay the ransom. Then a layered approach to security and recovery plan can ward off the crooks, says Nominet's Stuart Reed.

The board- and management-level handing of CRE concentration was the chief concern of FDIC examiners, making up more than 56% of all the supervisory recommendations regulators made in the two-year period.

A new report from the National Credit Union Administration's Office of the Inspector General outlines what to expect in the year ahead following some 2019 scandals.

When launching these solutions, it’s imperative that players think carefully about application security, says FIME's Christian Damour.

Open banking transactions are not initiated by a consumer but are coming from another financial services company. This could make some fraud detection models in place today obsolete.

Many large lenders pointed regulatory restrictions on their balance sheets and reduced risk appetite to explain why they stood on the sidelines during the September spike in overnight funding rates, according to a Federal Reserve survey of senior credit officers.