Security risk

There are several steps necessary to contain, assess and report an incident that should precede further action.

Check imaging reduces the need to handle paper, reduces clearing time and paves the way for mobile deposit and remote capture. However, this new functionality also means financial institutions take on greater risk from electronic acceptance, images in the cloud, and significantly reduced float times.

The new controls include transaction-screening parameters users may adjust to their own risk and compliance policies.

As security threats increase, companies are placing more emphasis on safety and less on speed for new initiatives.

Adoption is increasing, but most consumers would stop using the technology if they suffered a security incident

The traditonal method of scoring merchants based on risk may not work when the attack uses low risk merchants to hide illegal transactions.