Security risk

Web attacks spike around the holidays, creating a higher risk for malware, phishing and other crime, according to Ryan Wilk, vice president of customer success for NuData Security, a Mastercard company.

Fixes and resolutions can take days or even weeks, enhancing vulnerability, according to David Williamson, CEO of EfficientIP.

It can be difficult for security analysts to pinpoint the abnormal behavior while sorting through huge amounts of data, according to Steve Moore, chief security strategist at Exabeam.

ACI Worldwide is the latest to adopt technology from Israel-based BioCatch that monitors shoppers’ behavior to spot irregularities signaling potential fraud.

Credit card fraud is on the rise in the U.K. with more than $2 billion being stolen from credit and debit cards over the past twelve months, an increase of 38% on the previous year. But while large scale data breaches have been heavily blamed for this surge in crime, ex-fraudster Tony Sales says one of the most pertinent reasons is a persistent lack of understanding within the financial industry of how criminals operate.

Businesses need to prove that they have taken all possible actions to inform and mitigate the damage during an event, writes Ryan Wilk, vice president of customer success for NuData Security, a Mastercard company.

As payment stakeholders show an interest in using fingerprint technology to improve identity protection, NEXT Biometrics and MK Group plan to collaborate on biometric smart cards for banking and other applications.

Moelis submits a revised Fannie/Freddie blueprint; FASB considering a plan to have banks break out charge-offs and recoveries on year-by-year basis; Wells Fargo layoffs begin with 1,000 jobs in mortgage and tech; and more from this week's most-read stories.

Antivirus solutions, firewalls, secure web gateways and URL filtering cannot reliably detect cryptominer code and have proved ineffective at preventing it from auto-executing within endpoint browsers, writes Carolyn Crandall, chief deception officer at Attivo Networks.

Getting companies to share fraud fighting intel is a tough game, but Forter has played it well enough to draw a fresh round of funding to boost the Israeli fintech's profile in the U.S.