Remove Cards Remove Cyber Security Remove Operations Remove Risk Management
article thumbnail

Modern Bank Robbery: Addressing Cyber Fraud in Retail Financial Services

Cisco

After decades of battling credit card fraud, retail banks face a new challenge: fraudulent account takeover. The Javelin 2019 Identity Fraud Report notes that, “While existing card fraud losses dropped from $8.1 How can banks effectively combat account takeover, new account fraud, and other modern cyber security threats?

Fraud 63
article thumbnail

Modern Bank Robbery: Addressing Cyber Fraud in Retail Financial Services

Cisco

After decades of battling credit card fraud, retail banks face a new challenge: fraudulent account takeover. The Javelin 2019 Identity Fraud Report notes that, “While existing card fraud losses dropped from $8.1 How can banks effectively combat account takeover, new account fraud, and other modern cyber security threats?

Fraud 48
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Synthetic Identities: From Data Breaches to Auto Loan Fraud

FICO

As the US transitioned to hard-to-counterfeit EMV payment card technology several years ago, criminals flocked to card not present (CNP) fraud , often combining identity fragments and card numbers stolen in breaches to make illicit purchases online. Fraud and data breaches have always had a close, if destructive, relationship.

Fraud 70
article thumbnail

Four 2023 U.S. Policy Predictions for Financial Services Companies

FICO

With a weakening economy, BNPL firms have seen a rise in bad debts, growing losses, increased costs of operations and tumbling share prices. The proposed rules appreciably increase corporate accountability on cyber risk, starting from the boardroom and cascading down throughout the organization.

article thumbnail

April 2014: A Busy Month for Fraud Alerts!

Jack Henry

Cyber-Attacks on Financial Institutions ATM and Card Authorization Systems. In light of the ATM cash-out schemes that had taken place recently, an alert was issued to provide details on how this type of fraud had occurred, the risks presented to financial institutions (FIs), and what FIs could do to mitigate these risks.

Fraud 88
article thumbnail

3 Ways to Make the FFIEC CAT Work for You

Gonzobanker

Poor planning or missteps here will cost more later on, not only in terms of time and money but also in the bank’s ability to effectively address today’s growing information and cyber security threats. Gaps or inconsistencies in your overall risk models if you just add this layer on top of other existing risk management efforts.

article thumbnail

Are you onboard with AI?

NCR

These innovations are already changing how the industry operates and how businesses engage with their customers, and are only set to become more important in the years to come. Luvo will answer simple questions – such as ‘How do I authorize my card to be used overseas?’