Remove Cyber Security Remove Fraud Remove Online Remove Risk Management
article thumbnail

Proposed new cyber security regulations will be a huge undertaking for financial institutions

Celent Banking

New York State Department of Financial Services (NYDSF) is one step closer to releasing cyber security regulations aided by the largest security hacking breach in history, against JP Morgan Chase. Mandated training of security will be required. The attack began in 2007 and crossed 17 different countries.

article thumbnail

4 considerations for banking leaders concerned about cyber security

NCR

Last month was National Cybersecurity Awareness Month, an initiative to provide consumers with the information they need to stay safe online, so in the wake of this, it is a good time for banks to consider whether all possible steps are being taken to protect their customers in our digitally connected world. Evaluation of Risk.

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

Fraud and data breaches have always had a close, if destructive, relationship. 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 70
article thumbnail

Internet Pin Debit: How It Can Protect Your Borrowers

SWBC's LenderHub

The more convenient modern e-commerce becomes, the more susceptible businesses, financial institutions, and consumers are to fraud. As a lender, you are tasked with meeting your borrowers’ needs for convenient online payment processing technology, while still ensuring the platform is secure.

article thumbnail

FICO Named Category Leader for Cyber Risk Quantification

FICO

For the second year running, FICO has been named as category leader in the recently published Chartis ‘Cyber Risk Quantification Solutions 2020: Market Update and Vendor Landscape’ report. As the report shows, the market for Cyber Risk Quantification Solutions (CRQ) continues to show rapid growth.

article thumbnail

Frictionless Payments Take Center Stage at Money 20/20

Gonzobanker

While consumers and payment providers may hope for frictionless payments, the execution path will require new capabilities and deployments in fraud mitigation, cyber security, open APIs, and enhanced interoperability. My colleague Ryan Rackley summed it up perfectly when he referred to social media as the “new tattoo.”.

article thumbnail

Are you onboard with AI?

NCR

Royal Bank of Scotland will start using it for online communication from December 2016. ” Fighting fraud with machine learning. Machine learning has many potential applications in the financial services industry – in areas such as risk management, evaluating creditworthiness and product targeting, for example.