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February 27, 2015

Here are the selections Tech Talk Editors George Milner and Teri Wesley have collected from this week's tech news:
  • Cyber resilience guidance
  • Bank botnet disrupted
  • A bountiful reward
  • Anti-skimming solution
  • A biometric ATM
  • An imaginative ATM client
  • Digital currency at ATMs
  • Mobile money 2.0
  • Secure way to communicate
  • Spam, Scams & Breaches
  • Updates, Patches and Alerts
  • and on the lighter side...
Cyber resilience guidance
Malware, DDoS (distributed denial-of-service) attacks, insider threats and other malfeasors targeting the financial services industry are on the rise. To ensure that financial institutions are prepared to meet these challenges, the Federal Financial Institutions Examination Council (FFIEC) has issued additional guidance to help banks beef up their cyber-resilience, reports InfosecIsland. BOL is presenting a webinar on March 30th that will provide an overview of the FFIEC's guidance. Click on the webinar ad in this issue to get all the details and register for the "Cybersecurity: Third Party Resilience - What the FFIEC Wants You to Know" program.

Bank botnet disrupted
A massive botnet capable of hijacking online banking sessions, stealing session cookies that are used to access accounts, copying sensitive files from hard drives, and providing attackers with remote access to infected computers has been disrupted. With the help of security vendors, European law enforcement agencies seized command-and-control servers running Ramnit, a malicious botnet that infected over 3.2 million computers over the course of five years. PC World has the details.

A bountiful reward for ZeuS author
In conjunction with law enforcement, banks will often offer a reward for tips leading to the arrest of a prolific bank robber. The FBI has issued a bountiful reward for the man behind the most prolific banking trojan, responsible for infecting tens of millions of computers, pilfering untold volumes of sensitive financial data, and farming out the trojan to other criminals for financial gain. Krebs on Security has the details.

Innovative anti-skimming solution
Criminals have increasingly found innovative ways to design and deploy sophisticated card reader overlays to skim data from magnetic stripe cards — to the tune of more than $2 billion in losses from ATM skimming attacks each year. ATM manufacturer Diebold has engineered an innovative solution to mitigate these attacks. Diebold's new ActivEdge technology approaches skimming from a different angle, literally, by shifting the insertion of a card's angle 90 degrees. Finextra has the details.

A biometric ATM
One of the most effective ways to mitigate card fraud is get rid of the card altogether. Digital infrastructure security company Hoyos Labs has designed a biometrics-based ATM that eliminates the use of cards or PINs and allows consumers to conduct transactions through biometric authentication, reports ATM Marketplace. The risk of data loss is minimal, the benefits for both consumers and banks are substantial, and deployment of the solution requires no hardware upgrades.

An imaginative ATM client
The global leader in consumer transaction technologies, NCR Corporation has developed a thin client ATM solution that offers significant security advantages, substantial cost benefits to the bank or deployer, and provides relief from legacy technology constraints. The Kalpana (which is Sanskrit for "imagination") platform is a ready-to-deploy solution and is EMV-compliant. ATM Marketplace has the details.

Digital currency at ATMs
Bitcoin ATMs that accept and dispense digital currency have been around for a couple of years now. What was once thought to be a passing high-tech fad, digital currency has gone mainstream as notable companies, sports organizations, charities and others have joined the Bitcoin movement and now accept the cryptocurrency. Bitcoin ATM maker Robocoin wants to make digital currency even more available with new software that enables the acceptance of digital currency at any ATM, reports TechCrunch.

Mobile money 2.0
With nearly all consumers – banked or unbanked – now owning mobile phones, the use of mobile money has grown exponentially as the quickest and easiest way to send money to family and friends and pay bills, among other uses. As the technology evolves toward mobile money 2.0, banks are in a prime position to capitalize on the mobile payments market. Finextra has more on next-generation digital payments and how banks can turn it into a more trusted, interoperable payment solution. And as mobile payments and banking evolve, the security of mobile banking apps is fundamental to success. Bank Systems & Technology has some of the hottest new mobile banking developments.

Secure way to communicate
Formed by a group of the world’s leading financial institutions, Symphony Communication Services LLC is a secure communication and workflow technology company that provides a secure directory for managing contacts across the financial services industry. Symphony provides banks with access to vetted users validated by network participants to facilitate secure communication between financial entities. A Beta release with 10,000 users is planned for April with more widespread availability by July. TechCrunch has the details.

Updates, Patches and Alerts...
Susan Orr

in a 2-hour
LIVE Webinar

Cybersecurity: Third Party Resilience - What the FFIEC Wants You to Know

March 30, 2015

Examiners are turning the focus of their IT examinations to Cybersecurity Preparedness, which extends to Outsourced Third Party Risk Management, Incident Response, Business Continuity, and Disaster Recovery. The FFIEC has released an update to the Business Continuity Planning Handbook adding Appendix J: Strengthening the Resilience of Outsourced Technology Services. Join Susan Orr as she provides an overview of Appendix J and discusses the areas of concern for your Outsourced Third Party relationships and resiliency as it relates to cybersecurity and regulatory concerns.

Can't attend?
Order the CD ROM of the program now.
On the lighter side ...
In honor of America's popular late-night comedy show's 40th anniversary, we are recapping some of Saturday Night Live's most memorable techie skits. When you need additional help from Microsoft, engaging with the Microsoft Office Assistant can sometimes be more trouble than it's worth.
In the Banker Store
CD ROM Training
Preventing Common
Employee Frauds:
Tightening Controls

CD ROM Training
Checkup for Your RDC Program
DVD Training
Avoiding Fraud Loss at the Front Line
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