The Federal Reserve Board has once again amended Regulation Z, this time to "clarify" aspects of two prior final rules implementing the Credit Card Accountability Responsibility and Disclosure Act of 2009 (Credit CARD Act). The clarification was issued to enhance protections for consumers who use credit cards and to resolve areas of uncertainty so that card issuers "fully understand their compliance obligations." Attendees of this webinar will receive detailed information explaining all of the changes in the Final Rules.
Can't attend? Order the CD ROM of the program now.
Payment Card Industry Data Security Policy Template
On the lighter side ...
Mulling over some Father's Day gift ideas for that special man in your life? You can't go wrong with this
Bank on the hook for hack
"A bank dealing fairly with its customers...would have detected and/or stopped the fraudulent wire activity earlier," ruled the judge in a lawsuit filed against Comerica Bank by one of its commercial customers who lost $560,000 to hackers. Custom auto-parts maker Experi-Metal filed suit against Comerica after hackers breached their account in a phishing attack in 2009. Find out how the attack was orchestrated, who detected the threat, and what steps Comerica took - and failed to take - to stop the fraudulent activity at CSO.
Self serve banking
The world's largest ATM manufacturer NCR has launched two new financial kiosks designed to move even more routine financial transactions away from tellers. Featuring advanced touchscreen technology, the NCR SelfServ 4™ and the NCR SelfServ 8™ offer consumers the convenience of bypassing teller lines and quickly completing typical branch transactions, such as transferring funds, paying bills, and researching loan and credit card products. ATM Marketplace has more details. The new kiosks can improve customer service and free up your frontline staff for more one-on-one interaction assisting customers beyond routine transactions.
What checks your fingerprints, gives you a lie detector test, and then, maybe, dispenses some cash? It's the latest ATM developed by Russian-based global technology leader Speech Technology Center (STC). Russia's largest retail bank, Sberbank, will soon be testing the new cash machines in bank branches and shopping malls throughout Russia. Using voice analysis technology, the software can detect stress and nervousness in users' voices and determine if users are responding truthfully to questions they are asked before completing their transactions. The New York Times has more details on this cutting-edge technology that could prevent consumer credit fraud at ATMs.
Need a tougher act to follow
Last week we reported on the largest direct attack targeting a U.S. bank when hackers infiltrated Citigroup's online network. As cyber criminals are getting smarter and more adept at breaching corporate and financial industry networks, the banking industry needs to step up its efforts for tighter security controls, no matter what the cost or possible inconvenience to customers may be. Bank Systems & Technology has more on what the future may hold for bank security.
Virtual cyber theft
Billions of dollars are lost each year to online theft...real money plundered by real cybercriminals. It would seem that those real criminals are branching out into "virtual" currency heists. A BitCoin (peer-to-peer virtual currency network) user has reported the theft of 25,000 of his BitCoins - valued at $500,000 at BitCoin-US Dollar exchange rates. Read more about this virtual heist at PC World. Two U.S. senators are asking for stronger measures to be taken against this untraceable currency at PC World.
More proficient phishers
When you open your mailbox at the end of the day, how much more likely are you to open an envelope addressed specifically to you than one marked "occupant?" Emails addressed to undisclosed recipients are often the equivalent of mail addressed to occupant. Cyber thieves know their chances of getting a recipient to open a malicious email increase when the email is personally addressed. This is known as spear phishing. And the recent spate of attacks against major financial players, large corporations and government entities is evidence that phishers are perfecting their skills, reports CSO. Education continues to be the best defense. This U.S. News article has ten tips on safer online banking that you can share with your customers. Pass these along to your commercial accountholders as well.
Catching hackers in the act
With data breaches and hacking incidents on the rise, wouldn't it be great if your network had an alarm system of sorts that would set off warning bells when an intrusion was detected? Trend Micro announces a new line of network-analysis tools and security services designed to do just that. The security firm's real-time threat management solutions provide monitoring of network traffic for malware or signs of hacker activity and alerts the administrator to possible threats. PC World has more details.
Here's looking at you
Passwords can be easy to guess, cracked by hackers, or recorded by keyloggers. But how many thieves can pull off looking exactly like you? Biometric technology available with 3M Congent's BioTrust software for Windows replaces traditional username and password logging with facial recognition technology that logs the user into their PC after scanning their face. CSO has the details on this futuristic technology that could provide enhanced security for your consumers.
Digital signature solution
Financial institutions are reaching out to consumers in new, innovative ways to make banking easier and more convenient. We've reported recently on new video conferencing capabilities being used in bank branches and even on ATMs. Citizens Financial Group is reaching out its customer service efforts even further with a robotic arm that converts a physical signature in one location to a physical signature in a remote location. Bank Systems & Technology has more (and a video) on this emerging new technology.
CD ROM Training
Stealing From Within: Embezzlement and Data Theft
Responding to Identity Theft
CD ROM Training
"Two-Faced-Book" Facebook Policy Can Serve You Well
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