Cybersecurity risks remain the same for all financial institutions, regardless of size or resources. The FFIEC recently announced that examiners will be conducting "state of cybersecurity assessments" this summer, specifically targeting community banks. Examiners want to ensure that cybersecurity is engrained into the culture of all financial institutions, and that management is well aware of …
At Easy Solutions, we spend a lot of time anticipating fraud trends so that we can develop solutions quickly and ensure that our customers are always ahead of the game when it comes to fraud protection. This week, we added and enhanced several features to our anomaly detection solution, DetectTA, which now has the ability …
I write this post with mixed feelings about the adoption and use of crypto and digital currencies. For those who might not know, cryptocurrencies like Bitcoin, Dogecoin and others offer digital online wallets of virtual money. Initially envisioned as irreversible ‘peer-to-peer’ trustless exchanges, these currencies claim to offer the possibility of anonymous transactions between strangers, …
One of the things that we do at Easy Solutions, to help protect banks from fraud, is perform passive monitoring on paste sites, social media sites, and the black market. We see all kinds of crazy things and we wanted to share this example. In the case below, we found what appeared to be source …
InfoRiskToday (http://www.inforisktoday.co.uk/) has a great article out today, that highlights some of the key developments in the P.F. Chang's breach. While there are no indicators of card fraud yet, we'll be monitoring closely for any activity. Easy Solutions' Bryan Jardine also shares his insights within the piece, noting that "Often the valuation of a card decreases …
I read with interest the news that two 9th graders (14-year olds) in Canada found an online manual for a Bank of Montreal (BMO) ATM machine, and hacked in to Operator mode. The “damage” these two inflicted was to change the ATM surcharge (the amount the ATM owner charges the consumer during the transaction) to …
Over the last decade, I have spent the majority of my time focused on strategic planning for fraud prevention and fraud program enhancements. During this time, I have met and spoken with countless financial and law enforcement professionals who are facing the challenges of ever-changing fraud environments. Due to the nature of fraud, my programs …
This week we were greeted with news of a new banking trojan malware variant named Zberb. This trojan was described breathlessly by the security community as an “evil monster” and a “hybrid beast” in one hyperbole-laced article. Why is Zberb so terrifying and why should we take all of our money out of the bank, …
Mobile Banking offers considerable promise for true interaction with customers as well as key differentiators to attract gen Y consumers. Simple and stronger authentication is key to manage risk and to ensure continued success in the mobile market. The first generation of strong authentication for mobile typically utilized the same authentication factors as the online …
If the high-profile breaches at Target, Nieman Marcus, and legions of other retailers have taught us anything, it’s that we haven’t seen the last of them. Regardless of what security tools and protocols are put in place by retailers -- or really any institution that houses sensitive consumer information – there inevitably will always be …
