Posted on 13th Jul 2011 by Jack Jania
UNFCU and Gemalto celebrate the first year since the launch of United Nations Federal Credit Union’s (UNFCU) globally compliant chip and PIN credit cards with newly released results of the financial cooperative’s effectiveness study.
Posted on 12th Jul 2011 by Gemalto
Last week I blogged about how the new Federal Financial Institutions Examination Council (FFIEC) guidelines were highly welcome and outlined what issues they would help address. Today I am continuing with the series on these guidelines by outlining what else they could (and perhaps should) have included.
Posted on 8th Jul 2011 by Gemalto
A fortnight ago, I speculated on the next set of Federal Financial Institutions Examination Council (FFIEC) guidelines, and what they might mean for security and authentication in the online banking industry. Last week, these guidelines were finally unveiled.
Posted on 7th Jul 2011 by John Ahlberg
The Americas are no different from other parts of the world – online banking is becoming second nature. The latest instalment of our world tour of ebanking security features cases from across North & South America including Mexico and the USA.
Posted on 6th Jul 2011 by Gemalto
In two consecutive weeks we saw headlines made by customer versus bank lawsuits relating to cybercrime. One judge ruled that questions and answers were good enough to protect the customer. Then, a separate judge rules that the bank should have detected a mere 100 wire transfers from an account after IDs, passwords, and its OTP token password were compromised. Who was right?
Posted on 6th Jul 2011 by Gemalto
Several weeks of harsh headlines explaining the tough battle of customers versus bank lawsuits and cybercrime.
In early June, a court in Maine ruled in favor of Ocean Bank in an ACH fraud lawsuit, stating that, “having verified IDs, passwords and requested challenge response questions, it acted in good faith by processing the ACH payments and Patco (the customer) was to blame for letting its details become compromised.” Recently, however, it appears that the opposite has occurred, when a ruling from a Texan judge favored the business which had been the victim of fraud.
Posted on 15th Jun 2011 by Gemalto
This week’s data breach at Citibank, which appears to have compromised the personal details of up to 200,000 consumers, was followed on Monday by a reported hack at the International Monetary Fund (IMF). Serious incidents at two of the world’s most high-profile financial institutions within a matter of days of one another has once again highlighted the need for new legislation to govern online financial services
Posted on 10th Jun 2011 by Michael Magrath
It is critical that consumers are certain that the site they visit is the one they intended to access. A new policy signed by the Obama Administration will change the way we do business on the internet.
Posted on 27th May 2011 by Neville Pattinson
Now that Pres. Obama has signed the National Strategy for Trusted Identities in Cyberspace (NSTIC), it’s time for the government and private sector to work together to build the ecosystem. Where do we start?
Posted on 19th May 2011 by John Ahlberg
Online trust is now a national priority in the United States, and banks’ face-to-face connection with clients positions banks as an identity broker, but only if they get identity authentication right.