How to stay ahead of the rise of synthetic fraud
While banks have been successful in reducing card fraud in recent years, a new and rising threat has emerged: synthetic identity fraud. By combining real and falsified …
Compliance department spending plateaued in 2020
A study of 117 organizations in the second half of 2020 showed that compliance department spending was projected to plateau in 2020 after several years of rapid growth, …
The financial impact of cybersecurity vulnerabilities on credit unions
Cybersecurity vulnerabilities among credit unions and their vendors create the potential for large financial impacts to the credit union industry, according to a Black Kite …
A strategic approach to identity verification helps combat financial crime
70% of financial services organizations are taking a strategic approach to identity verification to combat financial crime and stay one step ahead of fraudsters according to …
Businesses trust their remote employees are sufficiently skilled to mitigate cybersecurity risks
80% of businesses worldwide are confident their remote employees, specifically those working with finance software or participating in official company transactions, have the …
Customers willing to share personal data in exchange for personalized services
There is ample opportunity for financial institutions to harness the power of AI to build more meaningful connections and experiences with customers — vastly improving both …
What behavioral experts can teach us about improving security
The “castle and moat” approach to protecting one’s domain was effective for centuries. At the start of the internet age, when a company’s greatest assets were physically …
CFOs are becoming catalysts of digital strategy
As the pandemic continues to challenge organizations worldwide, the role of chief financial officers (CFOs) has moved further beyond “economic guardians” of the enterprise to …
Successful BEC attacks become 56% more costly
The number of phishing attacks grew through 2020, fully doubling over the course of the year. Attacks peaked in October 2020, with a high of 225,304 new phishing sites …
5G networks to incite job growth and boost GDP
5G networks could create about 4.5 million jobs in the US and add roughly $1.5 trillion to the country’s GDP, according to BCG. The analysis shows that 5G will …
How consumers protect sensitive information when using FinTech apps
42% of global consumers use a free FinTech app or platform. Of those, 50% do not know if the app they use sells their data. ESET has explored the topic of data security in the …
Financial institutions must prepare for increased risk of financial crime
LexisNexis Risk Solutions published survey results of U.S. and Canadian compliance professionals on the range of challenges that financial institutions have experienced during …
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