According to IBM's "Future of Identity Study," consumers are beginning to prioritize security over convenience, making trust a crucial competitive advantage for financial institutions.
As cybercriminal tactics evolve, banks must employ fraud detection solutions that leverage artificial intelligence to evaluate new registrations for signs of money mule activity.
Open banking promises to make financial services apps more convenient, but there's still a lot of confusion about how financial firms will protect customer data from rogue third parties.
Banks are already privy to the threat of physical breaches, but many remain unaware of the ATM network security gaps that could enable fraudsters to access their systems.
Researchers revealed how easily ATM security can be thwarted by breaking into a machine and then using malware to take down an entire network.
IBM X-Force identified a new Trojan, dubbed IcedID, that uses advanced browser manipulation tactics to target financial institutions in the U.S. and U.K.
Open banking is changing the way people manage their money, transforming the relationship between customers and financial institutions.
The cybergang operating the TrickBot banking Trojan were unusually active over the summer, launching new campaigns in Latin America and updating its code.
Effective ATM network protection requires a combination of basic and advanced approaches and a strong SIEM solution to monitor anomalous activity.
Banks and financial institutions require a dynamic strategy to identify emerging cybercrime trends and stop fraudsters in their tracks.