First Tech Federal Credit Union announced a pilot program with MasterCard that will enable First Tech employees to authenticate and verify transactions using facial recognition and fingerprint biometrics.
Headlines continue to highlight data breaches, especially those compromising payment, banking and personal data.
May 1, 2014
The silver lining to the breaches, according to the ACI report, is that although data breach-related fraud has had a negative impact on banks’ and financial institutions’ bottom lines, more than 40 percent of respondents indicated that their customers have appreciated the proactive outreach and response to market events, which helps to keep financial institutions on the right side of customer satisfaction, rebuilding brand trust.
Nearly half of financial frauds being uncovered involve criminals trying to use someone else’s stolen personal details, Experian warns. The credit checking company says that identity theft is a “significant and rising threat,” accounting for 46 percent of financial frauds detected this year – that’s almost double the rate of cases seen in 2012 (27 percent).
If you are experiencing trouble getting your bank to work for you, it turns out that was not the case with Iran, the Sudan and Mexican drug cartels, who all used some world banks to launder their money.
Terrorism is changing. The Center for Cyber & Homeland Security at George Washington University is striving to bring science to the art of security decision-making. What can their research into cyberattacks, terrorism and the evolving threat environment do to help your enterprise? Read about this, sports security, security culture and awareness and more in the July issue.