December 21, 2023

IT Regulatory Compliance Security

Timely Topics:

What does the future hold in store for payment technologies?  

The advancement of technology, coupled with rising demand for speed and convenience, is defining the future of paytech with a new era of innovatioFrom “FinTech Magazine” Alec Clere (12/4/2023)

Social and synthetic media are spawning new fraud, feds warn

While social media fraud is a problem for all ages, younger people are particularly susceptible, reflecting their outsized use of these platforms, the FTC said.

Every time we turn around, it seems that fraud has a new face. Old school check fraud is still with us and causing grief, but fresh threats are emerging constantly. Recent reports from the Federal Trade Commission and U.S. intelligence agencies have highlighted two new sources of risk: social media and artificial intelligence “synthetic media” tools.

From “ABA Banking Journal” (12/1/2023)

Are CDs a Good Investment for 2024?

With only a few weeks left in 2023, many of these CDs look like good investments going into the new year. But are they? If you’re thinking about investing in one soon, let’s take a look at what we know.

From “the ascent” Steven Porrello (11/28/23)

FDIC: Authentication in Internet Banking: A Lesson in Risk Management  

The business model that banks use to offer products and services to their customers has evolved significantly. Most banks have supplemented tellers, drive-ups, and other facilities with electronic capabilities, many of which are facilitated by the Internet. This shift to Internet-based banking and e-commerce in general is accompanied by new risks as well as an increase in existing risks. Security weaknesses in Internet-based processes create opportunities for savvy hackers to compromise systems and steal data. The Internet provides an effective and anonymous medium for thieves to advertise and sell the stolen data. In response, the bank regulatory agencies and the banking industry have sought ways to mitigate these vulnerabilities.

From “FDIC” Supervisory Insight

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