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Cybersecurity Plans and Policies

By Chris Tuckness

Last year, it was reported that Russian hackers had stolen more than 1.5 billion username and password combinations. You might think your company is safe, but are you sure about that?

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Solving the Security Concerns over Mobile Wallets

June 27 – Mobile wallet adoption is projected to climb to 90 million users by 2019. While mobile wallets are already affording consumers new, convenient ways to pay, they are also providing new opportunities to fraudsters. Last year, 112,000 consumers became victims of mobile-wallet related account takeover; as more banks prepare to launch mobile wallets, security is the leading consideration for consumers. (more…)

Growing Number of Online Transactions Coupled with Increasing Security Threats to Propel the Global Two-Factor Biometrics Market Through 2020

June 16 – Technavio analysts forecast the global two-factor biometrics market is expected to grow at a CAGR of almost 23 percent during the forecast period, according to their latest report.

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Biometric Authentication Key to Increased Payment Security

June 13 – A new study from Juniper Research has found that eCommerce merchants and financial institutions will be investing heavily in online fraud detection solutions over the next five years, with annual spending reaching $9.2 billion by 2020, up by 30% on current levels.

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2016 Survey: 90 Percent of IT Professionals Say They Must Detect Cybersecurity Incidents That May Lead To Breach Within One Day

June 1 – Lumeta Corporation, a leader in network situational awareness, has released the findings of a survey that targeted 5,000 U.S. IT executives responsible for network security and network management of large enterprise networks. The research revealed that, in terms of cybersecurity breach detection, there is a large disconnect between IT professionals’ needs and today’s realities. The overwhelming majority (90%) of IT professionals indicated they want to detect cybersecurity incidents that lead to breaches of their network within a day, 7% said less than one week would be an acceptable timeframe, 3% said less than one month. However, industry data shows the average duration of a breach is more than six (6) months.

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Increased Number of Advanced and Sophisticated Threats and Cyber-Attacks Will Augment the Global IT Security Market Through 2020

May 31 – Technavio research analysts are forecasting positive growth for many segments of the global IT security market over the next four years as several markets, including BYOD security, mobile payment security software and contactless smart card market in banking sector, will witness an increase in revenues.

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Nationwide Wins Retail Banking Security Innovation of the Year

May 27 – Nationwide Building Society has been awarded the Retail Banking Security Innovation of the Year award for a behavioral biometrics prototype it developed with Unisys and BehavioSec to improve security and user experience for mobile banking customers.

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FDIC Officer Testifies About Information Security Breach Before House Subcommittee

May 12 – In testimony following news that FDIC information had been repeatedly breached when outgoing employees downloaded information to their mobile devices, FDIC Chief Information Officer Lawrence Gross laid out steps that the agency is taking to lower the risk of sensitive information being exposed through the mobile channel. (more…)

Greater ‘Card Present’ Security Sees Fraud Activity Switch to eRetail

May 3 – A new study from Juniper Research has found that the value of online fraudulent transactions is expected to reach $25.6 billion by 2020, up from $10.7 billion last year. This means that by the end of the decade, $4 in every $1,000 of online payments will be fraudulent.

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Creating an Effective Cybersecurity Preparedness Plan

By Mark Scholl

It’s no secret that cyber threats continue to increase. The bad guys will go where the money is. But you can’t develop a cybersecurity strategy if you don’t know what you are up against. So where do you go for help to understand the evolving threats and how to mitigate them based on your risk profile?

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