Part II- Data Security: Not a place to cut corners, even in tough economic times.

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A new article released by BAI Banking Strategies is an appropriate follow-up with more detail and insight of the original blog.

The Top Ten Fraud Threats in Payments Exposed, Author Shirley Inscoe

Tough economic times and turmoil in the banking industry are forcing all of us to work harder and smarter than ever – which includes our efforts to fight fraud. In the face of these unprecedented challenges, fraud attempts on banks are accelerating rapidly and the types of fraud are becoming more diverse and sophisticated. Consider that fraud crossing multiple channels now accounts for 35% of all deposit account fraud at the largest U.S. banks, according to the most recent Deposit Account Fraud Survey of the American Banker’s Association (ABA).

Written by Robin Ferrari on 17th March 2009 at 10:50 am

File under Financial Institutions, Regulations, Hot Industry Topics, Security, Technology

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