Everyone loves the convenience of the ATM. However, having 24/7 access to your money may mean that scammers do, too. Recent data from the credit scoring company FICO shows there was a 70 percent increase in the number of...more
Skimming continues to be a problem for ATM machines and law enforcement continues to try to combat the problem. Skimming devices are attached to credit and debit card and ATM machines in order to intercept debit and credit...more
Earlier this summer, the Federal Financial Institutions Examination Council (FFIEC) released its highly anticipated Cybersecurity Assessment Tool (Assessment), which is designed to assist financial institutions in identifying...more
The U.S. Attorney’s Office in Newark, NJ has announced that Marius Ventila, a Romanian native, was sentenced to 10 years in prison and to pay $7.5 million in restitution for his part in a credit card skimming scam that used...more
Federal regulators have substantially elevated cybersecurity risk assessments as yet another monitoring tool. They now view risk assessments not just as relevant to mundane IT issues but as more fundamental for assessing...more
On April 3, the members of the Federal Financial Institutions Examination Council (FFIEC), including the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the National Credit Union...more
Newspapers around the world recently reported that a sophisticated and well-coordinated cyber-attack resulted in the theft of $45 million from thousands of ATMs worldwide....more