This week I read a worried headline claiming that, in a recent consumer data breach, the hackers had managed to access consumers’ telephone numbers. This was treated as an important and troubling revelation....more
On August 11, 2021, the Federal Financial Institutions Examination Council (FFIEC) issued new guidance, titled “Authentication and Access to Financial Institution Services and Systems” (“Guidance”), which provides examples of...more
Key Takeaways: ..According to FINRA, the number of reported instances involving broker-dealer fraudulent account takeovers (ATO) and related theft is on the rise. ..As set forth in recently released FINRA Regulatory...more
Many cities in the United States utilize a self-pay portal for residents to pay bills online, known as Click2Gov. Click2Gov was compromised in 2017 and 2018, when hackers were able to access over 300,000 payment cards and...more
We all remember Kronos—the malicious malware that was sold by Russian underground forums in 2014 for $7,000. If you bought it, you were promised updates and development of new modules. ...more
President Trump recently signed into law the Economic Growth, Regulatory Relief and Consumer Protection Act, which is already making waves in the financial sector for its repeal of certain Dodd-Frank provisions that were...more
The Federal Deposit Insurance Corporation (“FDIC”) has been publishing FDIC Consumer News quarterly since 1993 to help people protect their money and avoid financial fraud and theft. In its Winter 2016 issue, the FDIC has...more
Trademark Office rules generally prohibit the broadening of goods and services identified in existing trademark registrations. But on September 1, the USPTO announced a new pilot program that will create a limited exception...more
On-line or electronic banking (“e-banking”) offers many well-known advantages to financial institutions engaged in banking and to their business customers. A significant risk of on-line bank accounts for both financial...more