Bank Websites Face 'Mobilegeddon' as Google Tweaks Formula

Many banks may need to overhaul their websites after Google made a significant change to its search algorithm last week that is influencing the way companies' pages show up in search results on mobile devices.

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The tech giant is favoring individual web pages it deems "mobile-friendly" — an algorithm revamp some experts and media outlets are calling "Mobilegeddon" because some brands are at risk of falling into the search results abyss.

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8 Security Practices to Use in Your Employee Training and Awareness Program

This might be hard to believe, but it is true: 59 percent of data breaches are happening not because of some smart hacker who wants to do harm to your company but because of your own employees.

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The suggestions included in this post are applicable regardless of whether your employees are using smartphones or computers, or if they’re using their own devices or company-provisioned equipment.

Some of the recommendations include:

1) Authentication
2) Network Connection
3) Access to the Device
4) Physical Security

... and 4 more.

Read all of the employee training and awareness program recommendations on the Tripwire State of Security blog.

Should ATM Operating Systems Float to the Cloud?

Many aspects of modern banking are undergoing a technological revolution, but in the ATM segment, a debate is raging over whether new is actually better.

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The controversy centers around whether it's time to move ATM operating systems to the cloud, and like the rest of the $335 billion enterprise software market, competition between cloud and on-premises software providers that make the country's 425,000 ATMs work is heating up.

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Now that search engine giant Google has received Federal Deposit Insurance Company (FDIC) backing for its mobile payments app Google Wallet, according to a Yahoo Finance report, cash stashed with the Google platform – which allows users to pay for in-store or online retail purchases or transfer funds via an Android phone – will be insured up to $250,000.

Image source: Google Images

Should Google go bust, consumers' funds are protected, as if held by a banking institution.

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Data Breaches Affect One in Four Americans

Data breaches are changing consumers’ online and offline shopping habits, according to a March American Institute of CPAs (AICPA) phone survey conducted by Harris Poll with more than 1,000 adult U.S. households

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One in four Americans suffered through an information security breach in the past year, double the number of reported victims revealed by a similar survey (11%) conducted over a year ago.

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Waratek Wins RSA Innovation Sandbox

Saying it was an inventive solution to a "massive problem," judges at the RSA Conference's Innovation Sandbox, today, awarded the title of Most Innovative Company to Waratek, creator of a runtime application self-protection solution for Java.

Image source: Waratek

In addition to Waratek, the finalists included BugCrowd, Cybereason, Fortscale, NexDefense, SecurityDo, SentinelOne, TrustInSoft, Vectra, and Ticto, which was named runner-up. The judges have never named a runner-up in the Sandbox's 10-year history, but apparently the fight between Waratek and Ticto was so close, that the judges deemed it necessary.

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Call Center Threats Grow

With recent headlines focusing on the threats malware poses to financial institution security, less attention has been placed on the information vulnerabilities that exist through call center communication – something experts said mobile technology could help keep at bay.

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Call center fraud perpetrated through social engineering has recently taken place in banking call centers, and in these endeavors, fraudsters used stolen credit card information to activate Apple Pay accounts on new smartphones to buy expensive goods.

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Signal above the noise: Compelling RSA 2015 sessions

Starting today, thousands of cybersecurity professionals will flood San Francisco's Moscone Center for the RSA Conference, one of the industry's largest and most authoritative events.

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Over the next five days, attendees will see presentations that provide a snapshot of the nation's cybersecurity Id: A conference weighted toward government and corporate security, any given year's topics provide a summary of collective fears, fantasies, sales trends, pain points, and heaps of obsessive research.

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Key Steps to Take to Ensure Security of Remote Deposits

Rapid innovation in mobile and remote deposit technologies means members today have more choices when it comes to how, when and where they interact with their credit union or other financial service providers.

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While the dramatically more efficient remote deposit technology offers credit union members greater convenience and flexibility, it also magnifies potential risks. The potential for human error and fraud — such as a check being altered or deposited multiple times on different dates or at different credit union locations — are real and persistent challenges.

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Mobile App Payments Raise Security Concerns

When Facebook revealed the availability of payments via its Messenger app, consumers and financial institutions raised new mobile payment system security concerns regarding data breaches and fraudulent transactions.

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Facebook made the announcement that end-users could soon use its Messenger app to send money on March 17, 2015.

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Misconceptions About the Cloud & What It Can Do For You

Cloud technology has received a significant amount of attention over the past year. Many financial institutions have had doubts about the cloud due to many infamous hackings.

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However, when considering cloud technology as it relates to credit unions, many executives have ignored the opportunity for enhanced member services due to several misconceptions.

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Cyber Fraud is on the Rise

Recently, Cyber Security has became a major concern for credit unions in North and South Dakota.

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Leaders from over 20 Credit Unions met in Bismarck to discuss issues facing smaller financial institutions throughout the Dakotas. One of the biggest topics was cyber fraud.

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Six Months Before EMV Deadline, Where Do CUs Stand?

With just six months to go before the EMV liability shift deadline, just how ready are credit unions? The answer depends on how members want to pay.

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Most CUs' credit card portfolios are well prepared for the October shift, after which the liability for card-present fraud falls to whichever party is the least-EMV compliant in a fraudulent transaction, say industry insiders and analysts.

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Credit card skimmer technology is getting harder to spot

Thieves are increasingly placing credit card “skimming’’ devices that collect personal information with every swipe at a gas pump, posing an ever-evolving threat to consumers’ bank accounts. And they’re getting better at it. The newest devices found on gas pumps in the Tampa Bay area show thieves are now more tech-savvy than ever.

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Because skimmers are such a new problem, law enforcement agencies don’t have a specific way of classifying them from other burglaries.

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Credit Union IT Leader Offers Advice on Integrating New Tech

The bleeding edge of technology can be exciting, offering new workflows and efficiencies that can be transformational. Think email in the workplace. Few people can imagine work life without it today.

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David Cooper, vice president of information systems at the Charlotte Metro Credit Union (CMCU) in Charlotte, N.C., recently spoke with the Credit Union Times about how his organization introduced electronic services, mobile banking and cloud computing to push the business forward.

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Credit Unions Concerned About Insider Threats: Survey

The majority of credit unions have serious security concerns regarding insider threats according to the results of survey conducted by Westport, Conn.-based Awareness Technologies in partnership with the CUNA Strategic Services.

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Results indicated that 83% of surveyed financial institutions admit their biggest concern is confidential information transferred to unauthorized recipients, while another 52% say they are worried about sensitive data being transferred by use of removable media.

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4 things iPhone 6 does that Samsung Galaxy S6 can't

Samsung and Apple are the undisputed kings of the smartphone world, and both own right approximately 20 percent of the global market, according to recent research from IDC. However, the iPhone 6 still does many things the Galaxy S6 phones can't. This article is not intended to point out all of them.

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Instead, it's meant to spotlight the things I miss most when I leave home with the Galaxy S6 and not my iPhone 6. As is always the case with these matters, there are two tales to be told, so make sure to check out my companion story, "6 things Galaxy S6 does that iPhone 6 can't."

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Human error cited as leading contributor to breaches, study shows

Human error accounts for 52 percent of the root cause of security breaches, according to a new study from CompTIA, which surveyed individuals from hundreds of companies in the U.S.

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“What is particularly troubling is that companies generally rate human error as a lower concern among other security issues [such as malware and hacking],” Seth Robinson, senior director of technology analysis with CompTIA.

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Bridging the Endpoint Security Gap

Current PC and Server security standards are no longer adequate to stop the latest generation of attackers. Despite your investments in security you are at greater risk than ever. You've spent a great deal of money and time building a multi-layer, defense-in-depth security strategy for your organization. But, is it enough?

Image source: Matrix White Paper

IT security vendors have acknowledged their inadequacy and are now pushing analytics – after an attack has been successful, learn about it faster than you do today. According to the latest Mandiant threat report, M-Trends 2015, based on their research the time from an organization’s earliest evidence of compromise to discovery of compromise in 2014 was 205 days. Further, only 31% of victim organizations discovered the breach internally while 69% were notified of the compromise by an external entity such as law enforcement.

Global uptake of biometrics expected to rise in 2015

ABI Research forecasts $3.1 billion global revenues in 2015 for biometrics in the consumer and enterprise sectors, with much of the growth coming from smartphone solutions.

Image source: EyeVerify

Rapid advances in the biometrics field will drive further smartphone hardware upgrades. Meanwhile, pioneering algorithm design and cloud computing services are transforming user authentication.

Are you using biometrics such as EyeVerify to protect mobile operations in your Credit Union?