NACHA's CEO says ACH-related fraud is often over-hyped, and occurs far less often than check- and payment card-related fraud. But when corporate accounts are breached, fraudulent ACH transactions lead to big financial losses.
Some physician group practices that already have an electronic health record system are playing a game of "hurry up and wait" when it comes to qualifying for HITECH Act EHR incentive payments and bringing their security plans up to date.
The Federal Financial Institutions Examination Council is expected to issue new security guidance revisiting online banking and strong authentication, and a new report from Aite finds internal fraud at most institutions is underreported.
The Federal Financial Institutions Examination Council is expected to issue new security guidance revisiting online banking and strong authentication, and a new report from Aite finds internal fraud at most institutions is underreported.
When a database breach occurs, consumer notification continues to be a public problem, and it's time for the federal government to step in, says Linda Foley, co-founder of the non-profit Identity Theft Resource Center.
"I am hoping for some turn around, but overhang in troubled real estate, unemployment and debt levels are negatives," says Christie Sciacca, former FDIC official.
This week's top news and views: Mobile and online P2P services offer banks and credit unions a competitive edge, and a new Aite report proves internal fraud is more damaging than most banks realize.
Mobile and online P2P services offer banks and credit unions a competitive edge, and a new Aite report proves internal fraud is more damaging than most banks realize.
When the HITECH Act was enacted early in 2009, much was made of its provisions calling for tougher enforcement of the HIPAA privacy and security rules. But we're still waiting for ramped-up enforcement to begin.
Here's a New Year's resolution every banker can appreciate: In 2011, the industry must embrace a stronger dedication to investments in fraud-detection and prevention.
Hospitals and physicians, effective Jan. 3, can apply for the HITECH Act electronic health record incentive payments. But will the program be a successful catalyst?
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