ACH Fraud

  I recently came across an interview on BankInfoSecurity entitled, “Banks Must Assume Customers Will Compromise Themselves”. In this interview, Tom Oscherwitz, chief privacy officer and vice president of government affairs for ID Analytics, discussed why online security measures are failing due to basic authentication techniques.  With the use of current social networking sites, such as Facebook, customers are often revealing all the information fraudsters need to figure out their log-in credentials. Many experts (and vendors) are recommending banks increase their security measures and implement expensive fraud detection technology solutions and measures.  Unfortunately this is merely reacting to a symptom rather than preventing the problem. Read More →