BankInfoSecurity.com Editor's Choice for Jan. 2011

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.New Authentication Guidance Soon? -- The Federal Financial Institutions Examination Council is expected to issue new security guidance that revisits online banking and strong authentication. At least that's the word from industry experts who have been involved in recent meetings with the FFIEC.

Top 9 Security Threats of 2011 -- Industry experts pinpoint nine areas banking institutions should keep their eyes on this year, and mobile, social networks and malware are among the top three.

Internal Fraud Losses Higher Than Reported -- Internal fraud is one of the financial-services industry's most threatening types of fraud. In fact, industry experts rank it as one of the top 9 security threats banks and credit unions will face in 2011. A new report from Aite Group supports that ranking, finding that internal fraud at most banks and credit unions is underreported, if detected at all.

Fraud, EMV and the U.S. -- EMV is more secure than the mag-stripe, but the technology has been met with resistance in the U.S. But as fraud levels near the tipping point, the U.S. will have to make a decision about whether to go EMV or pursue a different direction.

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