Immediately stop what you’re doing and start panicking!!! Statements such as these seem to be pervasive in the marketing of IT security products. And for good reason, nothing sells quite like fear. However, instilling hysteria has its drawbacks as eventually people stop listening when the doomsday scenarios outlined fail to manifest.
So what would happen if we took a practical and realistic view of cyber-security threats to online banking? Quite frankly, the available data shows us that online . . .
If every cloud has a silver lining, what good could possibly come from breaches at major retailers which exposed millions of Americans to potential card fraud? The positive implications for US financial institutions is that the breaches at Target, Neiman Marcus and Michael’s have woken up their customer base to cybersecurity threats. This awareness fosters the FFIEC-mandated educational programs by providing account holders who are now sure to be active listeners to the dangers of Corporate Account Takeover . . .