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Financial Services Industry › Financial Institutions › Business E-Mail Compromise (BEC)

Troutman Pepper

Tackling Credit Push Fraud: Understanding Nacha's Risk Management Package (Part One) — Payments Pros: The Payments Law Podcast

Troutman Pepper on

In this episode of Payments Pros, Carlin and Keith welcome back Jordan Bennett, Nacha's senior director of network risk management, for a two-part series on the newly approved rules designed to combat credit push fraud....more

Troutman Pepper

Nacha Approves New Rules to Combat Credit-Push Fraud

Troutman Pepper on

On March 18, Nacha, the organization that governs the ACH network, announced that its members approved a new set of rules aimed at reducing the incidence of frauds, such as business email compromise (BEC), that exploit...more

Goodwin

NYDFS Consent Order Signals Regulator’s Growing Focus On Financial Institutions’ Incident Response And Security Practices

Goodwin on

In early March, the New York State Department of Financial Services (“NYDFS”) announced a consent order that required Maine-based mortgage servicer Residential Mortgage Services, Inc. (“Residential”) to pay a $1.5 million...more

Ballard Spahr LLP

Federal Reserve and FinCEN Raise Alarms Regarding Technology-Assisted Financial Fraud

Ballard Spahr LLP on

The Federal Reserve and the Financial Crimes Enforcement Network, or FinCEN, both recently issued reports addressing worrisome trends in technology-assisted financial fraud.  The reports to engage the financial services...more

Carlton Fields

Eleventh Circuit to Weigh in on ‘Business Email Compromise’ Coverage Under Fidelity Bond

Carlton Fields on

Banks have historically been at the forefront of technological advances in commerce. So it should be no surprise that they and other financial institutions were also among the first to suffer losses related to computer fraud...more

Robinson+Cole Data Privacy + Security Insider

Cybersecurity Threats for Treasury & Payment Management Systems Report Released

Robinson+Cole Data Privacy + Security Insider on

Pactera Technologies N.A., Inc. [www.Pactera.com] has released the report “Cybersecurity Threats for Treasury & Payment Management Systems: Six Things you Should Know to Manage Them.” It is easy to understand and pertinent,...more

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