- News & Events
July 1, 2013
Perhaps with the cybercrime running rampant, it’s not a huge surprise that the Office of the Comptroller of the Currency’s third semiannual risk perspective report names cybercriminals as the fastest growing risk to banks.
The OCC, if you’re not familiar with it, is an independent bureau of the United States Department of the Treasury. It’s headed by the Comptroller of the Currency who’s appointed to a five-year term by the President with the consent of the Senate.
The report says that in an effort to recoup lost profits banks have been stretching themselves too thin and perhaps not placing enough emphasis on cybersecurity. Now regulators are heightening their focus on cybersecurity following denial-of-service attacks that hit some megabanks earlier this year.
Carolyn DuChene, the OCC’s deputy comptroller of operational risk, said, “We continue to implement a broader strategy that involves increased outreach to all of the banks we supervise in an effort to increase their ongoing awareness and preparedness strategies.”
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Posted by Dan Rampe
Tags: Account Takeover, Bank Fraud, Botnets, CNP fraud, Cookieless Device Identification, Credit Card Fraud, Cyber attacks, Device Detection, Device Fingerprinting, Device ID, Device Identification, Fraud Prevention, ThreatMetrix, ThreatMetrix Global Trust Intelligence Network, TrustDefender Cybercrime Protection Platform, Web Fraud