As technology evolves at a rapid pace, so too do the exciting opportunities for banks to offer new products to their customers. Mobile devices have become virtual banking centers for many consumers, and in a few short years our wallets may be digital rather than made of sweet snake skin.
However, those opportunities also bring new and different security threats and attacks, as hackers target mobile and digital channels. And just last month the FBI announced the arrest of two dozen suspects in the largest international sting operation against card-related cyber fraud activity ever.
And it's not just private hackers and fraudsters who are barraging financial institutions with cyber attacks. organized attacks from nation-states are becoming more common against FIs.
Any bank that wants to take full advantage of new technologies and channels must also consider security concerns in order to minimize risk.