87% of banks don’t identify fraud in real time. Download the ‘2017 Faces of Fraud Survey’ report now!

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Graham Cluley Security News is sponsored this week by the folks at VASCO. Thanks to the great team there for their support!

The 2017 Faces of Fraud Survey, conducted by iSMG, the world’s largest media organization devoted solely to information security and risk management, delivers revealing insights into the sector’s challenges in fraud practices and strategies, and underscores the growing vulnerability of mobile channels.

The 2017 Faces of Fraud Survey was commissioned by VASCO and compiled with responses from banking and security leaders representing financial institutions ranging from under $500 million to more than $20 billion in assets. Key findings include:

  • 52 percent say today’s fraud schemes are too sophisticated and evolve too quickly to keep pace
  • Only 38 percent have high confidence in their organization’s ability to detect and prevent fraud
  • Almost half identify technical barriers or controls not talking to one another as a top challenge to improving enterprise fraud
  • 41 percent do not want to add new anti-fraud controls that might negatively impact the customer experience
  • 35 percent say they are countering mobile exploits with multifactor authentication
  • Just 13 percent believe they are identifying fraud in real time

Download the 2017 Faces of Fraud Survey, a 27-page report that documents how leaders in the banking and security industries are preparing for fraud. Roughly 250 banking/security leaders participated in this survey, which was conducted to determine:

  • The top forms of fraud afflicting financial organizations in 2017
  • The biggest gaps in organizations’ efforts to detect and prevent fraud
  • What organizations are doing to counter the surge in mobile exploits

Get your copy of the full report now.

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About the author, Graham Cluley

Graham Cluley is a veteran of the anti-virus industry having worked for a number of security companies since the early 1990s when he wrote the first ever version of Dr Solomon’s Anti-Virus Toolkit for Windows. Now an independent security analyst, he regularly makes media appearances and gives presentations on the topic of computer security and online privacy.Follow him on Twitter at @gcluley, Google Plus, Facebook, or drop him an email.

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