Fraud Advisory on Questionable Tax Refund Scenarios
BITS created a fraud advisory on questionable income tax refunds, oulining suspect scenarios, details and characteristics of the scenarios, red flags, and detection and prevention strategies for financial institutions that process tax refund deposits. It is meant to help institutions recognize scenarios that are potentially fraudulent. The advisory was developed in collaboration with the Internal Revenue Service (IRS) and the BITS Fraud Reduction Program.
April 2013
BITS/Roundtable and Trade Associations Support Cyber Intelligence Sharing and Protection Act (CISPA)
BITS and the Roundtable along with other trade associations support H.R. 624 Cyber Intelligence Sharing and Protection Act (CISPA) to increase cyber intelligence information sharing within the private and public sectors.
April 2013
ITAC/BITS Comment Letter on SSA’s proposed policy on Assigning New Social Security Numbers for Children Age 13 and Under
ITAC, the Identity Theft Assistance Center and BITS filed a letter in support of the Social Security Administration's (SSA) proposed amendment to its policy relating to the assignment of new Social Security Numbers (SSN). Specifically, SSA is proposing changes that will make it easier to address the unique issues associated with the misuse of the SSNs of children age 13 and under. ITAC/BITS support SSA’s proposal as an important step in the right direction and offers suggestions that will improve the proposed policy. The letter also included comments on the all-important topic of preventing SSN misuse, especially with respect to children.
April 2013
CTO Corner: Smart Apps and Their Impact on Financial Services
As mobile users continue to increase, so do the number of new innovative smart applications designed to better serve this growing customer base. While these apps provide benefit they also introduce privacy and security risks that need to be addressed. April's issue explores new consumer and behavioral trends and associated risks. Read more
April 2013
Security for Bring Your Own (Mobile) Device
Security for Bring Your Own (Mobile) Device recommends security practices for financial institutions to allow employees to use their personally-owned mobile devices to access corporate resources. The paper focuses on devices with mobile operating systems such as iOS, Android, Windows RT, or Blackberry. Threat categories, mitigation strategies, and policies are reviewed.
March 2013
Social Media Guidance Comments to FFIEC
On March 25, BITS filed comments to the Federal Financial Institutions Examination Council (FFIEC) on the proposed Social Media: Consumer Compliance Risk Management Guidance. The letter requests a more specific definition of social media, identifies implementation challenges as social media sites are defined by Terms of Use and not contracts, and asks for specific clarifications to the summaries on applicable consumer regulations. Read more
March 2013
BITS Email Authentication Policy and Deployment Strategy for Financial Services Firms
This comprehensive document covers business and process considerations to leverage several email protocols and tools. It is a guide for financial institutions to detect and reduce the number of spoofed email messages that reach consumers and business partners, and includes updated email sender authentication protocols since its original publication in 2009.
February 2013
BITS and Roundtable Call Executive Order on Cybersecurity a Constructive Step Forward Group; Urges Congressional Action
The recently signed Executive Order to improve our nation’s cybersecurity is a constructive step forward and we support its fundamental purpose. BITS continues to support legislation that increases sharing of threat data and analysis across critical infrastructure sectors and with the public sector. Read more
February 2013
At-Risk Adult Training Curriculum
This document provides an outline for institutions to leverage in developing internal training programs on financial abuse of at-risk adults. This document is intended to complement the BITS publication Protecting the Elderly and Vulnerable from Financial Fraud and Exploitation. Read more
February 2013
Innovator: Big Data and Security
This issue explores how the use of Big Data can help to combat fraud and improve security. Read more
January 2013
Top 7 Tips - DDos Cyber Attack Preparation and Response
Since late September 2012, several large financial institutions have been the subject, or under threat, of attacks intended to disrupt the availability of their websites. All financial institutions should review their preparations for dealing with such an attack. Read more
October 2012
Financial Top Level Domains (fTLDs)
fTLD Registry Services, LLC (fTLD), a joint venture between The Financial Services Roundtable and the American Bankers Association, submitted applications to the Internet Corporation for Assigned Names and Numbers (ICANN) to operate two generic Top Level Domains (gTLDs), .bank and .insurance, on behalf of the financial services industry. If awarded, consumers will be assured they are accessing legitimate financial companies and transacting through the most secure cyber environment available today. [Press Release] [BITS gTLD History] [fTLD wewbsite]
May 2012
