It seems that many U.S. banks are prioritizing online bankingconvenience over security issues making it easy for online phishers tocreate counterfeit bank cards. Networkworldreports that a report by Gartner shows that phishers account for agrowing portion of the $2.75 billion in annual losses that bank cardabuse is costing banks. While banks are aware of this problem, theirunderstanding of the links is not always understood, according to theauthor of the report. These scams can be a nightmare for consumers.They are not guaranteed to get their money back because banks willoften use the excuse that they have no proof that a criminal hasscammed the customer. The report also states that security could bebolstered if banks reinstated the use of a PIN offset, a number foundon the magnetic strip of an ATM or debit card and is used as anadditional identifier to an account number and the PIN number. Read more. Related content news analysis DHS unveils one common platform for reporting cyber incidents Ahead of CISA cyber incident reporting regulations, DHS issued a report on harmonizing 52 cyber incident reporting requirements, presenting a model common reporting platform that could encompass them all. By Cynthia Brumfield Sep 25, 2023 10 mins Regulation Regulation Regulation news Chinese state actors behind espionage attacks on Southeast Asian government The distinct groups of activities formed three different clusters, each attributed to a specific APT group. By Shweta Sharma Sep 25, 2023 4 mins Advanced Persistent Threats Cyberattacks feature How to pick the best endpoint detection and response solution EDR software has emerged as one of the preeminent tools in the CISO’s arsenal. Here’s what to look for and what to avoid when choosing EDR software. By Linda Rosencrance Sep 25, 2023 10 mins Intrusion Detection Software Security Monitoring Software Data and Information Security feature Top cybersecurity M&A deals for 2023 Fears of recession, rising interest rates, mass tech layoffs, and conservative spending trends are likely to make dealmakers cautious, but an ever-increasing need to defend against bigger and faster attacks will likely keep M&A activity steady in By CSO Staff Sep 22, 2023 24 mins Mergers and Acquisitions Data and Information Security IT Leadership Podcasts Videos Resources Events SUBSCRIBE TO OUR NEWSLETTER From our editors straight to your inbox Get started by entering your email address below. Please enter a valid email address Subscribe