Bank spending on fraud and authentication soars

Banks have a lot to worry about as they take their web-based services to new levels. Phishers and others fraud artists are boosting their sophistication levels, a challenge that banks cannot afford not to meet daily. Unsurprisingly, a Gartner survey has found that spending on anti-fraud technologies seems to be on the rise, even in a tough budgetary environment. According to Finance Tech, online banking fraud detection is the most implemented fraud management system among banks, followed by enhanced consumer authentication for websites. Over the next two years, plans for new spending include "stronger caller authentication for customers that telephone call centers." These trends are hardly surprising. This is smart from a compliance and PR point of view.    

For more:
- here's the Finance Tech article

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