cybersecurity, john zurawski

After a recent revelation by international security software firm Kaspersky Lab that some of the largest banks in the world had an estimated $1 billion stolen from them during the past 24 months, a few questions linger.

How are smaller financial institutions faring versus extremely sophisticated cyber-fraudsters? Are they targeted as heavily as the global 200? Do they have the technological wherewithal to protect themselves from sophisticated cybercriminals?

On the positive side, the small and mid-size institutions may not have some of the vulnerabilities of the larger financial institutions. At a conference hosted by technology research and advisory firm Gartner that focused on identity and access management, one of the three largest financial institutions in the country revealed that much of their fraud was cross channel. They saw fraud online, at the ATM and in the call center. Thirty percent or so of their cross channel fraud originated in the call center.

Complete your profile to continue reading and get FREE access to, part of your ALM digital membership.

Your access to unlimited content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including and

Already have an account?


Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2023 ALM Global, LLC. All Rights Reserved.