FFIEC Guidance: Has It Reduced Fraud? Two years later, Experts Weigh in on Authentication Updates. Financial losses resulting from account takeover fraud have steadily increased over the last year. Experts say banking institutions have to focus more on a comprehensive security strategy and less on regulatory guidance. For 2013, Aite estimates global fraud losses linked to ACH and wire fraud totaled $409 million 2011 and $455 million in 2012, according to Aite. For 2013 for 2013, Conroy predicts those losses will jump to $523 million and continue to increase through 2016.”]
Source: https://www.cuinfosecurity.com/ffiec-guidance-has-reduced-fraud-a-5905