How banks fight fraud in electronic banking

By Marcie Geffner -

Banks have more technology and more incentive than ever to combat fraud in electronic banking services. But whether they have enough technology and incentive to protect consumers from the headaches of a compromised account, payment card or identity is doubtful.

"Threats are escalating more quickly than what banks, or even just other businesses in general, can deploy in terms of defenses against those threats," says David Albertazzi, a senior analyst with Aite Group, a Boston-based financial sector research and analysis firm.

Part of the challenge is that the types of financial fraud and characteristics of fraudsters have changed in recent years

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