Demands for greater convenience have driven widespread technological change, and the financial services sector is no exception. Banks and other financial institutions have offered customers increasingly easy ways to move funds and conduct transactions through mobile devices, virtualization and increased online functionality. The dark side of these developments is an explosive rise in cybercrime, growing parallel to the rising ease of access.
Here to analyze these trends is Karen Lissy from RTI International, a not-for-profit institute that provides research and technical expertise to governments and businesses in more than 75 countries. Karen Lissy is a Research Social Scientist with RTI’s Center for Justice, Safety & Resilience. She has more than a decade of expertise in researching identity theft and white collar crime issues, and previously served as a law enforcement analyst investigating identity theft and financial fraud cases. She currently serves on a Department of Homeland Security working group focused on identity theft.
Karen Lissy gives her perspective on the current cybersecurity landscape, and describes how banking through mobile devices and other tools offering more convenient access are heightening cyber risks. She also explains how financial institutions, customers and vendors are responding.