Updated Saturday, April 19, 2014 as of 2:50 AM ET
Rise in Digital Banking Heightens Fraud Risk, Bankers Say
Online and mobile banking have forever transformed the way people bank, but the digital evolution has a dark side: it is increasingly creating new opportunities for fraudsters to hack into accounts.
Text messaging and email are increasingly becoming vehicles for phishing scams in which fraudsters send phony messages to bank customers and fool them into providing login credentials or account information. Mobile check deposit is touted for its convenience, but it has also created opportunities for "double-dipping" in which thieves scan images of checks into one account and cash the physical checks elsewhere.   more »
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Adding to the information services Morningstar offers to financial advisors, the company has acquired ByAllAccounts, a firm that provides data aggregation technology for financial applications. more »
An organization calling itself Anonymous Ukraine has boasted of a huge theft of American debit and credit cards. Many of the card records are old, and some appear to be from earlier breaches. However, the claims have to be taken seriously, investigators say. more »
Under FINRA rules, plaintiffs may be able to demand a trial. more »
A graying workforce. A homogenous culture. New technologies. With its future at stake, the wealth management industry is finally confronting its many challenges. more »
Beset by a graying workforce, an aging clientele and a shortage of young talent, the wealth management industry is at long last changing course. more »
As a young congressional intern, RBC branch manager Amy Sturtevant wanted to make a difference. A career as a financial advisor afforded her the way to do that. more »
Attorney, author and financial fraud expert Kathy Phelps offers advice on how to protect clients from falling victim to a Ponzi scheme. more »
Former UBS banker Mark Zaino walked out of court a free man Thursday after a federal judge chose to impose no further sentence on him for his role in rigging municipal bond contracts. more »
An advisor team which managed more than $600 million in assets at Merrill Lynch has left the firm to join Morgan Stanley. more »
The constant monitoring is helping the bank keep tabs on customers' likes and dislikes — and stay on top of complaints. more »
For investment advisors with a small pool of clients, the threat of a cyber attack that could compromise investors' personal identifying information is especially acute, says one IT expert. more »
Kitces and Alan Moore are launching XY Planning Network, which will assist financial advisors working with Gen X and Gen Y clients. more »
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