Three more U.S. banks failed in the first month of 2009. The MagnetBank of Salt Lake City, UT; Suburban Federal Savings Bank, Crofton, MD; and Ocala National Bank, Ocala, FL were closed on Friday, Jan. 30, by banking regulators.
All three banks were turned over to the Federal Deposit Insurance Corp. and placed into...
The Government Accountability Office (GAO) on Thursday issued a new report that sums up what many in the financial services industry have known for years - the regulatory system is in dire need of a makeover.
The GAO report, "A Framework for Crafting and Assessing Proposals to Modernize the Outdated U.S. Financial...
Information Security Media Group (ISMG), publisher of BankInfoSecurity.com and CUInfosecurity.com, recently posed few questions to Gary S. Baker, Partner, Enterprise Risk Deloitte & Touche LLP, and a senior ISACA leader on IT Governance and Assurance. In this exclusive interview, Gary S. Baker an audit and IT...
A Government Accountability Office audit says the Treasury Department needs to have stronger controls in place to oversee how banks and other recipients are using funds from the $700 billion financial bailout package.
The GAO's report to Congress states the Treasury Department does not have a mechanism in place to...
Banking regulators continue to put pressure on financial institutions to improve vendor management. The BITS Shared Assessments Program allows these institutions to evaluate the security controls of key IT service providers and meet regulatory compliance. Register and learn about the latest version enhancements , as...
Mobile Payment Systems, Social Media, Facebook and LinkedIn. These are among the targets of the modern-day money launderer, and it behooves your institution to understand and prepare for them. Register for this webinar to hear directly from money-laundering investigator Kevin Sullivan:
The...
"Who's watching the road?"
That's the question many observers ask amidst the global economic crisis, with its wild market fluctuations and historic failures of well-known banking institutions such as Washington Mutual and IndyMac.
But don't blame these failures solely on institutions' audit committees for being...
Given the increased external scrutiny of banking institutions, what are the requisite skills and responsibilities for internal auditors?
"Up to now the internal auditors and the audit committee at banks have been mainly concerned with what the regulators and examiners have to say, and their prime focus has been on...
State-chartered credit unions may think they've at least temporarily dodged the enforcement bullet re: the Identity Theft Red Flags Rule. But just because the Federal Trade Commission (FTC) pushed back the compliance enforcement deadline for these institutions doesn't mean that they can take a break, industry experts...
Internal auditing has always been a key function within financial systems, and it becomes even more so when it comes to IT and information security.
In this exclusive interview, David Richards, President of the Institute of Internal Auditors (IIA), discusses:
The key differences between internal and IT...
I'm traveling this week and figured I wouldn't have time to make my weekly blog entry while managing through a very full schedule. Writing these posts by itself is simple enough once you have a topic or idea to work with, but air travel, long car rides and fieldwork at multiple client sites don't allow much room for...
An Insider's Guide to Banking Agencies' Examination Guidelines
The Identity Theft Red Flags Rule compliance deadline was Nov. 1. All banking institutions now must prepare for their first examinations on this important new regulation. Register for this webinar to learn from a senior Information security, compliance...
Interview with David Richards, President of the Institute of Internal Auditors
Internal auditing has always been a key function within financial systems, and it becomes even more so when it comes to IT and information security.
In this exclusive interview, David Richards, President of the Institute of Internal...
Banking regulators have turned up the heat on institutions to conduct better due diligence when selecting third-party service providers to manage sensitive data. But how does one determine if a vendor's security practices are truly up to snuff? Register for this webinar to learn through case studies and insights from...
Management of third-party service provider relationships has been a regulatory issue as far back as the FDIC's Bank Service Company Act. But recent, well-publicized security breaches of Heartland Payment Systems, TJX Companies and Hannaford Brothers have brought Vendor Management to the fore, and banking regulators...
Our website uses cookies. Cookies enable us to provide the best experience possible and help us understand how visitors use our website. By browsing bankinfosecurity.com, you agree to our use of cookies.
