When a database breach occurs, consumer notification continues to be a public problem, and it's time for the federal government to step in, says Linda Foley, co-founder of the non-profit Identity Theft Resource Center.
"I am hoping for some turn around, but overhang in troubled real estate, unemployment and debt levels are negatives," says Christie Sciacca, former FDIC official.
This week's top news and views: Mobile and online P2P services offer banks and credit unions a competitive edge, and a new Aite report proves internal fraud is more damaging than most banks realize.
When it comes to fraud prevention, things are going to be different in 2011. It's clear that fraud in the United States has reached a tipping point, and financial institutions are at the center of it all.
Anti-fraud activist Jim Woodhill is a man with a plan - or at least he soon will be. By the end of March, he expects to have a task force and plan in place to help banks and businesses conquer ACH fraud and corporate account takeover.
Philip Andreae was there when EMV was born, and he plans to see the EMV evolution through, until it becomes a global standard embraced throughout the world.
"The environment that started by supporting whistleblowers ... is essentially morphing into 'Gee, we as an organization need to be completely transparent, whether we want to or not,'" says Cal Slemp, managing director of Protiviti.
When it comes to sizing up the privacy agenda for 2011, the tone at the top of organizations is all about improving data security, says privacy expert and lawyer Lisa Sotto.
Mobile banking and social networks are expected to pose new security threats in the payments space; and one small-business advocate says it's time for regulatory reform to solve the corporate account takeover problem.
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