Gary Foster, a former vice president in Citigroup Inc.'s treasury finance department, pleaded guilty to bank fraud he waged on Citigroup and its customers between September 2003 and June 2011.
As we approach the 10-year anniversary of the 9/11 attacks on the U.S., Kevin Sullivan, a former investigator with the New York State Police, reflects on lessons learned and steps industries still need to take to ensure a tragedy like 9/11 is never repeated.
Bertucci's has become a beloved destination for Italian food since its
formation in 1981. With more than 2,000 employees in over 90 locations,
managing unauthorized software downloads on their growing computer
systems has become a daunting task. Unsupported and unauthorized software
and downloads by employees...
A new social-media-management tool provided by the ICBA aims to help community banks monitor social media communications, streamlining posts and comments that appear about banks on and through a number of channels.
Two banks were closed by state and federal banking regulators on Thursday, Sept. 1 and Friday, Sept. 2. These failures bring the year's tally to 87 failed institutions.
Philip Reitinger's appointment as Sony's first chief information security officer comes more than four months after a massive breach of Sony's PlayStation gaming system that exposed the personal identifiable information of some 77 million customers.
Although those in the field understand very well that the CFPB will have an enormous impact on privacy policy-making responsibilities, questions remain about what the agency will actually do.
The FFIEC has issued a revised guidance to require banks to better protect customers and the movement of funds when banking online. However, this is a daunting task: interpreting the guidance, determining what risks are present, how to protect customers, and who can help you with that process, etc. To cut through...
Layered security is one of the core tenets of the new FFIEC Authentication Guidance - and it's perhaps the most effective strategy for detecting and preventing banking fraud schemes. But what are some of today's most mature approaches to layered security, and how are banking institutions employing them to detect and...
A new California law requires that organizations experiencing a data breach provide more detailed information to the individuals affected. The law, which covers breaches involving financial, healthcare and other personal information, goes into effect Jan. 1.
Are executives spending too much time and energy focused on external hacks, sacrificing attention they should be paying to internal threats? It's good that business leaders understand insiders pose risks, but are they taking those risks as seriously as they should?
Doug Johnson of the ABA and FS-ISAC says banks and commercial customers are improving efforts to catch and thwart incidents of corporate account takeover, a sign that the industry is moving in a positive payments direction.
Out with the old; in with the new. It's time for security-minded organizations to invest in the power and protection of the next generation firewall, says Matt Keil of Palo Alto Networks.
"If [employees] aren't being treated right and they don't think leaders at the bank are running the bank correctly, they can rationalize committing fraud," says banking/security expert George Tubin on the risk of insider crimes.
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