BankInfoSecurity Week In Review for Friday, April 22, 2011

Authentication Guidance May Be Near, and Data Breaches: Inside the 2011 Verizon Report
Gigi Hyland of the NCUA says the latest draft of online authentication guidance is awaiting final signoff from just one FFIEC member agency. And Verizon's new data breach report finds that compromised records resulting from data breaches dropped dramatically in 2010, but the number of breaches continues to grow.Here's a list of some of this week's most compelling content on
  • FFIEC Guidance. The long-awaited update to the 2005 authentication guidance may be closer to release than some observers believed. Gigi Hyland, board member of the National Credit Union Administration, says the latest draft of the guidance is awaiting final signoff from just one member agency of the Federal Financial Institutions Examination Council;
  • Data Breaches: Inside the 2011 Verizon Report. The latest Verizon Data Breach Investigations Report is out, with some good news. According to Verizon, the number of compromised records is down. But that's only half the story. The troubling side of the report's findings is that despite the decrease in compromised records, the number of data breaches is actually up; and
  • Epsilon Breach: The Growing Impact. More than two weeks have passed since Epsilon, the online marketing unit of Alliance Data Systems Corp., revealed that an outside intrusion hacked into some of its customer files containing consumer e-mail addresses. While the cause of the incident has not been publicly disclosed, its aftermath has seen a growing list of organizations impacted by the breach.

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