After one commercial customer fell victim to corporate account takeover, this institution suffered significant losses and learned that legal disputes rarely favor the bank.
The FDIC's Donald Saxinger says vendor management programs are getting more scrutiny from regulators, especially in areas of emerging technology such as cloud computing and mobile banking.
Bankers aren't waiting for the FFIEC to act on the release of its updated online authentication. Instead, they've already begun to comply with the major points recommended in the draft. And the death of Osama bin Laden has heightened concerns terrorists' efforts to launder money through legitimate banking channels.
Wire fraud incidents from China prove current security measures, including multifactor authentication, are too easy to bypass. And security pundits say it all points back to why the financial industry needs more guidance about adequate online security.
In the wake of the RSA, Epsilon and Sony PlayStation data breaches, we spoke to two global information security leaders and asked for their three biggest leadership lessons learned. Here is what they shared.
A focus on cost and speed, not on data protection, creates a security hole, a survey of cloud computing service providers reveals. Nearly two-thirds of providers say they aren't confident cloud apps are sufficiently secured.
North American Clearinghouse Association, not the government, led the effort to move Food Stamps to e-payments. That's what the government wants to do with the National Strategy for Trusted Identities in Cyberspace initiative, the fed's NSTIC point man says.
Key questions: What impact - if any - will the recent RSA and Epsilon data breaches have on the FFIEC's pending authentication update? And when will this long-awaited banking guidance finally be released?
Top executives seek the CISO's advice to help determine whether cloud computing benefits outweigh the risks. Here are the top five cloud security risks and concerns CISOs must discuss with their leaders.
While the cause of the Epsilon e-mail breach has not been publicly disclosed, the incident's aftermath has seen a growing list of organizations impacted by the breach. It also has ignited a new debate about the sensitivity of e-mail addresses.
Altra Federal Credit Union developed a calculated strategy before moving to the cloud -- advice all financial institutions should follow, says Brian Boettcher, VP of IT, who shares his lessons learned.
"It is the biggest breach we have ever seen; and to say no financial information has been stolen is, well, understating the massive breach and concern," says Neil Schwartzman, founder and chief security specialist at CASL Consulting.
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