Sen. Susan Collins, who, like President Obama, backs the Cybersecurity Act, cautions the president against issuing an executive order to protect the nation's critical IT, saying it would send an signal that congressional action isn't urgently needed.
The only way to put a dent in financial fraud and cybercrime is through aggressive prosecution and tough sentences for the guilty. That's why a sentencing last week in the RBS WorldPay case is disappointing.
By combining responsible management, risk management and compliance functions and internal audits, organizations will go far in securing their data and systems, says PricewaterhouseCoopers Partner Carolyn Holcomb.
"We find it hard to believe that there are any reasons or basis to oppose this legislation," presidential counterterrorism adviser John Brennan says of the Cybersecurity Act of 2012. "I'm just very puzzled as to why individuals would oppose this."
Banks and credit unions are investing in enhanced fraud detection, but are they spending money on the right things? The new Faces of Fraud survey report shows too many are still confused by updated FFIEC demands.
FTC settlement agreements in two cases involving data exposed on peer-to-peer networks offer a reminder of the risks involved in using the networks. Social Security numbers, healthcare information and other personal details were exposed.
Government Accountability Office auditors have identified weaknesses in information security controls at the Securities and Exchange Commission that jeopardize the confidentiality and integrity of the SEC's financial information.