Red flags, vendor management, business continuity and disaster recovery. If banking/security leaders thought that 2008 was a challenging year for keeping up with regulatory mandates, the old rock and roll song's lyrics say it best: "You ain't seen nothing yet."
Based on expert insight, the following 10 regulatory...
State-chartered credit unions may think they've at least temporarily dodged the enforcement bullet re: the Identity Theft Red Flags Rule. But just because the Federal Trade Commission (FTC) pushed back the compliance enforcement deadline for these institutions doesn't mean that they can take a break, industry experts...
Interview with Banking/Security Expert Bill Sewall
As of Nov. 1, banking institutions are now eligible to be examined by federal regulators for compliance with the new Identity Theft Red Flags Rule.
So, what should banking/security leaders expect from their initial examinations?
In an exclusive interview,...
At least one question has been answered.
With the election of Barack Obama as the next U.S. President, we know who our nation's leader will be for the next four years. And with Democrats picking up additional seats as the majority party in both the House and Senate, we have a sense that Obama is going to have some...
As institutions look at their calendars and see that November 1 compliance deadline looming, it's time to realize that this isn't just another regulation. The ID Theft Red Flags Rule is about stopping identity theft from happening to your customers.
When I hear information security professionals say they're...
The sad scenario plays out on the news on a regular basis these days. A homeowner facing foreclosure is barricaded inside their home as law enforcement comes to serve the papers. Shots ring out, and officers rush in to find the wounded homeowner.
What happened last Friday with Addie Polk of Akron, Ohio, a...
OK, you've heard enough from me of late about what banking institutions should say or do re: customer confidence and the crazy economic mess we're in.
Well, here's what one bank actually did about it.
It used to be the mantra - "Bigger is Better" was the one thing that made sense when it came to risk management models. Goldman Sachs and Morgan Stanley's conversion into bank holding companies, allowing them to buy other retail banks and more readily borrow money from the Federal Reserve Bank, means that long-chanted...
You know someone. Out of millions of Merrill Lynch customers, you should know at least one. Combine Bank of America's many more millions of banking customers, and you have to know someone. I know quite a few myself. All of these people are waiting to be absorbed into what is ultimately a new regime. This state of...
When I started this job a year ago and reached out to banking/security leaders, the overwhelming message I got was "Security awareness - we don't do it well."
For banking institution employees, maybe there was an information security training seminar when they first started. Or an occasional workshop on identity...
Resource allocation - the people, places and things - is one of the most overlooked aspects of Business Continuity planning.
In this exclusive interview, crime and information security expert Dana Turner offers insights on:
What resource allocation truly means for financial institutions;
Unique challenges...
Interview With Crime/Security Expert Dana Turner
Resource allocation - the people, places and things - is one of the most overlooked aspects of Business Continuity planning.
In this exclusive interview, crime and information security expert Dana Turner offers insights on:
What resource allocation truly...
Identity theft red flags, business continuity planning, vendor management - these topics all have received fresh attention from the regulatory agencies this year. And with more to come before year's end.
So, as a way to both reflect and project, we take a look at the Top 6 Regulatory Issues of 2008 - and identify...
I was in shock, I could not believe such a headline made front page news on Digg.com. I didn't think anyone would believe me; I had to take a screenshot! OK, OK, I may be exaggerating a bit - however I can say that as much as I visit Digg.com, rarely do I see something that has implications to banking and...
One of the tricks of my trade is to see the forest for the trees. Which is to say that with what our practice encounters during fieldwork, what we hear from the regulatory agencies and what we read/hear about in the news, we need to correlate and figure out what it all means. We then need to apply that toward the...
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