So, if last week's indictment of 11 hackers by the U.S. Department of Justice and the U.S. Attorney General's office was just the "tip of the iceberg" in terms of information security threats to financial institutions and merchants, then what's below the surface?
More breaches, say industry and security experts,...
With fewer than three months to go before the ID Theft Red Flags Rule compliance deadline, banking regulatory agencies this week are starting to unveil their new examination procedures.
The Office of Thrift Supervision (OTS) is the first agency to announce its exam procedures, presenting them today (Aug. 11) in a 2...
I'm out in the field this week conducting a series of services for one our clients. At the moment I'm heavily focused on completing a draft of a new vendor management program for them to implement. Although we have a standard methodology that's been used by the practice for several years, I've taken it upon myself...
This week's arrest of 11 alleged hackers accused of stealing more than 40 million credit and debit card numbers may be only the "tip of the iceberg," security experts say.
In the largest identity theft case ever prosecuted by the US Department of Justice, 11 alleged hackers from around the globe face up to life in...
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...
In a month of bad news for banking (see recent stories about IndyMac Bank and other failures), our recent series of articles and insights on Gramm-Leach-Bliley Act (GLBA) compliance delivers a reassuring message: Banking institutions are making progress in safeguarding customer information.
A "progressive learning...
The recent release of a University of Michigan study on the security flaws of online banking websites brings attention to the often overlooked area of web application security.
In this exclusive interview, Jeremiah Grossman of WhiteHat Security shares his insights on the importance of web application security for...
At first, I thought my bank was pretty sharp.
About a year ago, when I logged in to do some routine internet banking - check balances, transfer some funds - I was met by a new security page that wanted to better protect my assets.
Last month I wrote several articles on GLBA compliance, and I asked several people I know who are fluent in these issues what are some of the most common questions they face on GLBA as a security manager or assessor at the institutions they either work at or are assessing?
During my formative years, I developed a tendency to spend considerable time trying to figure out ways to circumvent the myriad systems teenagers and young adults are confronted with. So much of what was expected of me just didn't make sense, and I didn't want to simply go-along-to-get-along. My father would often...
Only half of U.S. banking institutions will beat the Nov. 1 deadline for compliance with the Identity Theft Red Flags Rule.
This is the key finding of this survey aimed at gauging the success of institutions' efforts to meet the terms of the new regulatory mandate. The survey, administered electronically in June,...
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...
Interview with Tom Field, Editorial Director at Information Security Media Group
As Nov. 1 looms, Identity Theft Red Flags Rule compliance is an absolute must for financial institutions. Information Security Media Group recently surveyed 300 banking and credit union leaders to gauge their progress toward...
I've told this story before about Michael Barrett, CISO of PayPal. When he joined the company, he asked how senior leaders were fighting the phishing problem.
"Technically, we don't have a phishing problem," he was told.
Within two weeks of one of the largest bank failures ever come the closings of two additional banks in Nevada and California, putting new pressure on banking institutions to address the growing topic of customer confidence.
First National Bank of Nevada, ($3.4 billion assets), Reno, Nevada, and First Heritage...
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