Security executives who attended ISMG's Fraud Summit Chicago said they see a growing need for sharing more cyber-intelligence with community banks and credit unions. But how else could smaller institutions improve their fraud-fighting efforts?
Class action lawsuits that banking institutions filed against Target Corp. in the wake of the retailer's massive breach are being consolidated. The suits seek recovery of expenses, such as the cost of re-issuing affected payment cards.
Organizations looking to build a better breach response strategy need to emphasize the basics, including ensuring they have a well-qualified response team in place, security experts, including attorney Ron Raether, advise.
Consumers around the world aren't overly concerned about Internet security, perhaps because they've experienced fatigue from the oversaturated media coverage of data breaches, Unisys Chief Information Security Officer David Frymier says.
In the wake of large-scale breaches against retailers, including Target, the Retail Industry Leaders Association has launched an information sharing center in an effort to strengthen defenses against cyber-attacks.
Conventional wisdom dictates that the high demand for IT security practitioner would cause salaries to rise, perhaps significantly. But a new study by SANS shows only a slight fattening of paychecks for many IT security professionals.
Third-party risks and the Fed's plans for emerging payments will be highlighted at ISMG's Fraud Summit Chicago on May 14. How banking institutions and retailers are expected to respond to new risks posed by external parties will be a focus for our keynote panel.
Card breaches at retailers such as Target and Neiman Marcus will likely be catalysts for improved cyberthreat intelligence and information sharing across the banking and retail sectors, says Mike Braatz of ACI.
Police have withdrawn their allegation that a man arrested for fraud in Georgetown, Texas, also may have been involved in the Target Corp. data breach last December that impacted millions of customers.
"Security as a business enabler" was the mantra echoing through the recently concluded 2014 Infosecurity Europe conference in London, a message that should have been heeded by top executives at retailer Target last year.
On the day Target's CEO resigned in the aftermath of a massive data breach, the Ponemon Institute issued its 2014 Cost of Data Breach Study, which Chairman Larry Ponemon says helps explain why CEOs should be more involved in breach preparedness and response.