"Organizations are putting in layers of security and tools to safeguard information and assets, however, the fraudsters are attacking our weakest link, the consumer," says Anthony Vitale of Patelco Credit Union.
UBS's $2 billion loss to rogue trading provides lessons for all banks. What's missing in today's financial institution culture is a balance between profits, ethics and governance, says risk management expert Frances McLeod.
"With a company-issued device, you can issue a policy that says users have no rights of privacy over information on the device," says Javelin's Tom Wills. But with employee-owned devices? A whole new set of issues.
RSA Chief Executive Art Coviello challenged a widespread belief that cybersecurity awareness could curb cyberthreats: "There's no amount of consumer education to make them smart enough to resist attacks. They're just too sophisticated."
Bank of America says weekend problems with its website were not related to any online breaches or attacks, although one analyst called the timing "curious" - coming one day after the bank announced new debit card fees.
New guidance from the National Institute of Standards and Technology defines an information security continuous monitoring strategy and shows how organizations can create an information security continuous monitoring program.
Elayne Starkey recently gave up her BlackBerry for an iPhone, and uses the Apple mobile device for personal and work doings, securely connecting to the computer system of her employer, the state of Delaware.
Successful wire fraud attacks cause losses averaging between $100,000 to 200,000 per victim. So, it's not surprising that banks are being sued by business customers for alleged failures to prevent fraud via ACH.