Details surrounding the reported breach of the International Monetary Fund remain sketchy, but alarming. And Gartner analyst Avivah Litan believes there may be "dozens" of similar incidents that have not been disclosed.
"This is yet another [incident] in what is turning into a major 'breach streak,' which will make all of us rethink what information security really means," says Mike Urban, senior director of fraud solutions for FICO.
"Durbin, as it stands today, is very poor for the payments industry and the consumer, because it would lend itself to reducing fraud prevention and detection," says one banking/security leader about the controversial Durbin Amendment to Dodd-Frank banking reform.
"Eddie also will contribute to product strategy, marketing and technical evangelism for RSA," an RSA spokeswoman says. "This role will leverage Eddie's 20-plus years of security expertise."
Breaches will not slow anytime soon, and there's not much financial institutions and the payments chain can do to stop them. At this point, the best course of action for banks and retailers is to focus on damage control.
Citigroup confirms that a breach of its online banking platform, Citi Account Online, may have exposed personally identifiable information about hundreds of thousands of Citi customers.
Victimized by a hack of its SecurID authentication token that resulted in the breaches of several customers' IT systems, security maker RSA is expected to announce its first chief security officer as early as Friday.
With so much critical information being exchanged today via e-mail, now is the time to deploy next-generation e-mail encryption solutions, says Bob Janacek, CTO and founder of DataMotion.
Strong authentication, using both fact-based and behavioral-based fraud detection solutions, should be part of every financial institution's layered security approach, says Reed Taussig, CEO of ThreatMetrix.
Art Coviello, RSA's executive chairman, confirms that information taken from RSA in March had been used as an element of an attempted broader attack discovered late last month on SecurID customer and defense contractor Lockheed Martin.
David Navetta, an attorney who specializes in IT security and privacy, says the magistrate's recommendation, if accepted by the judge, could set an interesting legal precedent about the security banks are expected to provide for commercial customers.
Authentication expert Steve Dispensa says banking institutions need to realign their authentication infrastructures to include a mix of in-band and out-of-band measures.
Revelations that Google's Gmail and Sony Pictures were both targeted by hackers highlights growing concerns about cybersecurity and the sophistication - and frequency - of attacks, as well as how to keep the public informed about such incidents.
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