The Federal Reserve will make recommendations this summer for how the United States could launch a "fast-payments" system with enhanced authentication, says Kirstin Wells of the Federal Reserve Bank of Chicago.
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.
Another defendant has entered a guilty plea in a $200 million credit card fraud scheme, the third in recent weeks and the ninth so far. Experts weigh in on ways to mitigate this type of fraud.
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.
Leading this week's industry news roundup, SanDisk launches a self-encrypting solid state drive, while ZixCorp unveils a Google Apps message encryption solution.
A multi-layered approach known as "context-aware security" is the most effective strategy for fighting both insider and external cyberthreats, says Gartner analyst Avivah Litan, who explains how this strategy works.
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.
The National Institute of Standards and Technology is developing new cybersecurity standards based on the same principles engineers use to build bridges and jetliners.
Internet users in the European Union can ask Google and other search engines to remove certain sensitive information from Internet search results, Europe's highest court ruled on May 13. ENISA praised the "landmark decision" on privacy.
Marc West of Fiserv says banking institutions have two challenges when it comes to developing mobile-payments solutions - focusing on the product development and preparing for regulatory oversight.
As mobile banking adoption rapidly grows this year, financial institutions need to identify and fill security gaps, says Aite Group analyst Julie Conroy, a featured speaker at the May 14 Fraud Summit Chicago.
Embedding some information security practitioners within business units could help improve IT security awareness in many enterprises, reducing security risk, says Steve Durbin, global vice president of the Information Security Forum.
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.
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