Michael Jackson, Associate Director of Technology Supervision of the FDIC, provides early data on the impact of the recent California wildfires, including:
Number of banks and other FDIC-supervised institutions impacted;
Specific guidance on what the FDIC expects in a business continuity plan;
Preview of the...
Now reality sinks in.
With last week's long-awaited release of the federal ID Theft Red Flag rules, financial institutions nationwide are starting to figure out "What next?"
Many executives are still absorbing the information. Others are actively working on adding the new requirements to their compliance efforts.
The new Identity Theft Red Flag regulations announced last week are intended to make life tougher for criminals, but they are also expected to seriously complicate compliance efforts, according to financial industry experts.
Richard Swart: When you say operations were affected, was it just having to shut down their branches, or were they actually having to go into a full disaster recovery mode?
William Henley: Well, we had two thrifts: One thrift implemented its disaster recovery plan, but it did not have to relocate; and the other...
Swart: There are a lot of issues that are gaining prominence in IT management today, and one of the most interesting seems to be IT governance. I was wondering if you could summarize IT governance and why it is getting so much attention lately.
Manley: Richard, IT governance helps make sure that companies have the...
Swart: Let’s start talking about risk management, but rather talking about traditional issues of information and business impact analysis. I was wondering, is there some fundamental question or fundamental process that banking and finance executives should start with when they start thinking about risk...
What is the biggest lesson learned from the fast-moving wildfires that scorched a seven-county wide swath of Southern California in late October? “Have a plan.â€
By this time next year, all U.S. financial institutions will be required to have implemented an Identity Theft Prevention Program.
This is the mandate from Washington, D.C., where six federal agencies this week issued the Final Rules on Identity Theft Red Flags and Notices of Address Discrepancy. These final rules...
When it comes to information security, there are as many ways to go wrong as to go right. That is why, before a financial institution attempts to implement and improve its security risk management process, it must examine its fundamental level of maturity. Is the organization ready for risk management?
It’s hard enough to secure the data you control. But how about when your employees are running around plugging in unapproved USB drives into computers and sending out unencrypted sensitive information in emails to customers, putting your institution at risk for a data breach?
Know What Assets You Have and Where They Are – This may sound very basic, but after one laptop turns out to be missing, the basics look like very good rules to follow
Interview with William Henley, Director of IT Risk Management, Office of Thrift Supervsion (OTS)
In this interview, Henley discusses the impact of the California wildfires and reports on the number of thrifts that activated their incident management and disaster recovery plans. Henley also discusses the critical...
John Pironti discusses the fundamental steps that a financial organization must take to design an effective risk management program. He emphasizes the danger of focusing on the technology, instead of on the data flows in an organization. In this interview, you will learn strategies to minimize your risk from data...
The estimated number of reported credit card numbers that were taken in the TJX breach has doubled from more than 45 million to nearly 100 million accounts being affected, according to VISA.
The Financial Crimes Enforcement Network (FinCEN) has announced changes to its Secure Information Sharing Systems so that financial institutions can more easily show their compliance with law enforcement search requests.
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