The Obama Administration's cybersecurity proposal for breach notification will require collaboration among differing financial-services providers, within and across borders, says Leigh Williams of BITS.
Now that the FFIEC's updated online authentication guidance is out, banking institutions need to move forward in preparation for 2012 compliance, says Julie McNelley, banking fraud analyst for Aite Group.
So far, 66 banks and credit unions have failed in 2011. In comparison, 100 institutions had failed by this time in 2010. The FDIC's 'Problem Institutions' list also shows signs of leveling off for the first time since 2008.
"Our role is changing in the fact that we see fraud being perpetrated in a new manner everyday via malicious software, banking Trojans and online theft," says Jean-FranÃ§ois Legault, senior manager of forensics and dispute services at Deloitte.
Despite the latest $200,000 fraud spree in Florida, industry experts say pay-at-the-pump skimming incidents still account for a relatively low percentage of card compromises. ATMs remain the No. 1 target.
Eddie Schwartz didn't shy away from the offer to become RSA's first chief security officer after the security firm experienced a sophisticated advanced-persistent-threat breach. Instead, Schwartz embraced the hack as the reason to take the job. (See RSA to Get Its First Chief Security Officer.)
Fraud today is global. The same problems happening in the U.S. are simultaneously occurring in other parts of the world. For interested job seekers, there's never been a better time to enter the fraud examiner profession.