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.
Federal and state banking regulators closed one bank and one credit union the week of May 30. These latest closings raise the total number of failed institutions to 58 so far in 2011.
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.
The Federal Deposit Insurance Corp. has fallen victim to another phishing attack, according to an e-mail alert sent out to customers. This newest attack entices consumers to click a link for details about "important information from your financial institution."
For nearly two years, banks and businesses across the U.S. have been plagued by a wave of corporate account takeover. And while there's no one answer, Texas bank examiner Phillip Hinkle sees ways that institutions can better detect and prevent these crimes.
What's the top threat on the minds of global IT leaders? Employee-owned mobile devices - or BYOD (bring your own device), as the trend is known. The struggle: Do mobile device benefits outweigh the organizational risks?
It's clear that major data breaches have become not just a topic of mainstream news, but they're occurring with such frequency and potential devastation that they're almost deserving of a 24-hour news desk.
"Just securing the data is no longer enough," says Trevor Hughes, head of the International Association of Privacy Professionals. 'Privacy professionals, in addition, need to prepare for what happens when things go wrong."
A new pay-at-the-pump card skimming scheme - this one in West Covina, Calif. - gets the attention of law enforcement authorities, who launch a new awareness campaign that warns consumers to avoid using debit cards at self-service stations.
Google alleges that Chinese hackers attacked the Gmail accounts of several hundred U.S. officials, including military personnel, in an effort to obtain passwords and monitor the accounts.
The House Subcommittee on Commerce, Manufacturing and Trade heard from Sony and Epsilon about breaches that adversely affected consumer information. Both companies support a national data security and breach notification law.
New authentication guidance, when it is passed down, needs more attention on mobile, says Fraud Red Team's David Shroyer,a former Bank of America security executive.
Payment card fraud. ACH and wire transfers. ATM skimming. And especially insider crimes. These are among today's top information security threats to institutions, says banking regulator Gigi Hyland in an exclusive interview.
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