Reported data breaches increased by nearly half in 2008, and 12 percent of the total hacks were at financial institutions - up from 7 percent in 2007.
This is the news from the Identity Theft Resource Center's (ITRC) 2008 breach report, which shows that 2008's 656 reported breaches were up 47 percent over 2007's...
Sitting down at your desk wondering how you're going to get your info sec budget through the next finance meeting unscathed and still manage to meet all of your department's regulatory requirements? Well, I can assure you, you're not alone.
I've heard that timing is the key to comedy; it may well be true for information security as well.
Late last week I'd sent an email to the BIS (BankInfoSecurity.com) team suggesting that they consider publishing a piece about phishing. I've been getting clobbered with a wide-range of phishing emails over the past...
Check fraud. Crimes against children and the elderly. These are among the current faces of Identity Theft, and experts expect to see even more of these opportunistic crimes in 2009.
To help prevent these crimes - and to help banking institutions to protect their customers - Linda Foley, founder of the Identity...
Red flags, vendor management, business continuity and disaster recovery. If banking/security leaders thought that 2008 was a challenging year for keeping up with regulatory mandates, the old rock and roll song's lyrics say it best: "You ain't seen nothing yet."
Based on expert insight, the following 10 regulatory...
I'm excited about the news we're announcing today re: opening access to all of the articles on our site.
With more people able to view our stories w/o first having to register or log in, that will enable more opportunities for folks to comment on our stories, which then fuels one of my favorite parts of this job:...
As wild as the end of 2008 has been, I can't get my mind off 2009.
This is because I'm just now helping to put the finishing touches on our annual State of Banking Information Security survey, which helps us take the pulse of the banking/security community, so we can gauge the priorities for the year ahead.
Last...
At a time when resources are tight and risks are abundant, many banking institutions are going mobile.
This is one of the findings of the recent Banking Confidence Survey, wherein 41% of respondents say their immediate business objectives include investment in new and enhanced services such as mobile banking. Their...
State-chartered credit unions may think they've at least temporarily dodged the enforcement bullet re: the Identity Theft Red Flags Rule. But just because the Federal Trade Commission (FTC) pushed back the compliance enforcement deadline for these institutions doesn't mean that they can take a break, industry experts...
Interview with Banking/Security Expert Bill Sewall
As of Nov. 1, banking institutions are now eligible to be examined by federal regulators for compliance with the new Identity Theft Red Flags Rule.
So, what should banking/security leaders expect from their initial examinations?
In an exclusive interview,...
One night in early October, Harbor Credit Union of Green Bay, WI, warned its members of a recent mass of robocalls. "An automated dialer started phoning people and telling them that their account had been compromised, and asking them to enter information," says Mike DeGrand, president of the institution. People were...
Internal auditing has always been a key function within financial systems, and it becomes even more so when it comes to IT and information security.
In this exclusive interview, David Richards, President of the Institute of Internal Auditors (IIA), discusses:
The key differences between internal and IT...
The crime of deception is now even more deceptive.
Multi-channel fraud - schemes that are launched simultaneously via telephone, Internet, in person and via mail - is a growing concern for financial institutions. And the linked crimes aren't always easy to spot.
In this exclusive interview, security expert Diana...
I'm traveling this week and figured I wouldn't have time to make my weekly blog entry while managing through a very full schedule. Writing these posts by itself is simple enough once you have a topic or idea to work with, but air travel, long car rides and fieldwork at multiple client sites don't allow much room for...
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