The science fiction movies from the 1960s had talking computers that interacted with humans. That was considered a far-fatched idea in its time, but the current state of technology for voice biometrics and voice recognition has brought the standard up to a level where banks, including major international entities as...
A phishing incident response plan for financial institutions isn’t written just for good business practice, it’s also a regulatory requirement too.
While it is a challenge to put an incident response plan that meets your regulator’s minimum requirements, you also want to have a well thought out...
Financial institutions need intrusion detection systems that incorporate wireless
The biggest credit-card hacking incident in history exploited a weakness in wireless network security that could have easily been fixed. The lesson for financial institutions is to plug all such weaknesses before wrongdoers discover...
In spite of doom-and-gloom predictions following the FFIEC’s guidance announcements, financial institutions are able to balance convenience with security
As many U.S. banks and credit unions turn a corner on two-factor authentication deployments precipitated by last year’s Federal Financial Institutions...
In what is being described as a “wow†product in the growing line of multi factor authentication products being developed to meet increased regulation for stronger authentication, VeriSign Inc., announced its partnership with Innovative Card Technologies, Inc., the developer of the ICT DisplayCard, to...
Given the high cost of containing information security breaches, financial institutions have invested lots of time and money into developing incident response programs. But how do they know if their program is working properly?
A recent survey of banking executives showed the overwhelming majority plan to increase spending on automated Anti-Money Laundering (AML) transaction monitoring and on staff to help strengthen their compliance programs.
Darren Donovan, head of KPMG’s Forensic Services said the survey, administered by KPMG...
The revelation by TJX Companies, owner of T.J. Maxx and other retail brands, that at least 45.7 million credit and debit cards were compromised over several years highlights anew the risks associated with processing card transactions and the need to protect the information they contain.
The banking industry is one of the most highly regulated and closely supervised among those handling sensitive consumer information. Besides being subject to security breach disclosure laws at the state and federal levels, it must comply with industry-specific laws and regulations related to information security and...
What are some of the constants - - and you’ve obviously, with your years of experience, seen many of them, but what are we still dealing with, the problems you had back in the early days, in terms of information, security and risk? And is the TJX data breach that just recently hit the headlines a glimpse of...
Listen to this latest podcast on CUInfoSecurity.com. You'll hear Tom Walsh, CISSP, and a business continuity expert give his insights on the following:
- Have the lessons learned from 9-11 been retained?
- Why FFIEC has a strong emphasis on testing a Business Continuity Plan
- Common mistakes and assumptions made...
Banks are attracted to Voice over Internet protocol (VoIP) as an alternative to traditional telephone networks because of the potential cost savings, including elimination of long distance charges and the need for only one network to manage both voice and data. However, VoIP entails increased data security risks,...
Securing the network against intrusion is more than complying with the Federal Financial Institutions Examination Council’s mandate for strong authentication—although it’s certainly that. It also makes good business sense. Financial institutions that implement information security technology and...
Prior to joining the American Bankers Association, Doug spent ten years as Assistant Director of the Florida Division of banking where he oversaw the supervision and regulation of Florida’s domestic and international banking industry. During that time, Doug served as an advisor to the US Congressional Office...
Are financial institutions implementing the multifactor authentication laid out in the FFIEC Guidance? That was one of the issues discussed at the RSA panel presentation, "37 Days After the FFIEC Guidance Deadline." The panel of banks, credit unions and industry experts talked about what it took to get this far, and...
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