Peer-to-peer, near-field communications and barcode scans are revolutionizing mobile payments. What unique risks do these emerging technologies pose to banking institutions? Two FDIC executives offer insights.
Like the cartoonish Kilroy peeking his head over a wall during World War II, unemployment among IT security professionals has bared its head. But don't take these stats as gospel. The data suggest 'full employment' reigns in the infosec community of workers.
To acknowledge individuals and organizations that are playing critical roles in shaping the way financial services organizations approach information security and privacy, BankInfoSecurity announces its inaugural list of Influencers.
The penalties paid out by HSBC and Standard Chartered Bank for violations to money-laundering regulations should serve as a wake-up call, says Kevin Sullivan. In fact, banking institutions should brace for more fines.
Members of the U.S. Congress may be more sensitive to cyberthreats than they were in the past, but that doesn't mean they truly all appreciate the risk key government and private-sector IT systems face, says House Cybersecurity Caucus Co-Chair Jim Langevin.
The answer seems obvious, especially in the context of IT security and information risk. Yet, is it, especially when developing codes and standards, as well as funding research and development initiatives that involve taxpayer money?
In a new alert, the OCC says banking institutions should be concerned about fraud attempts linked to recent distributed-denial-of-service attacks on prominent U.S. banks.
As the recent PATCO case shows, fraud litigation is moving away from just establishing damages. The key legal question now is: What is reasonable security? Attorneys discuss the 2013 fraud legal landscape.
HSBC and SCB will pay millions in penalties for violating anti-money-laundering laws. Experts say the penalties are justified, but question the deterrent effect.
A presidential executive order on cybersecurity under White House review, if issued, might help ease passage of cybersecurity legislation in the 113th Congress, which convenes in January, despite Republican objection to such a decree.
Because many merchant compromises result from badly installed or configured applications, payments acquirers, such as Chase Paymentech, are stepping up to help address point-of-sale security.
The individual implementing security - the chief information officer - can't be the same as the person responsible for testing security, conducting audit and reporting on security weaknesses, South Carolina Inspector General Patrick Maley says.
Information sharing is key. The more we share about attacks - vulnerabilities and vectors - the more we will learn about how the attacks are waged, who's behind them and what they're after.
President Obama has proclaimed December as Critical Infrastructure Protection and Resilience Month, and is using that declaration to continue his campaign to get Congress to enact comprehensive cybersecurity legislation.
The leaders in Congress on cybersecurity matters are the chairs of the committees that have jurisdiction over IT security. In both houses, chairmanship changes mean new lawmakers will lead legislative initiatives on cybersecurity in the 113th Congress.
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