Class action lawsuits that banking institutions filed against Target Corp. in the wake of the retailer's massive breach are being consolidated. The suits seek recovery of expenses, such as the cost of re-issuing affected payment cards.
Conventional wisdom dictates that the high demand for IT security practitioner would cause salaries to rise, perhaps significantly. But a new study by SANS shows only a slight fattening of paychecks for many IT security professionals.
The FFIEC is planning cybersecurity vulnerability and risk-mitigation assessments to help smaller banking institutions address potential gaps. The assessments are expected to begin later this year.
Because most online banking customers are active social media users, banking institutions should leverage social media in their fraud awareness campaigns, says David Pollino of Bank of the West, who's a featured speaker at the May 14 Fraud Summit Chicago.
With a second House panel approving the USA Freedom Act, Congress moves a step closer to sending the president a bill to limit the government's bulk metadata collection program, the Center for Democracy and Technology's Harley Geiger says.
"Security as a business enabler" was the mantra echoing through the recently concluded 2014 Infosecurity Europe conference in London, a message that should have been heeded by top executives at retailer Target last year.
As the number of cybersecurity incidents increase, departments and agencies are doing a better job of complying with the law that governs IT security in the U.S. federal government, a new report to Congress from the White House says.
A White House working group exploring big data and privacy has proposed that Congress enact a national data breach notification law and strengthen the government's role in cybersecurity.
Using technology to devalue card data, and leveraging data analytics, are essential to efforts to crack down on fraud, Visa's Ellen Richey said in her keynote presentation at the San Francisco Fraud Summit.
Scores of banking/security leaders gathered at the SF Fraud Summit to learn from the nation's leading experts on topics such as account takeover, big data analytics, insider risks and payment card fraud.
Two key Senators are circulating a draft of cybersecurity legislation designed to promote the sharing of cyberthreat information by offering liability protection. The bipartisan measure is in the early stages of review.
The recent Verizon Data Breach Investigation Report notes more than 16,000 incidents in the past year where sensitive information was unintentionally exposed. "Nearly every incident involves some element of human error," the report notes.
The fact that the U.S. federal government would, under some circumstances, exploit software vulnerabilities to attack cyber-adversaries didn't perturb a number of IT security providers attending the 2014 Infosecurity Europe conference in London.
The Consumer Bankers Association doesn't have an official stance on lawsuits that have been filed by banks against breached retailers, but the association's David Pommerehn says the CBA does support banks' rights to recover losses.
The Target breach. Account takeover. Mobile banking. Big data analytics. If these terms mean anything to you, then stop right now and give some thought to attending our Fraud Summit in San Francisco on April 29.
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