Excerpt of a Q&A with William Henley of OTS and Jeff Kopchik of FDIC
In conjunction with the recent Identity Theft Red Flags Rule Roundtable webinar, we conducted an interview session with William Henley of OTS and Jeff Kopchik of FDIC. Topics ranged from:
What should institutions expect on Nov. 1?
What have...
When an institution's focus turns to compliance with the Gramm-Leach-Bliley Act (GLBA), questions always pop up -- What should the institution's core GLBA program include; who should be involved; what kind of information is needed, and what should be prepared for an assessment?
We've asked industry...
Was it the largest synchronized security update in the history of the Internet?
On Tuesday, a coordinated patch was released by security researcher Dan Kaminsky of IO Active, fixing a vulnerability that exists in all Domain Name System (DNS) servers.
What does that mean for financial institutions? Patches are...
Financial institutions are increasingly better prepared for a pandemic disaster, but cyber security attacks are a growing concern.
This is the message from the current and past chairmen of the Financial Services Sector Coordinating Council for Critical Infrastructure Protection and Homeland Security (FSSCC).
George...
Comptroller of the Currency John C. Dugan this week told his agency's compliance examiners that they need to stay focused on compliance despite the industry's recent credit issues.
"We simply cannot take our eyes off compliance while we address safety and soundness," said >Dugan, speaking at the OCC Compliance...
The parent company of the Montgomery Ward website had at least 51,000 records stolen out of a database last December, but failed to notify its customers.
The breach, first detected by Citigroup, a financial services company, showed hackers found a way into HomeVisions.com, a separate website of Direct Marketing...
The Financial Modernization Act of 1999, AKA the Gramm-Leach-Bliley Act, or just plain GLBA.
However you know it, financial institutions now have had several years of regulatory oversight and examination on it, but some are still struggling to meet the regulation's myriad list of requirements, which include...
Only half of U.S. banking institutions say they will beat the Nov. 1 deadline for compliance with the Identity Theft Red Flags Rule.
This is the key finding of a new survey aimed at gauging the success of institutions' efforts to meet the terms of the new regulatory mandate. The survey, administered in June by...
So, how do the third-party service providers respond to regulatory pressure on financial institutions to improve vendor management?
The major banking regulatory agencies have sent a clear statement to the institutions they oversee: Do a better job of selecting, contracting with and managing your major vendors....
Our insightful content just became a whole lot more interactive - and opinionated.
With the debut of five new blogs on BankInfoSecurity.com and CUinfoSecurity.com, Information Security Media Group (ISMG) is opening the floodgates to a whole new level of informed opinion and two-way communication with its vast...
Credit and debit card fraud: It's the threat that keeps growing and evolving.
A year ago, many banks and credit unions were forced to cancel and reissue thousands of cards as a result of the TJX breach. More recently, banks located in Indiana saw accounts breached from ATM or debit card transactions. Indiana law...
Two men have been charged with making hundreds of fraudulent withdrawals from New York City automatic teller machines earlier this year, taking more than $750,000 in cash.
In a federal indictment filed in the U.S. Southern District of New York, Yuriy Ryabinin, a 32-year-old Ukranian immigrant and Ivan Biltse, 30,...
Security is good for your customers - and that's good for your business. When you increase security of your online applications, you boost consumer confidence, loyalty, and sales. You also position your company to comply with current and emerging government regulations.
A new white paper from VeriSign spells out...
Less than a month after TD BankNorth customers in New Hampshire were alerted by the bank that their Visa debit or credit cards may have been compromised comes news of a phishing email scam against the bank's customers. The bank, headquartered in Portland, ME, has $119 billion in assets and 1,100 locations on the east...
The water is beginning to slowly recede from last week's record rain in the Midwest, and the Federal Emergency Management Agency says more than 11 million persons will be affected by the flooding and tornadoes. One Iowa city, Cedar Rapids, was hit with what is being called a "once-in-3000-year flood. The wide ranging...
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