Howard Sprow, vice president of Business Continuity Planning for the Securities Industry and Financial Markets Association (SIFMA) is a long-time leader in emergency management issues in the financial services industry. Recently we interviewed him on SIFMA's work in business continuity and pandemic planning.
The hurricanes that devastated the Gulf Coast regions in the summer and fall of 2005 are nothing new to most people. The personal tragedies, loss of life and property were well documented by the national media.
But what about the story of one financial institution that weathered the storms and emerged intact - its...
Early in the evening on Tuesday, Feb. 5, a powerful storm system hit the Jackson, TN., area. A total of 79 confirmed tornadoes touched down in 10 states over the course of two days, killing 57 people. Among the local businesses hit hardest was Jackson's Union University branch of BancorpSouth, ($13 billion assets,...
There's a lot to think about beyond the security cameras, guards and locks. That's why we made physical security one of our earliest priorities this year, and why you should give it equal consideration.
Following is a recap of the physical security stories we've presented so far this year.
If there's one single notion common to financial institutions of all sizes, it is confidence -the need to have shared trust with employees, partners and especially customers. Without this confidence, banking institutions cannot succeed.
And if there's one common theme emerging from the inaugural State of Banking...
In the wake of news about insider fraud at French bank Societe Generale, two different banks in two different countries have acknowledged information security breaches that underscore the need for increased vigilance - by financial institutions and their customers.
A new report on last fall's national pandemic exercise reveals that financial institutions still have key areas to address in preparing for a global flu outbreak.
Workforce, supply chain and third-party service providers are among the issues targeted for further refinement -- and forthcoming guidelines -- in...
A Philadelphia bank and two Washington State credit unions this week revealed that their customers had been solicited in new, telephone-based phishing attacks aimed at stealing personal account information.
TOM FIELD: I wanted to ask you just to start out regarding data breach response plans. You see a lot of these. Where do you typically see that an institution has some holes in its plan? REBECCA HEROLD: Well, first and foremost, most organizations still do not have a documented privacy breach response plan. ...
If 2007 is any indication, then 2008 is going to be a wild year for financial institutions facing a slew of risk management issues.
Hanging like the sword of Damocles above all is the subprime mortgage crisis, which sees institutions looking for ways to avoid foreclosures and challenges surrounding underwriting....
It was a banner year for information security incidents, which proved to be indiscriminate. No national boundary, employee group or trusted service provider is exempt. And no breach is worth its cost in damages, reparations and loss of reputation. From these incidents, we draw 10 lessons learned to guide financial...
TJX Companies, Inc. (NYSE: TJX) has settled with all but one of the seven banks and associations that sued in a putative class action as a result of the intrusions into TJX’s computer system.
The TJX data breach. The Bank of India hack. The San Diego County wildfires. It's been a year full of memorable disasters - and some notable recoveries and regulations, too.
As we reflect on the biggest stories of 2007, it's clear that bad news was big. Some of our most popular stories were about Commerce Bank,...
Forensics has become a hot topic for a variety of internal factors, including the importance of the Internet to everyday business and, with it, the rise of electronic fraud.
Externally, financial institutions especially feel regulatory heat in the form of FFIEC GLBA Notification Rule, SEC/NASD Rule 3010 and even he...
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