The good news is: The financial services industry is "head and shoulders" above other industries when it comes to being prepared for a pandemic disaster.
The bad news is: There's still a ton of work to be done before banking institutions can say they're truly ready to face such a crisis.
From payment card fraud to skimming attacks and corporate account takeover, we've seen a wide variety of threats to banking institutions and their customers.
And with the advent of the ID Theft Red Flags Rule, and in the aftermath of the economic upheaval, we know banking regulators are paying closer attention to...
Charles Perrow, Ph.D., Professor Emeritus of Sociology at Yale University is famous worldwide for his ideas about "normal accidents" -- the idea that multiple and unexpected failures are built into our society's complex system.
In his most recent book, "The Next Catastrophe," published by Princeton University Press...
Pandemic preparation gets the lion's share of the headlines when it comes to Business Continuity/Disaster Recovery these days. And that's fine. The topic deserves the attention. Needs it.
But that's not to say that pandemic preparation is the only topic of BC/DR conversation.
For Synovus, a $32 billion holding company with 5000 employees and 37 affiliated banks across the Southeast, it's a bit of an understatement to say that IT governance is done on a broad scale.
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.
Vendor management and pandemic preparation are huge topics for financial institutions and regulators alike. On January 29, the National Credit Union Administration (NCUA) spotlighted these issues in a webinar, "Key Examination Issues for 2008." Following the session, we spoke to NCUA Board Member Gigi Hyland about the...
Physical Security -- it's often described as the "forgotten side of security" at some financial institutions, and yet it is a key element of an overall protection strategy.
And because the physical aspect plays a role in so many facets of security, from preventing bank robberies to foiling inside threats, risk...
What are the most overlooked areas for physical security?
Ken Stasiak, president of Secure State, an Ohio-based information security firm that performs penetration testing, says physical security as a whole is overlooked.
"A handful of our clients say they don't need to test it because they know that their...
Phishers and fraudsters might be capturing the headlines, but good old-fashioned bank robbers are still stealing the cash.
That's the news from the FBI, which reports an up-tick in violent crime throughout the nation, and which gives Atlanta a dubious distinction: 2007 bank robbery capital of the U.S.
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...
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...
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