Kevin Sullivan spent months at Ground Zero after the 9/11 attacks on the World Trade Center. Now, post-bin Laden, Sullivan says the 9/11 experience changed him both personally and professionally, and impacted how banking institutions view money laundering and BSA violations.
"With significant progress having been made, with growing recognition of DHS's roles and authorities, and the cybersecurity legislative proposal now delivered to the Hill, it's a logical point for me to leave," Philip Reitinger says.
More questions than answers surround the Durbin amendment's future impact on fraud prevention. With all of these open questions, bankers aren't likely to face any significant changes anytime soon, says FICO's Mike Urban.
"Updating this law to reflect the realities of our time is essential to ensuring that our federal privacy laws keep pace with new technologies and the new threats to our security." says bill sponsor Sen. Patrick Leahy.
It's been nearly two years now since the corporate account takeover spree began. So, what exactly are the courts, institutions and the financial services industry doing today to prevent further incidents of fraud?
A star-studded lineup of top administration officials including four cabinet secretaries and three other senior executives announced the new international strategy, emphasizing the importance of cybersecurity to American foreign policy.
The Obama administration's plan for a federal data breach notification policy is too vague to be effective, and it lacks teeth to penalize violators, according to experts who raise open questions about the proposal.
SWIFT's Gottfried Leibbrandt says conflicting regulatory mandates could further fragment the international payments market, if banks and governments don't align their strategies. Communication among governments, regulators and global financial institutions is critical.
Executives from Apple, Facebook and Google will appear before a Senate panel to explain their companies' practices on collecting and using customer data from smartphones, Sen. Jay Rockefeller announces.