Business continuity planning (BCP) is a key element to Gramm-Leach-Bliley Act (GLBA) compliance, but compliance alone isn't enough to sustain a business in the wake of disaster.
Given recent guidance on business continuity in general, pandemic planning in particular, we caught up with a pair of industry experts to...
Interview with Tom Field, Editorial Director at Information Security Media Group
As Nov. 1 looms, Identity Theft Red Flags Rule compliance is an absolute must for financial institutions. Information Security Media Group recently surveyed 300 banking and credit union leaders to gauge their progress toward...
I've told this story before about Michael Barrett, CISO of PayPal. When he joined the company, he asked how senior leaders were fighting the phishing problem.
"Technically, we don't have a phishing problem," he was told.
This year, a total of seven FDIC-insured banks have been closed:
January
Douglass National Bank, Kansas City, Missouri, with approximately $58.5 million in assets was closed. Liberty Bank and Trust Company of New Orleans, Louisiana has agreed to assume all deposits (approximately $53.8 million).
Within two weeks of one of the largest bank failures ever come the closings of two additional banks in Nevada and California, putting new pressure on banking institutions to address the growing topic of customer confidence.
First National Bank of Nevada, ($3.4 billion assets), Reno, Nevada, and First Heritage...
In the face of regulatory requirements and emerging security threats, banking institutions must consider the policies and procedures necessary for proper retention of audit reports, papers and logs.
Register for this webinar for an overview of the contractual, legal and regulatory compliance requirements for...
First National Bank of Nevada, Reno, Nevada, and First Heritage Bank, N.A., Newport Beach, California, were closed late Friday by the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation (FDIC) was named receiver. The FDIC entered into purchase and assumption agreements with Mutual...
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 been the biggest compliance challenges?
What should institutions pay...
More than 75 percent of bank webites in a recent survey have at least one design flaw that could make customers vulnerable to cyber thieves.
This according to a new University of Michigan study of online banking.
These design flaws stem from the flow and the layout of the websites, according to the study. Led...
John Pironti, chief information risk strategist with Getronics, shares his insight on leading edge risk management practices for information security & banking professionals. His tips include:
Focus on Basic Principles
As we start looking at risk management and more specifically information risk management, which...
It's been seven years since the Gramm-Leach-Bliley Act (GLBA) regulations first came to financial institutions and the interagency guidance was issued by the FFIEC. How far have banks come in meeting it, especially where GLBA 501(b) is concerned?
We asked banking regulators for their insight on what progress has...
The launch of the Payment Card Industry Data Security Standard (PCI DSS) has helped expose serious security shortcomings. The IBM System i (AS/400) presents its own unique set of challenges when it comes to PCI compliance. Read this white paper to learn the following:
How the standard relates to the AS/400
How to...
Financial institutions should brace themselves for more malicious attacks, as the recent Threat Horizon 2010 report from the Information Security Forum (ISF) warns of an increase in such threats -- including attacks from organized crime and industrial espionage.
"In general, financial services probably represent...
Last Friday, IndyMac became another financial institution to fail this year because of the credit crisis.
Taken over by federal banking regulators, IndyMac, a Pasadena, California-based mortgage lender with $32 billion in assets, was the largest thrift on record to fail and the third largest bank failure in...
Talk about a harmonic convergence.
Just as the major banking regulatory agencies went before the Senate committee recently to deliver their "State of the Banking Industry" addresses, I was sitting back and starting to think about drafting the questions for our next State of Banking Information Security survey.
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