Imagine the scenario: Your institution has a customer who does all of his banking online -- bill pay, transfers, account balances. This customer calls after seeing an unauthorized transaction. After tracing the account transfers, which were wired overseas, you find the customer's computer loaded with crimeware. Your...
In case you missed it - because it wasn't a huge headline anywhere - here's a bit of news about First Pryority Bank, a 108-year-old community bank based in Pryor, OK.
Well, first a bit of background. First Pryority was founded in 1900 by W.A. Graham,
Just over two years ago, Brian Huntley arrived at Camden National Bank in Maine, charged with responding to regulatory guidance and transforming the bank's information security risk assessment program from one that was threat-based to one that is now asset-based.
Minimize your insider threat!
Can your organization afford the potential cost of one bad hire? We're talking:
Negligent hiring cases in which employers lose 60% of the time, with average verdicts of $3 million;
Average out-of-court settlements of $500,000 and attorney fees.
And what is the one question...
Diana Kelley, partner at Security Curve, an information security advisory company that performs PCI audits shares her insights into the PCI issues facing both financial institutions and retailers.
Kelley, a former information security analyst at Burton Group, was previously an information security advisor at top...
At the heart of the Bank Secrecy Act (BSA) and the core of any good Anti-Money Laundering (AML) program is the Suspicious Activity Report (SAR), which all financial institutions - banks, credit unions, brokers, casinos insurance companies, etc. - must file when confronting questionable transactions. Register for this...
More than 5,000 customer records from 40 international financial institutions were discovered last month on a computer server in Malaysia.
Dubbed a "crime server" by Finjan, the information security vendor that discovered it, this machine held more than 1.4 gigabytes of business and personal data stolen from...
Let the countdown begin.
As of May 1, U.S. financial institutions have just six months left to comply with the new Identity Theft Red Flag Rules, which (among other things) mandate new levels of documentation, training and awareness.
Red Flags is one of the top regulatory priorities of the year, and for many...
Interview with Brian Huntley, VP & ISO, Camden National Bank
Just over two years ago, Brian Huntley arrived at Camden National Bank in Maine, charged with responding to regulatory guidance and transforming the bank's information security risk assessment program from one that was threat-based to one that is now...
With the recent Hannaford data breach, the Payment Card Industry Data Security Standard (PCI-DSS) has come into question - how effective is it really?
Bob Russo, general manager of the PCI Security Standards Council recently shared his views on what happened at Hannaford, as well as other topics.
Given the news in recent weeks - the controversy surrounding New York's ex-Gov. Eliot Spitzer, the $15 million fine assessed against United Bank for Africa, PLC - we knew the crime of money laundering had taken on a life of its own.
But who knew that it also had crept into Second Life?
Real crimes in the virtual...
LendingTree, Societe Generale, TD Ameritrade. These are just a few of the most recent high profile examples of fraud and theft perpetrated by trusted insiders - and its costing these organizations billions of dollars. How is this happening?
Do you have more employees than active accounts?
Do you know who is...
Arizona Central Credit Union of Phoenix, AZ., was hit with a phishing attack via text message to its members in March. While the attack was distributed on a small scale and didn't have much impact, the incident did roust the credit union staff into quick action.
Sadly, such incidents are a familiar...
One midwestern credit union (which prefers to remain anonymous), with nearly $200 million in assets and more than 30,000 members, has been phished four times -- the most recent in 2006, with three of those incidents occurring within a 90-day period.
So what do you do if your financial institution's brand is...
Over the past five years, some of the most wide-ranging and demanding financial management and disclosure regulations in U.S. history have come into force such as the Gramm-Leach-Bliley and Sarbanes-Oxley Acts. Not complying with these regulations may have serious consequences for you and your financial services...
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