Ignorance is not bliss. Two new studies, when viewed together, show that consumers' ignorance of the consequences of their actions coupled with enterprises' unawareness of their computing environment equal unacceptable risk.
"The misfortune here for the banks is that they can have the best fraud-detection systems out there ... but it all breaks down when they call the 'hacker' to verify the transaction," says Gartner's Avivah Litan.
Improved collaboration and communication between small businesses and financial institutions is the first step toward improving online security, says Mark Patterson, an ACH fraud victim. What else would help?
BITS president Paul Smocer says banks can expect an uptick in cybersecurity-focused legislation in 2012. What impact will changes from Capitol Hill have on requirements for data breach notification, information sharing and critical infrastructure?
The potential is real: Congress could slash tens of millions of dollars or much more from initiatives to safeguard the government's critical and most sensitive information and systems. Is such a dire outcome certain?