We're barely out of January, and already this year has revealed itself as one to remember. Between the worsening conditions within the banking sector, the Heartland breach and a very noticeable shift in the regulatory climate, we're already hard pressed to pick this year's "Story of the Year." And somehow I suspect...
When it comes to regulatory compliance and its intended purpose, I'm a believer. I genuinely believe that if a bank or credit union implements and supports all required controls essential to achieving compliance, they're the better for it, and their account holders can sleep better at night. What you might've missed...
Wow - we've been part of quite a bit of quick decision-making recently. Financial institutions going out of business almost overnight, trillions of dollars being offered from the U.S. government in the blink of an eye, and the largest in the industry merging with and/or acquiring peer institutions within weeks.
Interview with Jody Westby, Adjunct Distinguished Fellow at CyLab and CEO at Global Cyber Risk
At a time when risks are high and consumer confidence is low, corporate boards of directors aren't paying nearly enough attention to information security and cyber threats.
This is the key takeaway from a new Carnegie...
Organizations often face the task of trying to recover data from water-soaked hard disks or servers that have been flooded by hurricanes, bad weather, or even the sprinklers going off in the branch or building.
Rule one -- don't assume that data isn't recoverable, no matter what it has been through, says Jim...
Governance is a term increasingly used in financial institutions, as banking/security leaders try to introduce new processes and disciplines to their organizations.
In this exclusive interview, Jennifer Bayuk, an information security specialist and former CISO at Bear Stearns & Co., discusses:
What governance...
Resource allocation - the people, places and things - is one of the most overlooked aspects of Business Continuity planning.
In this exclusive interview, crime and information security expert Dana Turner offers insights on:
What resource allocation truly means for financial institutions;
Unique challenges...
In the wake of the arrests of 11 hackers tied to the TJX data breach, security experts everywhere are warning of bigger, bolder threats to come.
So, what should banking institutions have learned from TJX-style breaches, and what can they do now to protect their customers and critical financial/informational...
Interview with Cyber Crime Expert Eric Fiterman
In the wake of the arrests of 11 hackers tied to the TJX data breach, security experts everywhere are warning of bigger, bolder threats to come.
So, what should banking institutions have learned from TJX-style breaches, and what can they do now to protect their...
This week's arrest of 11 alleged hackers accused of stealing more than 40 million credit and debit card numbers may be only the "tip of the iceberg," security experts say.
In the largest identity theft case ever prosecuted by the US Department of Justice, 11 alleged hackers from around the globe face up to life in...
Was it the largest synchronized security update in the history of the Internet?
On Tuesday, a coordinated patch was released by security researcher Dan Kaminsky of IO Active, fixing a vulnerability that exists in all Domain Name System (DNS) servers.
What does that mean for financial institutions? Patches are...
Financial institutions are increasingly better prepared for a pandemic disaster, but cyber security attacks are a growing concern.
This is the message from the current and past chairmen of the Financial Services Sector Coordinating Council for Critical Infrastructure Protection and Homeland Security (FSSCC).
George...
Eighty-seven percent of major data breaches could have been avoided through reasonable security measures.
This is the conclusion of a new report from Verizon Business Security Solutions, analyzing 500 forensic investigations of data breaches. Financial institutions made up 14 percent of all companies included in...
The Federal Reserve Banks have 12 information security control deficiencies that must be improved, according to a new report from the U.S. Government Accountability Office (GAO).
On Monday, June 16, the GAO issued its annual audit report in connection with its requirement to audit the financial statements of the...
The Federal Deposit Insurance Corporation (FDIC) has made progress with its internal security controls, but still needs to make significant improvements to its security management practices.
This is the key finding of a recent report issued by the Government Accountability Office (GAO) in an audit of the banking...
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