A former Countrywide Financial Corp. employee was arrested by the Federal Bureau of Investigation earlier this month in Los Angeles for stealing and selling sensitive personal information, including social security numbers on an estimated 2 million mortgage loan applicants from around the country for the last two...
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...
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...
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...
In stepping up the fight against cyber crime, Michael Chertoff, Secretary of the US Department of Homeland Security (DHS), has a simple request: Send some of your best & brightest employees to help the government's efforts.
"We want your ideas, insights and I daresay your employees," Chertoff told the crowd in a...
The Federal Trade Commission has settled with discount retailer TJX, citing the retailer failed to provide "reasonable and appropriate security for sensitive consumer information."
This is the second settlement TJX has made as a result of the largest consumer breach in history. The first settlement, with VISA, came...
In response to the announcement that TJX was not levied any monetary fine as part of its settlement with the FTC, David Taylor, President of the PCI Security Vendor Alliance says this shows TJX's legal team is "a lot stronger than their security team."
Think the pandemic threat isn't real, or that you needn't prepare a thorough plan to account for it? Your organization's regulators disagree. Pandemic planning is a significant regulatory requirement for every financial institution and a key component in government agency requirements. Register for this webinar to...
Best practices to detect and prevent Internet fraud and identity theft while ensuring compliance
Nearly 2 million customers have had their checking accounts compromised in the last 12 months, resulting in upwards of $2B in losses for financial institutions (According to Gartner Research). As online customer...
New survey report reveals FTP usage on the rise despite bad press, data security breaches and compliance penalties inherent in its use. Learn more now. Global businesses require the free-flowing movement of information�from sensitive customer data to logistical process information�to thrive. No one piece of...
Since January 2005, over 167 million credit card numbers have been exposed due to security breaches. Many of the most damaging breaches were the result of hackers exploiting flaws in software. With the PCI Security Standard Council's regulations recently expanding to include specific mandates to assess software for...
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