International cooperation is to thank for the takedown of one cybercrime ring accused of using the Conficker worms to steal more than $72 million from bank accounts spanning more than 10 countries.
Security experts at this week's Gartner Security and Risk Management Summit agree: Security, not compliance, has to be the new focus. Cyberintrusions cannot be stopped, and the RSA breach should be a lesson to the industry.
Farzad Mostashari, who heads the Office of the National Coordinator for Health IT, has described why electronic health records play an important role in disaster preparedness.
Dave Jevans of the Anti-Phishing Working Group says most U.S. banking institutions are ill-equipped to fight 2011's latest and greatest security threats, including automated malware.
"Simple passwords alone do not provide sufficient commercially reasonable security," says Jim Payne of fraud victim Choice Escrow. "Where is the principle of doing what is right and just?"
Six months after Michigan-based Experi-Metal Inc. sued Comerica Bank after a breach that resulted in $1.9 million in ACH and wire fraud, a U.S. District Court has favored the commercial customer.
No one is really sure when the FFIEC's new authentication guidance will be issued, but we do know banking institutions can't afford to wait. Hence, our new FFIEC Authentication Guidance Resource Center.
Information Security Media Group announces the launch of FFIEC Authentication Guidance, a resource center dedicated to providing in-depth news and views on the pending online authentication guidance.
The three most common findings during an IT security examination are vendor management issues, a need for improved wire transfer controls, and necessary updates to risk assessments, says Phillip Hinkle, Chief IT Security Examiner for the Texas Department of Banking.
Breaches will not slow anytime soon, and there's not much financial institutions and the payments chain can do to stop them. At this point, the best course of action for banks and retailers is to focus on damage control.
Some organizations hesitate to involve law enforcement in their breach investigations for fear that exposing the hack would cost them their reputations and money. A Justice Department contingent tells a gathering of lawyers why that impression is wrong.
"I'd like to make sure our recommendations fit with what the FFIEC is recommending, to continue to help us mitigate risk," says Michael J. Wyffels, SVP and CTO of QCR Holdings Inc. "But the hackers seem to continue to find new ways to exploit vulnerabilities."
Strong authentication, using both fact-based and behavioral-based fraud detection solutions, should be part of every financial institution's layered security approach, says Reed Taussig, CEO of ThreatMetrix.
Security expert Kate Borten contends the proposed accounting of disclosures rule's requirement to provide patients with a report listing those who have accessed their records is a good idea.
Our website uses cookies. Cookies enable us to provide the best experience possible and help us understand how visitors use our website. By browsing inforisktoday.asia, you agree to our use of cookies.
