With the Swiss bank offering new details about the severity of its trading scandal, industry experts share insights on risk management and the failure of systems and staff to detect unauthorized trades.
Account takeovers are up, but losses are down. Doug Johnson of the ABA says that's because banks and their customers are catching and blocking suspect ACH transactions before they drains corporate accounts.
"We have this problem on the Internet, which is: How do I talk to someone I've never met before and know that they are who they say they are?" says Michael Smith of Akamai Technologies.
The Intelligence and National Security Alliance President Ellen McCarthy used the revelation of the hack, uncovered late Wednesday, to highlight a major point of the study: How government can help industry protect its IT.
While it's good to see more privacy and security details included in the final version of the Federal Health IT Strategic Plan, much work remains to ensure patient information is protected when it's exchanged.
International communication and public-private partnerships are the keys to cybersecurity in the financial space, according to the Department of Homeland Security and the Financial Services - Information Sharing and Analysis Center.
"Once you identify that person based on the unique characteristics of their face, you could then match it with other databases," privacy advocate Beth Givens says, referring to privacy gaps created by facial recognition technology.
The Texas wildfires, which over the past seven days have consumed over 9,205 acres, are a wake-up call to financial institutions to review their business continuity and disaster recovery plans.
Most consumers understand the need for security on laptops and PCs. On mobile devices, the thinking is not the same. "Their behavior is much riskier," says Markus Jakobsson, online security expert.
Out with the old; in with the new. It's time for security-minded organizations to invest in the power and protection of the next generation firewall, says Matt Keil of Palo Alto Networks.
In an exclusive interview about the evolving firewall, Keil discusses:
Why current firewalls are failing us?
The key...
Nessa Feddis of the ABA says increased investments in technology at the bank and consumer levels have fueled confidence in online banking. "I think the reason you see an uptick in use here is because the channel is more secure."
Indiana University School of Medicine is reminding faculty, staff and residents about the importance of encryption and other information security steps after the theft of an unencrypted laptop.
Based on its experience with Hurricane Irene, an executive at Memorial Sloan Kettering Cancer Center in Manhattan advises hospitals to make sure they plan for worst-case scenarios.
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