If 2007 is any indication, then 2008 is going to be a wild year for financial institutions facing a slew of risk management issues.
Hanging like the sword of Damocles above all is the subprime mortgage crisis, which sees institutions looking for ways to avoid foreclosures and challenges surrounding underwriting....
MIKE D'AGOSTINO: Hi. This is Mike D'Agostino with Information Security Media Group, producers of BankInfoSecurity.com and CUInfoSecurity.com. We recently attended the BAI 2007 Retail Delivery Conference and Expo in Las Vegas, where the theme was "Customer Innovation in the Banking and Financial Services Industry."...
Breach is a Warning to All Financial InstitutionsThe announcement by online brokerage TD Ameritrade that a database had been breached reinforces an important lesson to other financial institutions: Know your systems and who’s accessing them.On Sept. 14, Ameritrade went public with the news that it had...
CA Bill Would Make Bad Security Costly To Retailers Move over data breach notification laws: There’s a tough new bill in town, under which banks and credit unions could get money back from breached retailers that didn’t do right in protecting credit or debit card information. This new data breach...
Incident Response Starts With a Comprehensive – and Tested – Plan of Action It’s 3 a.m., and your cell phone is buzzing off the bedroom dresser. Your boss is calling to tell you that the network servers that support your institution’s online banking site have been offline for the last two...
When talking about data breaches and the need for security, whenever credit or debit cards are mentioned, the words "Payment Card Industry Data Security Standards" will appear. This apparently causes many in the financial services and retail industries to reach for that bottle of aspirin and a glass of water....
Information about the threats of identity theft seem to be everywhere -- media headlines, websites, billboards, television ads, and your financial institution has probably warned its customers of the problem.
The real question is – how bad is the problem? When you compare studies and reports, it can yield...
Employees play an integral role in protecting the assets of an institution, and as such, need to be adequately trained and made aware of the basic security practices which are frequently overlooked. A set-it and forget-it approach "we're protected because we have a firewall" to information security ignores end-users,...
RICHARD SWART: Could you tell us a little bit more about your role in the FDIC and could you explain how the FDIC is tracking cyberfraud? DAVID NELSON: Sure. Recently, I have become more of an analyst. Before, I was an examiner, as you well know, but now, I've turned into more of an analyst, where I review a lot of...
While consumers like the convenience of online banking, financial institutions need to be prepared to mitigate certain risks that may expose consumer information, says a leading authority on data security and privacy.
The deadline of June 30th has come and gone, and thousands of companies have demonstrated that they are incapable of complying with a set of security guidelines to prevent data breaches and protect credit card data against identity theft. These security guidelines are from the Payment Card Industry (PCI).
When you think about the number of PIN numbers, passwords, or passphrases you use every day: getting money from the ATM or using your debit card in a store, logging on to your computer or email, signing in to an online bank account or shopping cart...the list seems to just keep getting longer.
Learn in detail the current financial scams in circulation from phishing and lottery scams, ATM and credit card skimming, among many others.
Learn proactive defenses to prevent consumers and employers from falling victim.
The science fiction movies from the 1960s had talking computers that interacted with humans. That was considered a far-fatched idea in its time, but the current state of technology for voice biometrics and voice recognition has brought the standard up to a level where banks, including major international entities as...
In what is being described as a “wow†product in the growing line of multi factor authentication products being developed to meet increased regulation for stronger authentication, VeriSign Inc., announced its partnership with Innovative Card Technologies, Inc., the developer of the ICT DisplayCard, to...
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