"It should provide fuel for anyone calling for data breach legislation to include criminal sanctions ...," says Neal O'Farrell of the Identity Theft Council. "This was nothing short of a clumsy cover-up."
Organizations have started achieving PCI compliance, but it's a struggle for many to maintain, says Jen Mack, director of PCI Consulting Services for Verizon.
"Organizations are putting in layers of security and tools to safeguard information and assets, however, the fraudsters are attacking our weakest link, the consumer," says Anthony Vitale of Patelco Credit Union.
UBS's $2 billion loss to rogue trading provides lessons for all banks. What's missing in today's financial institution culture is a balance between profits, ethics and governance, says risk management expert Frances McLeod.
"With a company-issued device, you can issue a policy that says users have no rights of privacy over information on the device," says Javelin's Tom Wills. But with employee-owned devices? A whole new set of issues.
Since the summer of 2009, financial institutions and their corporate customers have been defrauded by increased incidents of account takeover. These incidents have pitted banks and customers against one another in court, and they were a key impetus behind the release of the new FFIEC Authentication Guidance. So, how...
The threat landscape has evolved, and India's banking institutions must grow their information security strategies, says Anand Naik of Symantec, which just released a report that offers a new security agenda to institutions.
"Everyone plays a role in protecting card data," says PCI Council head Bob Russo, offering the group's first public response to criticism from Verizon's new report on the state of PCI compliance.
BofA's announcement to charge customers for debit transactions is likely just the beginning, as banks across the U.S. react to debit interchange cuts that take effect Oct. 1.
When it comes to mobile banking, which do you believe is the greater security risk: the latest evolution of malware or continued bad behavior by the end user? Experts' answers may surprise you.
Discussing Verizon's new report on the state of PCI compliance, PCI expert Jen Mack says payment card security today is "disappointing," and global merchants are at serious risk of new data breaches.
Fraud is winning in the fight against cybercrime. Why? Because financial institutions continue to rely on ineffective technology and controls, says fraud analyst Tom Wills says.
As smartphone usage grows, so do emerging threats of mobile malware. When it comes to mobile banking security, financial institutions can only do so much. Security solutions will have to come from mobile vendors, says ENISA's Giles Hogben.
Want to reduce ATM skimming incidents? Heed the advice of Seattle-area banking institutions and law enforcement officials, who have gleaned a half-dozen clues from that region's recent fraud investigations.
Our website uses cookies. Cookies enable us to provide the best experience possible and help us understand how visitors use our website. By browsing bankinfosecurity.asia, you agree to our use of cookies.