New laws and regulations regarding data security breaches and disclosure laws affect the way in which financial institutions do business. This study provides a review of the scope and impact of data security breaches in the financial industry in an effort to encourage proactive modification to risk mitigation...
Regulatory change is coming - fueled by the ever present news of breaches within the credit card payment networks degrading the faith in today's financial institutions. A new approach is needed to secure, make compliance easier, and enhance the operating efficiency for critical financial datacenters and those...
It may be the biggest data breach we've ever seen - and an eerie harbinger of crimes to come. The Heartland Payment Systems (HPY) hack involves scores of financial institutions and tens of thousands of consumers who've had their accounts compromised by fraudsters. Crimes against processors are on the rise, and in this...
One month after the Heartland Payment Systems (HPY) data breach was revealed, a Philadelphia law firm filed a class action lawsuit against the processor on behalf of two banks and three credit unions. The complaint was filed by Chimicles & Tikellis in U.S. District Court in Trenton, NJ on February 20.
From the recession to the TARP program to the Heartland data breach, it's been a busy year already for U.S. banking institutions. But how are these situations being felt and dealt with on Main Street? In an exclusive interview, Jeff Krejci, Chairman of the Nebraska Bankers Association and President of First State...
The Heartland Payment Systems data breach is on everyone's mind, and the case is in the hands now of the Federal Trade Commission (FTC) if it chooses to investigate. While the FTC will neither confirm nor deny a Heartland investigation, staff attorney Alain Sheer does offer his insight on:
How the FTC investigates...
The U.S. government has for the third time in less than a year offered a lifeline to the mega bank Citigroup. Today it announced a deal with the bank that will give the government control over up to 36 percent of the bank's common stock. The ailing bank shifted preferred shares to common stock to increase its capital.
In financial services -- and particularly in light of the current economic crisis -- there is no more valuable asset than trust. And one of today's biggest threats to that trust is a brand attack, which leverages your company's reputation in criminal ways. This eCrime may be accomplished in a number of ways including...
As financial institutions and other organizations continue to lay off professionals in this economic recession, the ones left standing face the big question: How do I protect my career?
Everyone feels the economic impact one way or another -- with jobs being cut or on hold, and companies hiring less. However, there remain pockets of opportunities for specialized security professionals, according to major recruiting firms, which report brisk business.
The hot jobs: Executive leadership and critical...
The failing economy and the Heartland Payment Systems data breach have focused all of us on the risks of fraud.
But what are today's biggest fraud risks to banking institutions, and how can these risks be mitigated?
In an exclusive interview, Steve Neville, Director of Identity Solutions with Entrust,...
Banking was a major topic in President Barack Obama's first address to the American people. What will be his administration's approach to banking in this recession, and what can we come to expect for policy and regulations throughout 2009?
In an exclusive interview, Kathleen Khirallah, managing director of...
The Payment Card Industry Data Security Standard (PCI DSS) is intended to help organizations proactively protect sensitive customer account data. The standard was developed by the founding payment brands of the PCI Security Standards Council, including American Express, Discover Financial Services, JCB International,...
President Barack Obama's first speech to the nation reeling under the strains of recession was a message of hope, a simple reminder: "We are not quitters," he told the nation on Tuesday. There was an underlying message to the financial services companies about the bank bailout. "It's not about helping banks; it's...
We all know the risk of the insider threat is high, but what are the specific vulnerabilities for which organizations should be particularly vigilant?
In an exclusive interview, Randy Trzeciak of Carnegie Mellon's CERT program discusses recent insider threat research, including:
Patterns and trends of insider...
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