The Heartland Payment Systems (HPY) data breach came as an unpleasant surprise to many financial institutions and their customers in early 2009. What are the threats we should eye as we look ahead to 2010?
Bernard Madoff will spend the rest of his life behind bars, as he was sentenced today to 150 years in federal prison for the biggest Ponzi scheme ever perpetrated.
Earlier this year in March, Madoff, 71, pled guilty to swindling thousands of investors out of billions of dollars. Prosecutors say the Ponzi scheme...
The NISP Operating Manual (NISPOM) prescribes the requirements, restrictions, and other safeguards necessary to prevent unauthorized disclosure of classified information by US Government Executive Branch departments and agencies. NISPOM Chapter 8 addresses information-system security procedures and...
The Heartland Payment Systems (HPY) data breach came as an unpleasant surprise to many financial institutions and their customers in early 2009. What are the threats we should eye as we look ahead to 2010?
In an exclusive interview, Bryan Sartin of Verizon Business, discusses the company's exhaustive research of...
A former bank teller in Massachusetts has been charged with fraud and aggravated identity theft in a $270,000 fraud scheme. The FBI investigation led to a 25-year-old who worked as a bank teller at a Bank of America branch in Peabody, MA.
Electronic communication is at the heart of every organization, but one compromised e-mail can damage your corporate brand, compromise intellectual property or put you in non-compliance with laws and industry regulations. Privacy concerns, regulatory compliance, and corporate guidelines all need to be factored into...
The Securities and Exchange Commission charged Angelo Mozilo, the former chief executive of the mortgage lender Countrywide Financial, and two other company executives with civil fraud on Thursday.
Verizon Business investigated 90 major data breaches in 2008, including 285 million compromised records. Nearly ¾ of those breaches were external hacks, and 99.9 percent of the records were compromised via servers and applications.
These are among the findings of Verizon's new 2009 Data Breach Investigations...
Bank fraud has evolved over the last several years, but some classic variations keep financial institutions busy.
Here are six old fraud tricks that are back with new twists to bedevil fraud departments and information security professionals.
When is an outsider really an insider? That is the question every financial institution has to answer when reconciling security issues and the use of third-party service providers.
At Central Bank, Lexington, KY, Chris Schum, IT Security Manager, Technology Services, says the bank uses port lockdown software to...
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...
On Thursday morning in a packed courtroom in New York City, former Wall Street financier Bernard Madoff, now the face of greed in our distressed economy, pleaded guilty to 11 charges in what may be the biggest Ponzi scheme ever pulled. Afterward, he was immediately placed in handcuffs and led off to jail amid the...
On Thursday, Bernard Madoff will plead guilty to fraud charges in what is being called the largest Ponzi scheme in U.S. history, said his lawyer Ira Sorkin in a New York court on Tuesday.
Is 2009 the Year of the Insider Threat?
Last August's arrest of a Countrywide employee in California illustrates the potential impact of a single insider with access to sensitive information. The FBI charged the former employee with taking 2 million names and personal information from the mortgage bank and selling...
Most of us deal with the ubiquitous spreadsheet at least once a day in our daily work. Whether it is creating or updating reports for senior management or keeping track of equipment inventories - or the hundreds of other uses for spreadsheets - financial institutions depend on these workhorses to retain and create...
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