Social media, mobility and cloud computing are new areas of risk for organizations, and risk managers need to go back to the fundamentals of understanding the information they are protecting, says Robert Stroud, ISACA's international vice president.
Doug Johnson of the American Bankers Association says banking institutions should spend the next five months focusing on their risk assessments, as they work to meet the FFIEC's new authentication guidance update.
Emerging technology is often touted for enhancing security. But if not properly deployed and integrated, these technologies can hinder rather than improve security.
New mobile technology is behind a growing public concern about Internet security, says former Transportation Security Administration CISO Patricia Titus, who now holds the same post at Unisys.
"The FFIEC guidance does a good job of addressing today's and yesterday's threats and suggested techniques, but it is not sufficiently forward-looking," says Gartner's Avivah Litan. "Two years from now, the guidance will be sorely out of date."
The FDIC's Donald Saxinger says vendor management programs are getting more scrutiny from regulators, especially in areas of emerging technology, such as cloud computing and mobile banking.
Online and mobile banking are taking the world by storm - especially in the Asia-Pacific region. But many institutions are simply not prepared to manage security and privacy appropriately in these venues, says Gartner's Matthew Cheung.
Facebook's facial recognition feature clearly impacts the privacy profession and workplace by creating new challenges and raising significant concerns on the issue of trust.
Organizations are starting to adapt to cloud computing, but they're hesitant about placing their core assets in the online environment, according to results from the 2011 ISACA IT Risk/Reward Barometer.
Breaches will not slow anytime soon, and there's not much financial institutions and the payments chain can do to stop them. At this point, the best course of action for banks and retailers is to focus on damage control.
What's the top threat on the minds of global IT leaders? Employee-owned mobile devices - or BYOD (bring your own device), as the trend is known. The struggle: Do mobile device benefits outweigh the organizational risks?
Organizations looking to improve their privacy management in the event of a breach "have to continually plan and prepare," says Nationwide's Chief Privacy Officer Kirk Herath. That means putting into writing a comprehensive plan.
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