The team at the European Network and Information Security Agency identified 50 security threats that exist within the new web standards and sent recommendations for how they should be addressed to W3C.
As banks and credit unions assess online risk, in light of the updated guidance from the FFIEC, financial fraud analyst Tom Wills says they should consider mobile as a viable layer for out-of-band authentication.
"The more that you could focus in on computer science topics, to understand programming, network-based technology and mobile-based technology, the better off you're going to be," says Rob Lee of SANS Institute.
A new twist in the ongoing online security battle between banks and their commercial customers was reported this week after a corporate account in Omaha, Neb., was hit with thousands in fraudulent ACH transactions.
This $38 billion bank has invested a great deal of time and effort into its online security program, continuously conducting risk assessments and making strides to ensure commercial customers stay informed about evolving online-banking risks.
"Organized crime sees that this is a good business to come in, exploit and take advantage of the loopholes," says L.T. Lafferty, criminal defense attorney and mortgage fraud expert, on the schemes that cost banks billions each year.
With the extension of ENISA's mandate into 2013 by the European Parliament & Council, the agency can continue to educate and collaborate with other nations on cybersecurity issues, an area of constant importance.
As far as Dr. Giles Hogben of ENISA is concerned, now might be the golden opportunity for information security experts to influence the security and privacy measures that may help define Internet safety for the next decade or beyond.
"There are still a lot of inexperienced people out there that are passing themselves off as experts," says Scott Laliberte, managing director of Protiviti, outlining the common challenges of penetration testing.
According to FINRA, Citi's negligence in adequately supervising Tamara Moon, a former sales assistant at a Citi branch in Palo Alto, Calif., resulted in $749,978 being skimmed from the accounts of 22 Citi customers.