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.
Now that the FFIEC Authentication Guidance update has been issued, there is no more important task for banking institutions than to conduct their risk assessments, says Matthew Speare of M&T Bank Corp.
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.
The Obama Administration's cybersecurity proposal for breach notification will require collaboration among differing financial-services providers, within and across borders, says Leigh Williams of BITS.
"Our role is changing in the fact that we see fraud being perpetrated in a new manner everyday via malicious software, banking Trojans and online theft," says Jean-FranÃ§ois Legault, senior manager of forensics and dispute services at Deloitte.
So far, 66 banks and credit unions have failed in 2011. In comparison, 100 institutions had failed by this time in 2010. The FDIC's 'Problem Institutions' list also shows signs of leveling off for the first time since 2008.
Eddie Schwartz didn't shy away from the offer to become RSA's first chief security officer after the security firm experienced a sophisticated advanced-persistent-threat breach. Instead, Schwartz embraced the hack as the reason to take the job. (See RSA to Get Its First Chief Security Officer.)