International communication and public-private partnerships are the keys to cybersecurity in the financial space, according to the Department of Homeland Security and the Financial Services - Information Sharing and Analysis Center.
From 2004 to 2010, Latesha Brown used her privileges to accept and submit forged birth certificates, pay stubs and other documents to obtain loans at several institutions. How did she go undetected for so long?
"You can't have someone arrested for violating your policies," says former Bear Stearns CISO Jennifer Bayuk. "The question is: What did he do, and was there a policy that would have prevented the activity?"
The Reserve Bank of India issued guidance in April, 2011 for banks to mitigate the risks of use of information technology in banking operations. Here is an overview of the nine topics specifically addressed by the guidance.
"You need to understand how you are currently using social media in your organization, and how you intend to use it, before you can define policies around social media," says Erika Del Giudice of Crowe Horwath.
Nessa Feddis of the ABA says increased investments in technology at the bank and consumer levels have fueled confidence in online banking. "I think the reason you see an uptick in use here is because the channel is more secure."
The Reserve Bank of India's new information security guidelines are expansive, and as a result can actually help improve the overall maturity for Indian financial institutions, says Vishal Salvi of HDFC Bank.
Government officials have confirmed a potential threat by al-Qaida against the United States as the nation approaches the 10th anniversary of the Sept.11, 2001 terrorist attacks that hit the World Trade Center and Pentagon.