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.)
Fraud today is global. The same problems happening in the U.S. are simultaneously occurring in other parts of the world. For interested job seekers, there's never been a better time to enter the fraud examiner profession.
As more criminals target branch ATMs, industry experts wonder if links to insider fraud might not be to blame. Recent brazen attacks prove even in a bank or credit union lobby, ATM skimming can strike.
Insider fraud expert Shirley Inscoe says Citi is not the only financial institution that's doing a poor job of keeping up with employee misconduct. Few banking institutions grasp how damaging inside jobs actually are.
RSA customers who feel victimized by last March's breach of the security vendor's computers have viable options that include continued use of the SecurID authentication tokens, those offered by competitors, or something entirely different: biometrics.