Kazuo Hirai, a top Sony executives, says the company is applying advanced security technology, increasing levels of encryption, adding firewalls and implementing early warning systems to detect attacks on network.
SWIFT's Gottfried Leibbrandt says conflicting regulatory mandates could further fragment the international payments market, if banks and governments don't align their strategies. Communication among governments, regulators and global financial institutions is critical.
A star-studded lineup of top U.S. officials including four cabinet secretaries and three other senior executives announced the new international strategy, emphasizing the importance of cybersecurity to American foreign policy.
BITS and the ABA are interested in managing future domains affiliated with bank brands and financial interests. If approved, their domain oversight would allow them to control certain domain names registrations.
When it comes to hot topics, they don't get hotter than authentication, cloud computing and IT governance - all of which I've discussed at length in recent interviews with industry thought-leaders. Let's review some highlights from these conversations.
"No one up here wants to stop Apple or Google from doing the incredible things that you do," Sen. Al Franken says. "What today is about is trying to find a balance between all of those wonderful benefits and the public's right to privacy."
Bankers aren't waiting for the FFIEC to act on the release of its updated online authentication. Instead, they've already begun to comply with the major points recommended in the draft. And the death of Osama bin Laden has heightened concerns terrorists' efforts to launder money through legitimate banking channels.
Wire fraud incidents from China prove current security measures, including multifactor authentication, are too easy to bypass. And security pundits say it all points back to why the financial industry needs more guidance about adequate online security.
"Our security teams were working very hard to defend against denial of service attacks, and that may have made it more difficult to detect the intrusion quickly, all perhaps by design," Sony Computer Entertainment America Chairman Kazuo Hirai said in a letter to Congress.
In the wake of the RSA, Epsilon and Sony PlayStation data breaches, we spoke to two global information security leaders and asked for their three biggest leadership lessons learned. Here is what they shared.
Cybersecurity threats are maturing, but information and risk management have yet to come of age for many Gulf countries. But this maturity must come soon, says Abbas Kudrati, head of information security at the eGovernment Authority of the Kingdom of Bahrain.
From mobile devices to social media and cloud computing, IT governance is all about risk management. "You can't de-risk everything, but you can de-risk the majority of circumstances you will see in normal operations," says governance expert Robert Stroud.