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.
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.
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.
A review of the month's top stories by Managing Editor Tracy Kitten: A well-crafted e-mail tricked an RSA employee into opening a phishy e-mail that launched a sophisticated attack on the company's information systems, and the list of big-name corporations and brands affected by the Epsilon e-mail breach tops 100.
The latest Verizon Data Breach Investigations Report is out, and the good news is: The number of compromised records is down. The troubling news is: The number of breaches is up. Bryan Sartin, one of the report authors, explains why.
It's been over three months since the accidental disclosure. When will the final FFIEC authentication update be released? "I don't think we're any less safe," says Gartner's Avivah Litan. "We just need to step up enforcements."
White House Cybersecurity Coordinator Howard Schmidt unveils a government/private-sector strategy that the administration says would eventually let users obtain a single credential as a one-time digital password to transact business over the Internet.
Gigi Hyland, board member of the National Credit Union Administration, says the latest draft of authentication guidance is awaiting final signoff from just one member agency of the Federal Financial Institutions Examination Council.
Payment card fraud. ACH and wire transfers. ATM skimming. And especially insider crimes. These are among today's top information security threats to institutions, says banking regulator Gigi Hyland in an exclusive interview.
Marcus Ranum isn't just a well-regarded information security expert. He's also a customer of the RSA SecurID product, and he's got some strong feelings about the RSA breach and how the industry has responded to it.
It's serious news that RSA's SecurID solution has been the target of an advanced persistent threat. But "It's not a game-changer," says Stephen Northcutt, CEO of SANS Institute. "Anybody who says it is [a game-changer] is an alarmist."