It's always sitting there like the 800-pound gorilla in the room - the upcoming IT Audit at the institution. No one asks if it's still there, because we all know it is. We've all gone through at least one IT audit, some successfully, others of us have been handed a list of recommendations from our auditors. One of the...
We’re all guilty of it. The conversation at the table next to you in the fancy restaurant is sounding interesting and as you’re sitting nearby, you can overhear the people as they talk. Sometimes it’s innocuous tidbits of family life, other times it’s more important information, like say,...
Common sense is something all bank directors are expected to possess, bank directors with years of experience seem to be brimming with it. But if you’re a new, or relatively new appointment to a board of directors at a bank,
One of the best ways financial institutions have of protecting critical infrastructure is to monitor system logs, which contain a gold mine of information about the health of the network.
In what is being described as a “wow†product in the growing line of multi factor authentication products being developed to meet increased regulation for stronger authentication, VeriSign Inc., announced its partnership with Innovative Card Technologies, Inc., the developer of the ICT DisplayCard, to...
John Smith, VP Technical Services at an Investment Bank was interviewing a senior information security professional on the phone last month in April, 2007 during the phone interview the candidate suddenly requested John to be on hold as another call was coming through.
As an information security professional at your institution, would you know what signs and indicators to monitor for an insider attack? Dr. Eric Cole, a noted information security expert who has studied insider threats and investigated them at financial institutions describes the problems aren’t only in...
Given the high cost of containing information security breaches, financial institutions have invested lots of time and money into developing incident response programs. But how do they know if their program is working properly?
US retailer TJ Maxx revealed that more than 45 million credit cards were stolen from company servers, with data theft going as far back as 2003. In April, the Massaccusetts Banking Association (MBA), Connecticut Bankers Association (CBA), and the Maine Association of Community Banks (MACB) retaliated with a...
The line forms on the left, as state banking associations representing banks from three New England states have filed a class action lawsuit against TJX Companies Inc., in response to the company’s credit and debit card breach in which more than 45 million cards may have been compromised. More banks are...
One of the recommendations from the President’s Identity Theft Task Force: Decrease the unnecessary use of social security numbers in the public sector by developing alternative strategies for identity management.
Deborah Platt Majoras, Chairman of the Federal Trade Commission and co-chair of the Identity...
A checklist for professionals aspiring to be Leaders and Security Rock Stars
Love What You Do - Have a passion for information security. Do not consider getting in the field because earning potential is high or because your friend is in security.
The release of the President's Identity Theft Task Force report on April 23 with its 31 recommendations has implications for financial institutions.
While the report also focuses on increased law enforcement crackdowns on identity theft and the prosecution of the criminals who perpetrate this crime, the need for...
The best offense is a good defense, is the adage. For financial institutions part of the defense to protect your customers from becoming victims of identity theft is educating them.
When identity theft occurs, 9 times out of 10 the source of where the person’s identity was taken is never fully found. Trust and money are the two things financial institutions have as their products. Once a customer loses trust in your institution’s ability to protect their personal financial...
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