Couple things I'd like to quickly bring to your attention.
First, have you checked out any of the new Bank Information Security Handbooks we introduced last week?
These electronic editions compile highlights of our content - articles, interviews, blog postings, agency alerts, etc. - in a unique format that gives...
November is here; let the examinations begin.
This past Saturday, Nov. 1, marked the compliance deadline for the Identity Theft Red Flags Rule. After nearly a year of waiting and preparation, financial institutions now are subject to examination by their regulators on their newly-enhanced ID theft prevention...
Everyday we hear about the economy sliding toward a recession -- apparently the worst since the Great Depression. We hear routinely about more banks failing or being acquired and merged, the stock market faltering, banks contemplating a credit freeze and more. A lagging economy is likely to have wide ramifications. In...
What happens to information security when a financial institution is involved in a merger or acquisition?
For Bill Poatevint, Information security officer at United Community Banks, Inc (UCBI), an 8.1 billion, multi-bank holding company based in Georgia, the answer is short: "Everything comes to a screeching...
We recently spoke with Kent Anderson, who has more than 22 years of experience in security and is CEO and Managing Director of Encurve, LLC; an information security consulting company based in Portland, Oregon. Anderson routinely interacts and advises senior executives at banks and other organizations on informed...
Hard to believe that November 1 is already upon us, bringing the onset of the Identity Theft Red Flags Rule compliance. We've been reading about and discussing it for so long that it almost seemed as if though it would always remain six months away, but even a watched regulation eventually transitions into effect. ...
Nov. 1 is but days away, yet only one-third of all financial institutions will be ready to meet the ID Theft Red Flags Rule compliance deadline, according to one industry estimate.
Many institutions already believe they are compliant because they implemented ID theft-prevention measures from previous regulations,...
The Federal Trade Commission (FTC) announced this week it will suspend enforcement of the new Identity Theft Red Flags Rule until May 1, 2009 - six months beyond the original Nov. 1 deadline.
This move will give non-banking creditors and state-chartered credit unions additional time to develop and implement written...
It's interesting how with everything going on in our industry this year, between the credit crisis, bank mergers, bank closings and emerging regulatory compliance requirements (and on and on and on), that we haven't had time to discuss much else. However, work continues out in the trenches, money is still moving into...
The crime of deception is now even more deceptive.
Multi-channel fraud - schemes that are launched simultaneously via telephone, Internet, in person and via mail - is a growing concern for financial institutions. And the linked crimes aren't always easy to spot.
In this exclusive interview, security expert Diana...
The Office of the Comptroller of the Currency (OCC) has issued new Fair Credit Reporting Act (FCRA) examination procedures for rules addressing affiliate marketing, identity theft red flags, and address discrepancies last week. These new examination procedures add to existing FCRA procedures.
OCC examiners performing...
OK, with less than two weeks to go, banking regulatory agencies are getting busy. Busier, I should say.
Last week saw both the OCC and FDIC release their approaches to the Identity Theft Red Flags Rule examination procedures.
No huge surprises here. But what's interesting is when you review the somewhat...
Mergers and acquisitions often present tight time frames in which employees must make life-altering decisions for themselves and their families.
Without a doubt, uncertainty is the number one issue after announcing a merger or acquisition. And the key question that most employees dread is: Who stays and who...
While other college graduates may not find it easy to land their first job, graduate students in information security have more than one option to choose from even before they graduate.
Steven Hernandez a recent graduate from National Information Assurance Training and Education Center at the University of Idaho is...
Interview with David Richards, President of the Institute of Internal Auditors
Internal auditing has always been a key function within financial systems, and it becomes even more so when it comes to IT and information security.
In this exclusive interview, David Richards, President of the Institute of Internal...
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