The breach earlier this month of certificate authority DigiNotar could prove to be the worst security event ever to happen on the Internet because it threatens, at its core, a fundamental principle of Internet transactions - economic and social - trust.
Federal investigators say the two latest suspects, along with other accomplices, are suspected of being connected with Seattle-area debit- and credit-card skimming schemes that span at least six months.
International communication and public-private partnerships are the keys to cybersecurity in the financial space, according to the Department of Homeland Security and the Financial Services - Information Sharing and Analysis Center.
The Reserve Bank of India issued guidance in April, 2011 for banks to mitigate the risks of use of information technology in banking operations. Here is an overview of the nine topics specifically addressed by the guidance.
Payments are moving away from tangible currency to so-called new economies, where value relies more on reputation than currency. Venues such as Facebook facilitate e-commerce via new economies. But as with any change in the payments scheme, industry experts expect these new economies to be accompanied by new risks.
Nessa Feddis of the ABA says increased investments in technology at the bank and consumer levels have fueled confidence in online banking. "I think the reason you see an uptick in use here is because the channel is more secure."
The Reserve Bank of India's new information security guidelines are expansive, and as a result can actually help improve the overall maturity for Indian financial institutions, says Vishal Salvi of HDFC Bank.
The arrests of three Seattle-area men for their involvement in two separate ATM-skimming schemes highlight technological and social vulnerabilities that international fraudsters have learned to exploit with ease.