Globally, cloud computing is embraced as a practice beings great cost and technology efficiencies to financial institutions. But count Singapore among the nations that is proceeding cautiously while addressing security concerns, says James Lee of Trend Micro Inc.
Sony Corp.'s announcement that hackers may have accessed data on 77 million gamers follows a long line of recent breaches. And Neal O'Farrell of the Identity Theft Council says the string of incidents has led to consumer 'breach fatigue.'
Four years ago, the Council of Registered Ethical Security Testers began as an organization to bring standardization to the penetration testing industry. Today, CREST's scope is expanding across industries and global regions, says president Ian Glover.
Online security has come a long way in recent years, but so have phishing attacks. As the Epsilon e-mail breach proves, fraudsters are honing their attacks through the acquisition detailed e-mail profiles and sensitive information connections, says ID security expert Tim Rohrbaugh.
"The phishing only works if the consumer participates; they have to click on something; they have to open something," says Neal O'Farrell of the Identity Theft Council. "So, based on that assumption, shouldn't we be doing more to educate them?"
Gigi Hyland of the NCUA says the latest draft of online authentication guidance is awaiting final signoff from just one FFIEC member agency. And Verizon's new data breach report finds that compromised records resulting from data breaches dropped dramatically in 2010, but the number of breaches continues to grow.
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.
In the wake of WikiLeaks revelations of critical data, Asian banking institutions now are paying even greater attention internally to issues of governance, risk and compliance, says K. Sugumaran of RSA.
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.
As details about the Epsilon e-mail breach unfold, the list of affected companies grows, including major banks and merchants. Here is the latest list of the companies known to have been impacted by the incident.
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."
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.