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 financial system is in better shape than what it was in 2008 and 2009. But market volatility and regulatory reform could change everything, says former FDIC head William Isaac.
A new payment card breach, this time striking a company that supplies vending machines and games to entertainment venues, has reignited concerns about point-of-sale system security.
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.
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.
"The biggest change these guidelines are bringing is in making information security a board level issue for all banks," says Kamlesh Bajaj, CEO of DSCI.
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 nascent field of cyber intelligence addresses threats that originate anonymously within cyberspace with potentially enormous consequences: physical destruction and economic chaos.
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.
The 9/11 attacks did not just affect America; they impacted the world. The events of that day stir frightening memories in everyone. In the end, every nation is vulnerable to terrorism.
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