The fight against cyberattacks is a top priority for financial institutions, and industry insiders are optimistic about President Obama's plan to thwart cyberattacks that lead to corporate account takeover and other forms of fraud.
The Fed's ruling on interchange, mandated by the Durbin amendment, offers financial incentives for fraud-prevention investments and could fuel a U.S. move toward new card-payment technologies, like EMV.
Some 200 people have reported fraudulent debit and credit transactions hitting their accounts after dining at Margarita's Mexican Restaurant in Texas. Investigators believe a third-party vendor may have been hacked.
The arrest is part of a continuing investigation into network intrusions and distributed denial of service attacks against a number of international business and intelligence agencies by what is believed to be the same hacking group.
There are significant hard and soft benefits for government agencies to gain by investing now in solutions built around Trustable Identities, says Mike Ozburn, principal of Booz Allen Hamilton.
On June 28, the FFIEC released its final, formal version of its Authentication Guidance. Not even one month later, we've created three new training programs to help banking institutions understand and conform with the guidance.
Dickie George of the National Security Agency has one word to describe the state of information security education today: "Spotty." And this state must improve if we hope to fill all the growing demand for security pros.
You know the tune: Cyber thieves pirated the town's banking credentials, arranged some bogus "payroll transactions" with the town's bank and then next thing you know ... money mules are transferring funds to the Ukraine.
It's not enough for banking institutions to conform to the FFIEC Authentication Guidance update. They also must ensure that their key vendors meet the same standards, says Philip Alexander of Wells Fargo Bank.
The U.S. government wants to move many services online, but the inability to authenticate customers and develop Trusted Identities has kept agencies from making the transition. This is a problem that could soon be resolved, says Mike Ozburn, principal of Booz Allen Hamilton.
"These are projects that were already...
With such high demand for security professionals, employers must be wary of the prospects they consider. People are known to inflate their resumes and claim knowledge they don't have.
"Privacy and security controls ... are complementary and mutually reinforcing in trying to achieve the privacy and security objectives of organizations," NIST Senior Computer Scientist Ron Ross says.
Social media, mobility and cloud computing are new areas of risk for organizations, and risk managers need to go back to the fundamentals of understanding the information they are protecting, says Robert Stroud, ISACA's international vice president.
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