Banking institutions can expect more cyberattacks, including threats from nation-states, as the U.S. elections draw near. So they must take adequate security steps - and clearly explain them to their customers.
The FS-ISAC's decision to increase the U.S. banking industry's cyberthreat level from "elevated" to "high" is way overdue, Aite's Julie McNelley and other experts say. Here's how banking institutions should enhance security.
Financial institutions are now at high risk of cyberattack, according to the Financial Services Information Sharing and Analysis Center. What can institutions do to protect themselves from new threats?
In the past, just writing "privacy pro" on a business card could get you into the field. "That's not the case today," says the IAPP's Trevor Hughes, who details today's challenges for privacy professionals.
Charles Intriago says AML investments and controls need to be streamlined. And through a new association, Intriago aims to train a new kind of financial-crime specialist that is equipped to connect fraud-fighting dots.
The only way to put a dent in financial fraud and cybercrime is through aggressive prosecution and tough sentences for the guilty. That's why a sentencing last week in the RBS WorldPay case is disappointing.