Mobile definitely has vulnerabilities that pose risks. But are our concerns about open-source platforms and the mainstream availability of downloadable mobile apps over-hyped?
Want to reduce ATM skimming incidents? Heed the advice of Seattle-area banking institutions and law enforcement officials, who have gleaned a half-dozen clues from that region's recent fraud investigations.
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.
"Everyone knows it is happening, but no one is capable of stopping the proliferation of these cyberattacks," says Jim Payne of Choice Escrow and Land Title LLC, a victim of corporate account takeover.
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.
The Dutch company that was deceived by hackers into issuing fraudulent digital certificates is liquidating its assets under the protection of a bankruptcy court in the Netherlands after failing to recover from the attack.
With the Swiss bank offering new details about the severity of its trading scandal, industry experts share insights on risk management and the failure of systems and staff to detect unauthorized trades.
"We have this problem on the Internet, which is: How do I talk to someone I've never met before and know that they are who they say they are?" says Michael Smith of Akamai Technologies.
Risk management expert Frances McLeod says investment banks such as UBS struggle with balance between risk management and making money. "There is a bit of a conflict in the culture," she says.
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.
From 2004 to 2010, Latesha Brown used her privileges to accept and submit forged birth certificates, pay stubs and other documents to obtain loans at several institutions. How did she go undetected for so long?
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.
"You can't have someone arrested for violating your policies," says former Bear Stearns CISO Jennifer Bayuk. "The question is: What did he do, and was there a policy that would have prevented the activity?"
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.
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