In a month of bad news for banking (see recent stories about IndyMac Bank and other failures), our recent series of articles and insights on Gramm-Leach-Bliley Act (GLBA) compliance delivers a reassuring message: Banking institutions are making progress in safeguarding customer information.
A "progressive learning...
The recent release of a University of Michigan study on the security flaws of online banking websites brings attention to the often overlooked area of web application security.
In this exclusive interview, Jeremiah Grossman of WhiteHat Security shares his insights on the importance of web application security for...
More than 75 percent of bank webites in a recent survey have at least one design flaw that could make customers vulnerable to cyber thieves.
This according to a new University of Michigan study of online banking.
These design flaws stem from the flow and the layout of the websites, according to the study. Led...
It could be the draft of an important document that sits on the desktop of an employee's computer, or it could be the excel spreadsheet with sensitive information that an employee took home to work on, then copied onto their home PC. Documents such as these are hiding out in a financial institution as "unstructured...
Was it the largest synchronized security update in the history of the Internet?
On Tuesday, a coordinated patch was released by security researcher Dan Kaminsky of IO Active, fixing a vulnerability that exists in all Domain Name System (DNS) servers.
What does that mean for financial institutions? Patches are...
Remember when you were in school and you hadn't read the chapter like your American history teacher had instructed your class to do on Friday afternoon right before the last bell? It was springtime; who was paying attention to their school work? Who thought there might be a pop quiz on Monday afternoon?
Now, here...
The parent company of the Montgomery Ward website had at least 51,000 records stolen out of a database last December, but failed to notify its customers.
The breach, first detected by Citigroup, a financial services company, showed hackers found a way into HomeVisions.com, a separate website of Direct Marketing...
The Financial Modernization Act of 1999, AKA the Gramm-Leach-Bliley Act, or just plain GLBA.
However you know it, financial institutions now have had several years of regulatory oversight and examination on it, but some are still struggling to meet the regulation's myriad list of requirements, which include...
Eighty-seven percent of major data breaches could have been avoided through reasonable security measures.
This is the conclusion of a new report from Verizon Business Security Solutions, analyzing 500 forensic investigations of data breaches. Financial institutions made up 14 percent of all companies included in...
When a Dallas, TX bank needed some help to stop unauthorized data, it pulled out the biggest guns it could locate to stop the data leaking out of its networks.
The choice was a natural progression of what the bank was already doing to stop data loss, according to Omni American Bank's Chief Information Officer Tony...
We've known for roughly six months now that the Identity Theft Red Flags Rule compliance deadline is Nov. 1, barely four months away. How close, then, are banking institutions to meeting that deadline?
That is the question of the summer, and the answer will be found in the results of our new Identity Theft Red...
On one hand, this step does show that the business has made a conscientious effort to plug a major security hole.
But on the other, can't you see that first lawsuit filed by a breached customer saying "Hey, you gave me this stuff and said my PC was safe ...?"
Credit and debit card fraud: It's the threat that keeps growing and evolving.
A year ago, many banks and credit unions were forced to cancel and reissue thousands of cards as a result of the TJX breach. More recently, banks located in Indiana saw accounts breached from ATM or debit card transactions. Indiana law...
Two men have been charged with making hundreds of fraudulent withdrawals from New York City automatic teller machines earlier this year, taking more than $750,000 in cash.
In a federal indictment filed in the U.S. Southern District of New York, Yuriy Ryabinin, a 32-year-old Ukranian immigrant and Ivan Biltse, 30,...
Preserving the privacy of customer information is a core mandate of Gramm-Leach-Bliley Act (GLBA) compliance - and increasingly an essential for business success.
Banking institutions need strong privacy programs to keep their customers' trust, but also to comply with a growing number of state privacy laws and...
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