So, I'd started my weekly blog entry intending to discuss application security (I'm keenly interested in what the just-released BIS survey is going to reveal) when the following headline came across on my BIS RSS feed "Social Engineering Hits Brit Bank Head, Victim of Fraud."
You'll have to forgive me for being so...
A Wells Fargo bank access code was used to steal the personal information of roughly 5,000 consumers, leading the bank to conduct a full-scale inquiry into the data breach.
Wells Fargo says it was notified on July 1 by MicroBilt, an online consumer and commercial credit bureau information provider, that someone had...
Gramm-Leach-Bliley - it's at the heart of every financial institution's security program. In this exclusive interview, Nathan Johns, formerly of the FDIC, discusses current GLBA compliance trends, including:
Where institutions are most challenged to meet compliance;
Where they are seeing successes;
Vendor...
In the wake of the arrests of 11 hackers tied to the TJX data breach, security experts everywhere are warning of bigger, bolder threats to come.
So, what should banking institutions have learned from TJX-style breaches, and what can they do now to protect their customers and critical financial/informational...
To me, it was a given.
In the wake of recent news of IndyMac and other bank failures, it seemed safe to say that U.S. banking institutions were dealing with a bit of a crisis of confidence. I mean, I didn't imagine that line of anxious customers outside IndyMac, did I?
But then I got a recent note from a...
Interview with Cyber Crime Expert Eric Fiterman
In the wake of the arrests of 11 hackers tied to the TJX data breach, security experts everywhere are warning of bigger, bolder threats to come.
So, what should banking institutions have learned from TJX-style breaches, and what can they do now to protect their...
As part of the Nov. 1 Identity Theft Red Flags Rule compliance deadline, financial institutions must step up efforts to train employees and customers alike to be more cognizant of Identity Theft and its symptoms.
The idea behind the education is simple: Increasing security awareness prevents the crime from happening....
Following is a list of the 26 red flags identified for financial institutions in the interagency Identity Theft Red Flags Rule. Institutions must comply with this rule by Nov. 1.
So, if last week's indictment of 11 hackers by the U.S. Department of Justice and the U.S. Attorney General's office was just the "tip of the iceberg" in terms of information security threats to financial institutions and merchants, then what's below the surface?
More breaches, say industry and security experts,...
Interview with William Henley, Director at the Office of Thrift Supervision
The downturn in the U.S. economy has financial institutions challenged to "do more with less." While the focus continues to be on the mortgage crisis, William Henley, Director, IT Risk Management for the Office of Thrift Supervision,...
With fewer than three months to go before the ID Theft Red Flags Rule compliance deadline, banking regulatory agencies this week are starting to unveil their new examination procedures.
The Office of Thrift Supervision (OTS) is the first agency to announce its exam procedures, presenting them today (Aug. 11) in a 2...
I'm out in the field this week conducting a series of services for one our clients. At the moment I'm heavily focused on completing a draft of a new vendor management program for them to implement. Although we have a standard methodology that's been used by the practice for several years, I've taken it upon myself...
This week's arrest of 11 alleged hackers accused of stealing more than 40 million credit and debit card numbers may be only the "tip of the iceberg," security experts say.
In the largest identity theft case ever prosecuted by the US Department of Justice, 11 alleged hackers from around the globe face up to life in...
Identity theft red flags, business continuity planning, vendor management - these topics all have received fresh attention from the regulatory agencies this year. And with more to come before year's end.
So, as a way to both reflect and project, we take a look at the Top 6 Regulatory Issues of 2008 - and identify...
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...
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