Although hacktivists announced suspension of DDoS attacks against banks, other industries are now getting hit, and banks can't afford to get complacent because of the fraud risk, says security specialist Bill Stewart.
"We felt that it was very important to come out with this and say this was how easy it is for them to break into any U.S. company, and here's how they're doing it," The New York Times' Nicole Perlroth says.
"We're going to have to find a way to address the interests of other states to ... find common ground," Secretary of State John Kerry says. "We're just going to have to dig into it a lot deeper. I don't have a magic silver bullet to throw at you here today."
The proposal, in the form of a bill, lays out a framework that can balance the needs and concerns of government and the private sector and keep Americans safe, says Sen. Tom Carper, one of the measure's chief sponsors.
Hacktivists on Jan. 22 threatened more DDoS attacks against U.S. banks and claimed they recently hit three institutions. Despite banks' improvements in staving off online outages, the longevity of the attacks is concerning, experts say.
With Congress facing $1.2 trillion in budget cuts, Federal Chief Information Officer Steven VanRoekel says funding for cybersecurity initiatives will likely be affected. But with smart planning, government information technology should not be placed at risk.
Which fraud trends need the most attention from U.S. banking institutions in 2013? Distributed-denial-of-service attacks and account takeover, says FS-ISAC's Bill Nelson, who offers fraud-fighting tips.
Tom Ridge, the first Homeland Security secretary, questions the wisdom of granting the Department of Homeland Security greater authority to influence IT security within the federal government and the nation's critical IT infrastructure.
To mitigate the top threats for 2013, organizations need to understand the motivations of potential attackers so they can adequately defend their networks and systems. Experts describe risk management strategies for the year ahead.
The answer seems obvious, especially in the context of IT security and information risk. Yet, is it, especially when developing codes and standards, as well as funding research and development initiatives that involve taxpayer money?
The Government Accountability Office is preparing a comprehensive analysis of the nation's cybersecurity strategy to determine its effectiveness in securing government IT and critical information infrastructures.
Hacktivists announced Dec. 18 that they planned yet another round of distributed-denial-of-service attacks against five U.S. banks. Wells Fargo confirmed its online banking site experienced outages throughout the day.