According to FINRA, Citi's negligence in adequately supervising Tamara Moon, a former sales assistant at a Citi branch in Palo Alto, Calif., resulted in $749,978 being skimmed from the accounts of 22 Citi customers.
Trust has been a murky trait on the Internet since its inception. Remember the New Yorker cartoon? A dog, sitting by a PC, says: "On the Internet, nobody knows you're a dog." It's hard to trust what you see on the Net. That's more true today than ever.
A consumer advocacy group is calling attention to a little-known fact about seven federal breach notification bills pending in Congress: They would leave certain healthcare information unprotected.
A U.S. District Court in Maine has affirmed a magistrate's May recommendation to deny a motion for a jury trial filed in the ACH-related fraud case between PATCO Construction Inc. and Ocean Bank.
The Health Net Inc. breach that was believed to have affected about 2 million individuals may be larger than originally stated, according to new information from the insurer.
Just over a month after Citigroup confirmed a breach of its online banking platform, a second breach affecting Citi customers has come to light, this time in Japan.
Documenting procedures for the State Department's custom-made, continuous-monitoring tool known as iPost will help ensure that the data collected are appropriately used to protect the agency's global IT system, a GAO audit says.
Yahoo's Justin Somaini believes his fellow CISOs in business and government do a good job keeping their bosses informed of proper information security practices, but could do better in educating the rank and file about them.
What Operation Shady RAT reminds us is not just how vulnerable our IT systems are, but how interconnected we are as a global society, and the fundamental role information technology plays.
"The timing and the targets point to China," says cybersecurity policy expert James Lewis. "Spying right before the Beijing Olympics and focusing on Southeast Asia reflects China's larger interests more than those of any other country."
The FFIEC Authentication Guidance update is out, and third-party service providers need to begin reviewing their internal systems and communicating with their financial institution customers, says Wells Fargo Bank's Phil Alexander.
Organizations taking proper preventative measures realize a cost savings of nearly 25 percent over those that don't, an analysis of a survey sponsored by Hewlett-Packard reveals. Still, the study shows, it takes longer to resolve cyberattacks than it did a year ago.
"It's time to stop shifting the security burden onto retailers and restaurants like Margarita's," says Gartner analyst Avivah Litan on the latest payment card breach. "In fact, it was time for that over five years ago."
Extensive news coverage about the attacks against RSA and others have made customers jittery. "The publicity resulted in many customers' risk tolerance going down whilst their level of awareness and concern went up," says RSA CFO David Goulden.
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