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.
Despite previously announced plans to appeal last month's ruling in the ACH fraud lawsuit filed by Experi-Metal Inc., Comerica Bank now says it has resolved to pay the $560,000 in damages and close the case.
Anomaly detection and behavioral monitoring are minimum requirements or mitigating online risks, and the newly-issued supplement to the FFIEC Authentication Guidance highlights why banks and credit unions should be doing more, says Terry Austin of Guardian Analytics.
Corporate account takeover events are reigniting the debate between banks and their former commercial customers, about everything from fraud liability and the "good faith" standard to commercially reasonable security.
BlueCross BlueShield of Tennessee, which experienced a health information breach affecting nearly 1 million individuals in 2009, has completed the encryption of all its stored data.
The Fed's ruling on interchange, mandated by the Durbin amendment, offers financial incentives for fraud-prevention investments and could fuel a U.S. move toward new card-payment technologies, like EMV.
The General Services Administration expects the cloud-based system will reduce e-mail operation costs by 50 percent and save more than $15.2 million over the next five years.
Performing digital forensics in the cloud isn't necessarily a new discipline, says Rob Lee of SANS Institute. But the task definitely requires a whole new mindset and some new skills from investigators.
There was good news and bad news in the reporting of major health information breaches in the past month. The good news: Only four incidents were added to the official federal tally. The bad news: One of those incidents affected 400,000 individuals.
An integrated delivery system in Connecticut is taking the extraordinary step of encrypting its clinical databases before launching an ambitious health information exchange effort.
From the exposure of thousands of Citi cardholders to the Michaels debit breach, fraud continues to impact card issuers. Involving the consumer in prevention is a step financial institutions must take, says Javelin's Phil Blank.
You don't need to agree with assailants' motivation, most of us don't. But you must understand what's behind their action to help defend against their intrusions.
"The first step is for banks to admit there is a problem before they can address it, and many bankers are still in denial," says Shirley Inscoe, author of the book "Insidious: How Trusted Employees Steal Millions and Why It's So Hard for Banks to Stop Them."
A new concept called Privacy by Redesign, by Dr. Ann Cavoukian, Privacy Commissioner of Ontario, Canada, looks to bring privacy into systems that are already developed.
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