Banks and credit unions are feverishly working to meet the FFIEC's authentication compliance deadline next year. But experts say institutions should be looking beyond the guidance, by making investments in cross-channel fraud detection.
Bank of America's Keith Gordon says securing the mobile channel is much like securing any other banking channel: Controlling risks requires layers of security and controls. But educating customers plays a key security function, too.
An estimated 650,000 customers have recently switched from big banks to community banks and credit unions. But are these smaller institutions prepared for the new demand for security and fraud prevention?
Improving regulatory compliance efforts is the No. 1 information security priority for healthcare organizations in the year ahead. That's a key finding of the inaugural Healthcare Information Security Today survey.
Medtronic's announcement that it's launching an "in-depth risk/benefit analysis" following an "ethical hack" of one of its insulin pumps is good news. We hope that Medtronic and all other medical device manufacturers launch long-overdue, aggressive efforts to improve medical device safeguards.
Occupy supporters plan today to protest at several banks' headquarters in NYC. Coming on the heels of cyberattacks that targeted police in Boston, how worried should banks be about growing physical threats and cyberattacks waged by Occupy sympathizers?
What fraud and security issues does Paul Smocer, the new president of BITS, see as being top concerns in the coming year? Mobile payments, social media, and a strong need for institutions and organizations to comply with existing guidance top the list.
Instead of sabotage, as Stuxnet was used on Iranian nuclear centrifuges, Duqu is designed to gather intelligence that could help attackers mount a future digital assault on industrial control facilities.
"This guidance ... will allow the market to evaluate companies in part based on their ability to keep their networks secure," Sen. Jay Rockefeller says. "We want an informed market and informed consumers, and this is how we do it."
The nation's new chief HIPAA enforcer views the protection of privacy as an important way to help ensure patients have access to care. And his passion about the issue means you can expect HIPAA enforcement efforts to intensify in the months ahead.
"It should provide fuel for anyone calling for data breach legislation to include criminal sanctions ...," says Neal O'Farrell of the Identity Theft Council. "This was nothing short of a clumsy cover-up."