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...
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...
The recent release of a University of Michigan study on the security flaws of online banking websites brings attention to the often overlooked area of web application security.
In this exclusive interview, Jeremiah Grossman of WhiteHat Security shares his insights on the importance of web application security for...
Only half of U.S. banking institutions will beat the Nov. 1 deadline for compliance with the Identity Theft Red Flags Rule.
This is the key finding of this survey aimed at gauging the success of institutions' efforts to meet the terms of the new regulatory mandate. The survey, administered electronically in June,...
I was in shock, I could not believe such a headline made front page news on Digg.com. I didn't think anyone would believe me; I had to take a screenshot! OK, OK, I may be exaggerating a bit - however I can say that as much as I visit Digg.com, rarely do I see something that has implications to banking and...
Only half of U.S. banking institutions will beat the Nov. 1 deadline for compliance with the Identity Theft Red Flags Rule.
This is the key finding of a new survey aimed at gauging the success of institutions' efforts to meet the terms of the new regulatory mandate. An even 50% of institutions surveyed say they...
Interview with Tom Field, Editorial Director at Information Security Media Group
As Nov. 1 looms, Identity Theft Red Flags Rule compliance is an absolute must for financial institutions. Information Security Media Group recently surveyed 300 banking and credit union leaders to gauge their progress toward...
I've told this story before about Michael Barrett, CISO of PayPal. When he joined the company, he asked how senior leaders were fighting the phishing problem.
"Technically, we don't have a phishing problem," he was told.
More than 75 percent of bank webites in a recent survey have at least one design flaw that could make customers vulnerable to cyber thieves.
This according to a new University of Michigan study of online banking.
These design flaws stem from the flow and the layout of the websites, according to the study. Led...
Financial institutions should brace themselves for more malicious attacks, as the recent Threat Horizon 2010 report from the Information Security Forum (ISF) warns of an increase in such threats -- including attacks from organized crime and industrial espionage.
"In general, financial services probably represent...
Talk about a harmonic convergence.
Just as the major banking regulatory agencies went before the Senate committee recently to deliver their "State of the Banking Industry" addresses, I was sitting back and starting to think about drafting the questions for our next State of Banking Information Security survey.
Excerpt of a Q&A with William Henley of OTS and Jeff Kopchik of FDIC
In conjunction with the recent Identity Theft Red Flags Rule Roundtable webinar, we conducted an interview session with William Henley of OTS and Jeff Kopchik of FDIC. Topics ranged from:
What should institutions expect on Nov. 1?
What have...
Whenever family or friends or otherwise ask what I do or what kind of company I work for, I always take the opportunity to start off with a question: Do you know what "information security" is? I do not expect much, as I myself could not quite give a clear definition before working in the position I hold now. No one...
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