Securing data in the public cloud isn't much different from other types of IT security. "It's the same advice we give for almost any deployment of IT because it is still the right thing to do," NIST Senior Computer Scientist Tim Grance says.
Cyberthreats stem from the malware, but monetary losses stem from money mules. I've decided to coin a new term: eFraud. I cannot think of a better way to describe the wave of fraud incidents the financial industry is facing. It's electronic.
NACHA's CEO says ACH-related fraud is often over-hyped, and occurs far less often than check- and payment card-related fraud. But when corporate accounts are breached, fraudulent ACH transactions lead to big financial losses.
"Okay, we have bad guys that might be in the system, but at least we're watching them every minute and hopefully detecting them before they do anything too bad," RSA Chief Technology Officer Bret Hartman says.