A wave of security breaches serves as a catalyst for all types of organizations to assess the need for cyber insurance. Here's the story of one institution that saw the threat and took out a $10 million policy.
Two years after his business was a victim of ACH fraud, PATCO's Mark Patterson doubts whether most small business owners are yet aware of the risks they face. And he doesn't think the FFIEC guidance will help.
ACH fraud victim Mark Patterson says small businesses like his welcome improved online security measures from banking institutions. But is the new FFIEC Authentication Guidance sufficient? Patterson says no.
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.
Banks, government agencies and healthcare providers have upped their efforts to assist consumers after an ID theft incident. But much more needs to be done. One ID-theft recovery expert shares her thoughts about areas in need of improvement.
Online risks, card skimming and data leakage are the top threats to Asia Pacific and Indian banks, and financial institutions are just starting to implement security measures and regulations to combat the growing threat landscape, says Gartner's Matthew Cheung.
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.
ID theft expert Joanna Crane wonders whether banks, government agencies and healthcare providers do enough to assist consumers with ID theft recovery, saying consumer expectations are often loftier than what's being done to meet the demand.
It's ironic that Congressional Democrats and Republicans say they're willing to compromise on cybersecurity legislation. With so much else these days in Congress, compromise is not a 10-letter, but 4-letter word.