Online and mobile banking are taking the world by storm - especially in the Asia-Pacific region. But many institutions are simply not prepared to manage security and privacy appropriately in these venues, says Gartner's Matthew Cheung.
Organizations are starting to adapt to cloud computing, but they're hesitant about placing their core assets in the online environment, according to results from the 2011 ISACA IT Risk/Reward Barometer.
Breaches will not slow anytime soon, and there's not much financial institutions and the payments chain can do to stop them. At this point, the best course of action for banks and retailers is to focus on damage control.
What's the top threat on the minds of global IT leaders? Employee-owned mobile devices - or BYOD (bring your own device), as the trend is known. The struggle: Do mobile device benefits outweigh the organizational risks?
Payment card fraud. ACH and wire transfers. ATM skimming. And especially insider crimes. These are among today's top information security threats to institutions, says banking regulator Gigi Hyland in an exclusive interview.
Organizations looking to improve their privacy management in the event of a breach "have to continually plan and prepare," says Nationwide's Chief Privacy Officer Kirk Herath. That means putting into writing a comprehensive plan.