These arrests also highlight the U.S. vulnerability to crimes involving payment cards with magnetic stripes. "The U.S. is a criminal's playground right now," says John Buzzard of FICO Card Alert Service.
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'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.
"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."
Deputy Defense Secretary William Lynn III cautions that cuts to IT security initiatives, when they come, must be carefully applied, and certain areas must remain exempt from the budget ax, such as cybersecurity.
"Organizations are putting in layers of security and tools to safeguard information and assets, however, the fraudsters are attacking our weakest link, the consumer," says Anthony Vitale of Patelco Credit Union.
UBS's $2 billion loss to rogue trading provides lessons for all banks. What's missing in today's financial institution culture is a balance between profits, ethics and governance, says risk management expert Frances McLeod.
"With a company-issued device, you can issue a policy that says users have no rights of privacy over information on the device," says Javelin's Tom Wills. But with employee-owned devices? A whole new set of issues.
RSA Chief Executive Art Coviello challenged a widespread belief that cybersecurity awareness could curb cyberthreats: "There's no amount of consumer education to make them smart enough to resist attacks. They're just too sophisticated."