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.
As emerging technologies such as cloud computing and mobile banking become the norm, the FDIC's Donald Saxinger says vendor management programs must specifically address the outside risks posed by working with non-traditional financial services providers.
The National Strategy for Trusted Identities in Cyberspace (NSTIC), a government-private sector initiative, could enhance efficiency, security and privacy in all the transactions done online every day, says NIST's Jeremy Grant.
Lockheed Martin, the country's largest military contractor, is investigating the root of a "significant and tenacious" attack against its information network. Could this attack be linked to the RSA SecurID hack earlier this year?
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.
The same approach governments and businesses employ to protect individuals from the dangers of secondhand smoke could be applied to safeguard cyberspace, says Scott Charney, Microsoft's vice president of trustworthy computing, engineering excellence and environmental sustainability.
House Cybersecurity Caucus Co-Founder Jim Langevin, D-R.I., says President Obama's cybersecurity legislative package is a step in the right direction, but lacks the stricter regulation needed for businesses that run critical IT infrastructures.
Many organizations are unprepared to adequately respond to a breach, security expert Bob Chaput says. "Breach notification planning is just a fundamental, basic part of risk management in the new millennium," he adds.