The California Supreme Court has ruled that a key provision of a tough state medical privacy law is not preempted by federal regulations. The evolving case, which eventually could wind up before the U.S. Supreme Court or grow into a class action case at the state level, is worth watching.
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.
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.
Two stories stand out when I look back on the month of May: the POS PIN pad swap scheme that hit Michaels crafts stores in more than 20 states and the insider job at Bank of America that led to $10 million being stolen from some 300 customer accounts.
An inside breach at BofA that led to more than 300 compromised accounts signifies growing concerns about internal threats. But experts say organizations can implement strategies to detect - and in some cases even predict - internal fraud.
A silver lining is emerging behind the rash of breaches that occur all too regularly. The fact that these breaches make the public more aware of the vulnerabilities is encouraging in efforts to make the Internet safer for all.
The U.S. Supreme Court heard arguments Tuesday in a healthcare privacy case dealing with the power of states to bar data mining companies from selling information about doctors' prescription-writing habits to drug companies.
Key questions: What impact - if any - will the recent RSA and Epsilon data breaches have on the FFIEC's pending authentication update? And when will this long-awaited banking guidance finally be released?