There was good news and bad news in the reporting of major health information breaches in the past month. The good news: Only four incidents were added to the official federal tally. The bad news: One of those incidents affected 400,000 individuals.
From the exposure of thousands of Citi cardholders to the Michaels debit breach, fraud continues to impact card issuers. Involving the consumer in prevention is a step financial institutions must take, says Javelin's Phil Blank.
You know the tune: Cyber thieves pirated the town's banking credentials, arranged some bogus "payroll transactions" with the town's bank and then next thing you know ... money mules are transferring funds to the Ukraine.
It's not enough for banking institutions to conform to the FFIEC Authentication Guidance update. They also must ensure that their key vendors meet the same standards, says Philip Alexander of Wells Fargo Bank.
A new consumer survey suggests healthcare organizations still have a long way to go in educating patients about the benefits of electronic health records and easing their concerns about security issues.
The U.S. government wants to move many services online, but the inability to authenticate customers and develop Trusted Identities has kept agencies from making the transition. This is a problem that could soon be resolved, says Mike Ozburn, principal of Booz Allen Hamilton.
"These are projects that were already...
Former banking regulator William Henley has simple advice for banking institutions wondering how to comply with the new FFIEC authentication guidance update: "Start immediately, develop a plan, and document your progress."