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.
Some organizations hesitate to involve law enforcement in their breach investigations for fear that exposing the hack would cost them their reputations and money. A Justice Department contingent tells a gathering of lawyers why that impression is wrong.
Victimized by a hack of its SecurID authentication token that resulted in the breaches of several customers' IT systems, security maker RSA is expected to announce its first chief security officer as early as Friday.
Strong authentication, using both fact-based and behavioral-based fraud detection solutions, should be part of every financial institution's layered security approach, says Reed Taussig, CEO of ThreatMetrix.
A personalized medicine project leveraging genetic information holds great promise for improving patient treatment but raises certain privacy issues, says Scott Megill, CIO at the Coriell Institute for Medical Research.
Art Coviello, RSA's executive chairman, confirms that information taken from RSA in March had been used as an element of an attempted broader attack discovered late last month on SecurID customer and defense contractor Lockheed Martin.
David Navetta, an attorney who specializes in IT security and privacy, says the magistrate's recommendation, if accepted by the judge, could set an interesting legal precedent about the security banks are expected to provide for commercial customers.
The soon-to-be issued FY 2011 Chief Information Officer FISMA Reporting Metrics from the Department of Homeland Security will require agencies to report on their progress in automating the continuous measurement of the most critical security risks.