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.
Quantifying the safety or danger of cyberspace is tough. But a highly respected IT security practitioner and an experienced risk management consultant have teamed to develop an index they contend reflects the relative security of cyberspace by aggregating the views of information security industry professionals.
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.
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.
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?
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.
Card-issuing banks struggle to find the balance between consumer satisfaction and protection. And in the wake of the Michaels breach, the financial industry knows it has to make a change. One industry expert says stronger card authentication is the answer, and he favors chip-based or EMV-like solutions.
"Ethical hacking" - is the term an oxymoron, or is it one of today's necessities in the fight against cybercrime? Jay Bavisi, president and co-founder of the EC Council, feels strongly about why we need ethical hackers more today than ever before.
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.