Despite previously announced plans to appeal last month's ruling in the ACH fraud lawsuit filed by Experi-Metal Inc., Comerica Bank now says it has resolved to pay the $560,000 in damages and close the case.
Corporate account takeover events are reigniting the debate between banks and their former commercial customers, about everything from fraud liability and the "good faith" standard to commercially reasonable security.
With the issuance of the final FFIEC Authentication Guidance, institutions need to start moving forward on conformance, and taking a risk-focused approach is the first step, says Matthew Speare, SVP of IT for M&T Bank Corp.
Two electronic health records pioneers that already have earned federal EHR incentive payments stress that a robust risk management program should be an essential component of any movement from paper to electronic records.
It's the new conventional wisdom: all computer networks will be attacked.
For Phyllis Schneck, that means organizations must be resilient, keeping computers functioning even when they're under assault.
On June 28, the FFIEC released its final, formal version of its Authentication Guidance. Not even one month later, we've created three new training programs to help banking institutions understand and conform with the guidance.
In a merger, it's important for both organizations to have strong communication and data protection processes in place, says Phil Romero, senior security architect of First Technology Federal Credit Union. His institution just led a $4.75 billion merger.
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.
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."