As emerging technologies such as cloud computing and mobile banking become the norm, the FDIC's Donald Saxinger says vendor management programs must specifically address the outside risks posed by working with non-traditional financial services providers.
House Cybersecurity Caucus Co-Founder Jim Langevin, D-R.I., says President Obama's cybersecurity legislative package is a step in the right direction, but lacks the stricter regulation needed for businesses that run critical IT infrastructures.
The recent Sony and Epsilon breaches sent a strong reminder that companies lack transparency and aren't prepared to respond to a breach once it occurs, says Kirk Herath, Chief Privacy Officer at Nationwide Insurance Companies.
Many organizations are unprepared to adequately respond to a breach, security expert Bob Chaput says. "Breach notification planning is just a fundamental, basic part of risk management in the new millennium," he adds.
Federal authorities have issued a detailed notice of proposed rulemaking that sets out guidelines for how patients must be provided with an accounting of who has viewed their protected health information.