Debit fraud and skimming are growing problems, and they're why California-based Fremont Bank is switching from mag-stripe to chip-based debit cards, says Chris Olson, the bank's chief operating and enterprise risk officer.
"Too often this focus on security has been used as an excuse to prevent the government from adopting the sort of innovative technologies that could better serve and engage the American people," Vivek Kundra says. "What's true is the inverse."
A months-long investigation led Australian investigators to more than 50 stolen POS terminals, dozens of card skimmers and more than 18,000 blank and counterfeit cards. So far, 25 people have been arrested and charged for their parts in the alleged scheme.
A federal proposal to require healthcare organizations to provide patients with access reports listing everyone who has electronically viewed their information is impractical, says Dan Rode of the American Health Information Management Association.
Adoption of chip technology will not only help the U.S. payments infrastructure prepare for expected acceleration in mobile-based payments, Visa says, but will improve transaction security by providing dynamic authentication.
Oregon state agencies are coming together to develop a centralized plan, ending a previously siloed approach, to simplify compliance with Internal Revenue Service rules to safeguard taxpayer data, says state CISO Theresa Masse.
With the extension of ENISA's mandate into 2013 by the European Parliament & Council, the agency can continue to educate and collaborate with other nations on cybersecurity issues, an area of constant importance.
Though IT business application functions and security-focused practices are expected to be integrated as a single process, secure configuration is the management and control of configurations for information systems to enable security and facilitate the management of information security risk.
With the release of the new FFIEC Authentication Guidance, the need for effective strategies to mitigate known online risks has never been greater for banking institutions. Effective authentication methods also ensure institutions conform to new risk management and assessment requirements.
"If left unaddressed," GAO says, "these issues will continue to increase FDIC's risk that its sensitive and financial information will be subject to unauthorized disclosure, modification or destruction."
According to FINRA, Citi's negligence in adequately supervising Tamara Moon, a former sales assistant at a Citi branch in Palo Alto, Calif., resulted in $749,978 being skimmed from the accounts of 22 Citi customers.