"Everyone from the Fed down knew about this and chose to let it go," says mortgage fraud expert L.T. Lafferty. "As a result of that regulatory complacency, the market continues to be plagued with fraudulent activity."
Three Seattle area men have been arrested for their alleged involvement in separate ATM skimming schemes that drained more than half a million dollars from retail customer accounts in at least six states.
Nearly 7.9 million Americans were affected by almost 30,800 health information breaches between September 2009, when a federal healthcare breach notification rule took effect, and the end of 2010, according to a new report to Congress.
"Our proposal would give judges the authority they need to adequately punish serious offenders and to make these penalties commensurate with the same type of conduct occurring offline," Associate Deputy Attorney General James Baker tells Congress.
The Treasury Department's Office of Terrorism and Financial Intelligence has worked to prevent anti-money laundering and illegal cash flow from reaching the hands of terrorist groups, but more needs to be done to further mitigate risks, says Treasury Assistant Secretary Daniel L. Glaser.
News that two Seattle residents were sentenced last week in a prescription fraud case offers yet another eye-opening reminder of the need to guard against fraudulent activity by staff members at hospitals and clinics.
The Office of the National Coordinator for Health Information Technology has formally launched Query Health, a project to test standards for querying data from electronic health records to conduct research.
Providing HIPAA compliance auditors with complete documentation of every aspect of your privacy and security strategy, along with evidence of corrective action taken to mitigate risks, is essential, says consultant Cliff Baker.
A new social-media-management tool provided by the ICBA aims to help community banks monitor social media communications, streamlining posts and comments that appear about banks on and through a number of channels.
"What banks need to be aware of is that much of this fraud is occurring on the consumer and business-customer side, and not all of them will invest in technology that catches these attacks," says Phil Blank of Javelin Strategy & Research.
New York State Office of Cybersecurity Director Tom Smith says an information asset classification policy implemented by his office is helping agencies identify their critical data and apply appropriate controls to protect it.