The World Bank, an internationally-supported institution that provides loans to developing countries, is reported to have suffered a network intrusion that one insider labeled "an unprecedented crisis."
The breach, first reported by Fox News, alleges that servers in the Washington, D.C.-based bank's treasury unit...
OK, with less than two weeks to go, banking regulatory agencies are getting busy. Busier, I should say.
Last week saw both the OCC and FDIC release their approaches to the Identity Theft Red Flags Rule examination procedures.
No huge surprises here. But what's interesting is when you review the somewhat...
Despite economic setbacks this year, data security remains top-of-mind for the majority of community bankers.
Results from the 2008 Independent Community Bankers of America's (ICBA) Community Bank Technology Survey reveal that more than 80 percent of respondents are "vigorously maintaining data security" as their top...
It's time to get real.
As we tackle this wild economy, which has deflated the market, toppled institutions, written history ... it's time to hear from real people to gain real insights on the events that are reshaping reality for us all.
Consider this my open call, then. Banking leaders: I'd like to speak to you...
Insights on the Federal Rescue Plan - an Interview with Guillermo Kopp of TowerGroup
Tuesday's news was mainly about Wall Street, with the U.S. government pledging to invest up to $125 billion in nine of the nation's largest banks.
But Main Street banking institutions and their customers will be the ultimate...
I've heard many, many comments, analyses, opinions and otherwise regarding the current economic condition of the United States. I've heard that we should blame sub-prime mortgages. I've heard greedy CEOs are to blame. I've even heard that if we (the United States) had universal healthcare, we wouldn't be in this...
In discussing our current banking crisis with a colleague earlier this week, I was surprised by the level of cynicism he displayed towards the regulatory agencies and their efforts to govern the institutions they oversee. He's a practitioner like me, and I'd always thought of him as being of an equal mind on such...
The Payment Card Industry (PCI) has released its newest version of its data security standards (PCI-DSS). The version is designed to help protect transmitted charge and debit card information, and spells out a comprehensive vulnerability management program.
While not a banking regulatory standard, PCI was...
Howard Schmidt, a recognized information security thought leader, offers exclusive insights as new president of the Information Security Forum.
Schmidt, a household name in information security circles since his days as CISO and information security leader at Microsoft and eBay, discusses the global war against...
This time the news was so big it couldn't even wait til Friday.
Up to this point, as you know, whenever the FDIC has closed a bank this year, it's waited til after markets have closed for the week - let things settle over the weekend, and then the failed bank can reopen under its new flag on Monday.
But...
Leading Technology Vendor Discusses the Need for Vulnerability Assessments & Remediation Processes for Applications Whether Developed In-House or By a Third-Party
Application security is a key focus of regulatory agencies - ensuring that financial institutions pay as much attention to third-party applications as...
I was presenting at a credit union conference this week, where the session before mine covered current economic conditions. The timing was perfect in a macabre sort of way, as the 24 hours prior were filled with news about the Merrill Lynch rescue and Lehman Brothers collapse. As part of the Q&A phase, a prediction...
You know someone. Out of millions of Merrill Lynch customers, you should know at least one. Combine Bank of America's many more millions of banking customers, and you have to know someone. I know quite a few myself. All of these people are waiting to be absorbed into what is ultimately a new regime. This state of...
I can't say enough about the mud slinging and finger pointing being done during the continuing mortgage crisis. It is getting ugly out there. Even the government-sponsored enterprises Fannie Mae and Freddie Mac are now under the watchful conservatorship eye of the federal regulators, as the mortgage foreclosures top...
A recent Comptroller of the Currency (OCC) guidance emphasizes the need for stronger application security within financial institutions and their third-party service providers to maintain integrity of data, mitigate true risks and avoid being prime targets for criminal activities. We queried two information security...
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