We're barely out of January, and already this year has revealed itself as one to remember. Between the worsening conditions within the banking sector, the Heartland breach and a very noticeable shift in the regulatory climate, we're already hard pressed to pick this year's "Story of the Year." And somehow I suspect...
The Heartland Payment Systems data breach - it's the first major security incident of 2009. But how big is it really? What are the key takeaways for banking institutions left explaining this breach to their customers?
In an exclusive interview, James Van Dyke, Founder and President of Javelin Strategy & Research,...
So, we were among the first to break the Heartland story when it first broke last Tuesday, and we've continued to follow it closely. After the initial media surge, where we saw news outlets and solutions providers tripping over one another to opine over what they think happened to Heartland and what it all means, here...
When it comes to regulatory compliance and its intended purpose, I'm a believer. I genuinely believe that if a bank or credit union implements and supports all required controls essential to achieving compliance, they're the better for it, and their account holders can sleep better at night. What you might've missed...
Last week the NCUA announced the formation of the National Examination Team (NET) to "enhance the supervisory process in areas where economic conditions have adversely impacted federally insured credit unions." Or as I like to think of this move, the FDIC sneezes, and NCUA catches a cold.
It was only a question of time before one of the regulators stepped forward to tell its banking institutions to monitor the use of their federal funds. The FDIC this week drew its own line in the sand when it comes to monitoring how the bailout money will be accounted for at its banks.
An alleged bank robber gets away with nothing, and he's in jail awaiting trial. Not that I'd argue otherwise. Meanwhile, Madoff defrauds investors of billions, quite literally ruins businesses and lives ... and he hasn't even lost access to his premium movie channels.
As banking regulators emphasize the necessity of application security, a broad-based consortium now sheds new light on the most common vulnerabilities.
Experts from more than 30 U.S. and international cyber security organizations, including the National Security Agency and the Department of Homeland Security's...
Reported data breaches increased by nearly half in 2008, and 12 percent of the total hacks were at financial institutions - up from 7 percent in 2007.
This is the news from the Identity Theft Resource Center's (ITRC) 2008 breach report, which shows that 2008's 656 reported breaches were up 47 percent over 2007's...
Stupid robbery attempts are always funny, but when they happen in your backyard, well, they're even funnier.
A few weeks back, near my home in New Hampshire, a would-be robber held up a local Citizens Bank branch, and he attempted to get away with an undisclosed amount of cash.
Looking ahead to 2009, banking/security guru Steve Katz quotes the ancient proverb: "May you live in interesting times."
With a new administration, new banking landscape and regulatory changes expected, we live in interesting times, indeed.
Sitting down at your desk wondering how you're going to get your info sec budget through the next finance meeting unscathed and still manage to meet all of your department's regulatory requirements? Well, I can assure you, you're not alone.
Say the words $50 billion. Sort of rolls off your tongue. I'd be really upset if my family, firm or investment company had invested money with Bernard Madoff's alleged Ponzi scheme. It is shaping up to be one of the biggest investment frauds ever.
The FDIC announced details regarding their recently approved 2009 operating budget. Not exactly your "stop the presses, hold all my calls" sort of thing, but it was worth my time to read through it.
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