Termination of an employee after a breach should be reserved for repeat offenders, individuals who show a total disregard for the rules, those who seek to harm another or the most egregious incidents, security expert Mac McMillan contends.
Banks have a critical role to play in helping other industries with DDoS mitigation, as DDoS targets are expected to shift. Attacks against U.S. banks are proving increasingly ineffective because banks have enhanced their defenses.
In the wake of a year of attacks waged against banking institutions by Izz ad-Din al-Qassam Cyber Fighters, the FS-ISAC's Bill Nelson and the ABA's Doug Johnson say the need to regularly update DDoS preparedness is a critical lesson learned.
Ransomware attacks are rising, and a resurgence of the banking Trojan Citadel after an earlier botnet takedown is partly to blame, McAfee Labs research shows. Malware expert Ryan Sherstobitoff analyzes the implications.
Citi's settlement with two states over a breach that exposed 360,000 cards will likely set an example for other states. One expert says banking institutions will likely pay more damages when accounts are compromised.
Fraud is increasing across the board, but attributing losses to certain types of fraud continues to pose challenges for many banking institutions, says Doug Johnson of the American Bankers Association.
Federal indictments tied to global fraud schemes prove law enforcement is cracking down, says former federal prosecutor Kim Peretti. But increasingly these schemes are targeting smaller merchants - a worrisome trend.
A new cross-device malware strain that has been linked to last year's High Roller attacks is defeating dual-factor authentication. Experts explain why banking institutions worldwide should be on alert.