"If [employees] aren't being treated right and they don't think leaders at the bank are running the bank correctly, they can rationalize committing fraud," says banking/security expert George Tubin on the risk of insider crimes.
Many disaster-related attacks are personal and direct, perpetrated through a phone call. But some take traditional routes, such as e-mail, while more are taking emerging routes, like text messages to mobile devices.
Executives in a variety of industries who are in charge of securing their enterprises' IT say they're more anxious about outsiders hacking into their systems than insiders - either maliciously or inadvertently - threatening their digital assets, a new survey shows.
A repentant SparkyBlaze wants to go legit, leaving behind the hacktivism he helped foster as a member of Anonymous and start a career in the U.S. as a ethical hacker. As proof, he's offering advice to protect IT from hackers.
As summer draws to a close, banking institutions and their customers face a new wave of targeted phishing attacks - and industry experts predict these incidents will only increase in the months ahead.
Careers in IT security remain hot, says David Foote, noted researcher and analyst of IT workforce trends. But there's a disconnect between current job opportunities and the talent pool looking to fill them.
IT systems operated by governments, hospitals, financial institutions and other businesses averted catastrophe, for the most part, as Hurricane and then Tropical Storm Irene stormed through the Eastern seaboard over the weekend.
Facial recognition technology could prove to be an effective way to authenticate individuals seeking entry to secured buildings or databases storing sensitive information. But the biometric technology already is being abused, and IT security managers employing facial recognition should be careful to encrypt the...
The future worth of payments will not rely so much on tangible currency, but more on digital value and data. And that means a stronger need for security and data management.
The Finnish security provider F-Secure concludes the attack e-mail doesn't look too complicated. In fact, it's very simple. But the exploit inside Excel was a zero-day attack at the time and RSA couldn't have protected against it by patching its systems.
The FDIC says the number of banks on its "Problem List" dropped during the second quarter of 2011, the first quarter-to-quarter decrease since 2006. But the failure respite could be short-lived, if the economy falls back in to recession.
The bright spot is that 36 percent of the takeover incidents reported in 2010 were stopped before fraudulent funds transfers were approved. That's an improvement from 2009, when only 20 percent were thwarted.
Fraud is a global concern, and an area regulators and financial institutions the world-over are watching closely, says Bill Isaac. Whether a cyberthreat or mortgage fraud, investments in fraud prevention will continue, despite the state of the international economy.
Banks and commercial customers are more often working together, enabling them to catch and stop fraudulent requests for funds transfers before commercial accounts are drained.
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