Breaches will not slow anytime soon, and there's not much financial institutions and the payments chain can do to stop them. At this point, the best course of action for banks and retailers is to focus on damage control.
When a database breach occurs, consumer notification continues to be a public problem. And it's time for the federal government to step in, says Linda Foley, co-founder of the non-profit Identity Theft Resource Center.
Citigroup confirms that a breach of its online banking platform, Citi Account Online, may have exposed personally identifiable information about hundreds of thousands of Citi customers.
Victimized by a hack of its SecurID authentication token that resulted in the breaches of several customers' IT systems, security maker RSA is expected to announce its first chief security officer as early as Friday.
Art Coviello, RSA's executive chairman, confirms that information taken from RSA in March had been used as an element of an attempted broader attack discovered late last month on SecurID customer and defense contractor Lockheed Martin.
Revelations that Google's Gmail and Sony Pictures were both targeted by hackers highlights growing concerns about cybersecurity and the sophistication - and frequency - of attacks, as well as how to keep the public informed about such incidents.
It's clear that major data breaches have become not just a topic of mainstream news, but they're occurring with such frequency and potential devastation that they're almost deserving of a 24-hour news desk.
"Just securing the data is no longer enough," says Trevor Hughes, head of the International Association of Privacy Professionals. 'Privacy professionals, in addition, need to prepare for what happens when things go wrong."
Google alleges that Chinese hackers attacked the Gmail accounts of several hundred U.S. officials, including military personnel, in an effort to obtain passwords and monitor the accounts.
The House Subcommittee on Commerce, Manufacturing and Trade heard from Sony and Epsilon about breaches that adversely affected consumer information. Both companies support a national data security and breach notification law.
Organizations looking to improve their privacy management in the event of a breach "have to continually plan and prepare," says Nationwide's Chief Privacy Officer Kirk Herath. That means putting into writing a comprehensive plan.
Lockheed Martin, the country's largest military contractor, is investigating the root of a "significant and tenacious" attack against its information network. Could this attack be linked to the RSA SecurID hack earlier this year?
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