"It's not enough to know the architecture of the breach system," says Michael Aisenberg of MITRE Corp. "Leaders have to understand the different jurisdiction of where they do business, where their customers are and which breach law applies."
Building on existing contactless NFC technology could bridge the gap between the mag-stripe and chip and PIN. And the Smart Card Alliance says merchants should begin investing in infrastructure upgrades now.
Security experts at this week's Gartner Security and Risk Management Summit agree: Security, not compliance, has to be the new focus. Cyberintrusions cannot be stopped, and the RSA breach should be a lesson to the industry.
The FDIC's Donald Saxinger says vendor management programs are getting more scrutiny from regulators, especially in areas of emerging technology, such as cloud computing and mobile banking.
In the wake of the recent debit card breaches in Ohio, impacted banks and credit unions have begun outreach to customers. Meanwhile, investigators still seek the source of the incident.
The new orders, signed a month ago by President Obama, detail when the military must seek presidential approval for a specific cyberassault on an enemy and weave cyber capabilities into U.S. war fighting strategy, the AP reports.
Sen. Robert Menendez says regulators should have the power to compel banks to toughen IT security and offer timely customer notification of a breach. But if they don't, the Banking Committee member says in an interview, they should come to Congress to get that authority.
A breach of debit card accounts, which began in April, has so far affected nearly two dozen banks and credit unions in the Northeast Ohio area, including Keybank, Fifth Third and Century Federal Credit union.
The arrest followed an investigation into network intrusions and distributed denial of service attacks against a number of international business and intelligence agencies by what is believed to be the same hacking group.
Northrop Grumman Cybersecurity Research Consortium's Robert Brammer says IT security researchers should think like Wayne Gretzky, the National Hockey League hall of famer: Skate to where the puck will be.
Online and mobile banking are taking the world by storm - especially in the Asia-Pacific region. But many institutions are simply not prepared to manage security and privacy appropriately in these venues, says Gartner's Matthew Cheung.
Facebook's facial recognition feature clearly impacts the privacy profession and workplace by creating new challenges and raising significant concerns on the issue of trust.
As the Sony and Epsilon breaches show, privacy is now in the news media every day. And organizations need to be prepared to address the issue, says Trevor Hughes, executive director of the International Association of Privacy Professionals.
Card-skimming trends continue to pose a threat to financial institutions and retail outlets, but there are steps organizations can take to fight back, says John Pearce, director of financial services for ADT Security Services.
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