"The first step is for banks to admit there is a problem before they can address it, and many bankers are still in denial," says Shirley Inscoe, author of the book "Insidious: How Trusted Employees Steal Millions and Why It's So Hard for Banks to Stop Them."
Former banking regulator William Henley has simple advice for banking institutions wondering how to comply with the new FFIEC authentication guidance update: "Start immediately, develop a plan, and document your progress."
Social media, mobility and cloud computing are new areas of risk for organizations, and risk managers need to go back to the fundamentals of understanding the information they are protecting, says Robert Stroud, ISACA's international vice president.
A Georgia hospital has informed 7,500 patients that they may have been affected by a breach incident involving the theft of personal information that could have been used to commit federal income tax fraud.
The move of paper-based transactional services online doesn't create just cost savings and efficiencies. E-Gov creates a "Trust Dividend," thanks to the use of trustable online identities - issued by private enterprise, and relied upon by government. Making this switch now will help your agency achieve the benefits of...
Now that the FFIEC's updated online authentication guidance is out, banking institutions need to move forward in preparation for 2012 compliance, says Julie McNelley, banking fraud analyst for Aite Group.
The Government Accountability Office has issued a report chastising the Centers for Medicare and Medicaid Services for delays in fully implementing its Integrated Data Repository used to crack down on fraud.
"Our role is changing in the fact that we see fraud being perpetrated in a new manner everyday via malicious software, banking Trojans and online theft," says Jean-FranÃ§ois Legault, senior manager of forensics and dispute services at Deloitte.
Despite the latest $200,000 fraud spree in Florida, industry experts say pay-at-the-pump skimming incidents still account for a relatively low percentage of card compromises. ATMs remain the No. 1 target.