This $38 billion bank has invested a great deal of time and effort into its online security program, continuously conducting risk assessments and making strides to ensure commercial customers stay informed about evolving online-banking risks.
The FDIC is yet again a target for phishing, with fraudulent e-mails urging business owners to click malicious links purporting to provide FDIC information about their financial institution.
Phishing e-mails, feigning to be from the Internal Revenue Service, are reportedly targeting consumers with claims that tax accounts have been locked and require immediate action to reopen.
A hospital CIO calls for studies of how best to match patients to their records, citing the issue as critical to the success of health information exchanges.
International collaboration, steeper convictions for those who are caught and government support for the cyberfight are fueling positive progress in the fight against cybercrime.
When it comes to social media, organizations have to be vigilant and consistent with risk assessments that closely monitor and evaluate emerging threats, says Andrew Kennedy of BITS.
"We're continually testing our controls and the effectiveness of our controls. We do a lot of emerging-threats monitoring ... so we can react," says First Niagara's Joe Rogalski.
A California judge handed down a 12-year prison sentence to a phisher who stole financial details from more than 38,000 online accountholders. Observers say the sentence signals a changing attitude about the severity of cybercrimes.
Corporate account takeover events are reigniting the debate between banks and their former commercial customers, about everything from fraud liability and the "good faith" standard to commercially reasonable security.
With such high demand for security professionals, employers must be wary of the prospects they consider. People are known to inflate their resumes and claim knowledge they don't have.
Emerging technology is often touted for enhancing security. But if not properly deployed and integrated, these technologies can hinder rather than improve security.
"The FFIEC guidance does a good job of addressing today's and yesterday's threats and suggested techniques, but it is not sufficiently forward-looking," says Gartner's Avivah Litan. "Two years from now, the guidance will be sorely out of date."
The Federal Financial Institutions Examination Council has formally released the long-awaited update to its "Authentication in an Internet Banking Environment" guidance. The new directives take effect January 2012.
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