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.
A new, free guide on Facebook security, though geared for users, details the practices chief information security officers and other organizational security practitioners should share with their staffs to assure not only safe Internet hygiene when workers access Facebook from work, but for use with other social media...
As the use of mobile banking grows, banks and credit unions also should take steps to educate their customers and members about safe e-banking practices.
Has our financial system's attention focused so much on cyberthreats that it's forgotten to lock down controls to prevent low-tech schemes? In a nutshell, yes.
International collaboration, steeper convictions for those who are caught and government support for the cyberfight are fueling positive progress in the fight against cybercrime.
Just over a month after Citigroup confirmed a breach of its online banking platform, a second breach affecting Citi customers has come to light, this time in Japan.
Ian Harper of Pentagon Federal Credit Union says financial institutions should continually review their risk management processes, a recommendation reinforced by the new FFIEC Authentication Guidance.
Yahoo's Justin Somaini believes his fellow CISOs in business and government do a good job keeping their bosses informed of proper information security practices, but could do better in educating the rank and file about them.
When economists dissected July's 0.1 point drop in overall unemployment, to 9.1 percent, they attributed the decline mostly to fewer people seeking work. But that's not the case for IT security professionals. There are few discouraged workers in the information technology occupation categories these days.
Looking at the international stock market crash and the impact it's likely to have on future investments in fraud detection and prevention, how much can banks and credit unions reasonably afford, when economic stability is shaky and the financial future uncertain?
What Operation Shady RAT reminds us is not just how vulnerable our IT systems are, but how interconnected we are as a global society, and the fundamental role information technology plays.
"The timing and the targets point to China," says cybersecurity policy expert James Lewis. "Spying right before the Beijing Olympics and focusing on Southeast Asia reflects China's larger interests more than those of any other country."
Organizations taking proper preventative measures realize a cost savings of nearly 25 percent over those that don't, an analysis of a survey sponsored by Hewlett-Packard reveals. Still, the study shows, it takes longer to resolve cyberattacks than it did a year ago.
"It's time to stop shifting the security burden onto retailers and restaurants like Margarita's," says Gartner analyst Avivah Litan on the latest payment card breach. "In fact, it was time for that over five years ago."
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