Two critical steps that banking institutions need to take in 2014 to help prevent fraud are implementing big data analytics and adopting far more sophisticated customer and employee authentication, says Gartner analyst Avivah Litan.
In a groundbreaking effort to boost security, HSBC Bank USA is now requiring its retail banking customers to use dual-factor authentication for certain sensitive online banking transactions, says LuAnne Kingston, senior vice president.
Lawsuits that card issuers have filed against Target to help recoup expenses associated with the retailer's breach aren't likely to reap big rewards, two legal experts say. But they are sending a strong message.
A law firm has developed a free iPhone app, Data Breach 411, to help organizations with breach notification compliance. The app provides links to 46 state data breach notification laws, relevant federal statutes and other resources.
Website security firm CloudFlare is warning organizations worldwide to be on the lookout for an increase in larger DDoS attacks. But these NTP attacks are far less sophisticated than the earlier DDoS attacks that targeted U.S. banks.
The RSA Conference 2014 will be held Feb. 24-28 in San Francisco, and Information Security Media Group will be the only Diamond Media Sponsor. Learn what's on the agenda at this world-class security event.
Expenses linked to the data breach at Target Corp. have already cost the 58 member institutions of the Consumer Bankers Association more than $170 million - a price they should not have to pay, says the association's David Pommerehn.
Organizations in all sectors can improve their compliance with the PCI Data Security Standard by taking five critical steps, says Rodolphe Simonetti of Verizon Enterprise Solutions, which just issued a new PCI compliance report.