Lessons learned from TJX and previous data breaches to improve data protection
Outline data protection regulations financial institutions face
What regulators expect financial institutions to have in place for data protection
Best practices in data protection from a regulator, banker and processor
One of the recommendations from the President’s Identity Theft Task Force: Decrease the unnecessary use of social security numbers in the public sector by developing alternative strategies for identity management.
Deborah Platt Majoras, Chairman of the Federal Trade Commission and co-chair of the Identity...
The release of the President's Identity Theft Task Force report on April 23 with its 31 recommendations has implications for financial institutions.
While the report also focuses on increased law enforcement crackdowns on identity theft and the prosecution of the criminals who perpetrate this crime, the need for...
The best offense is a good defense, is the adage. For financial institutions part of the defense to protect your customers from becoming victims of identity theft is educating them.
When identity theft occurs, 9 times out of 10 the source of where the person’s identity was taken is never fully found. Trust and money are the two things financial institutions have as their products. Once a customer loses trust in your institution’s ability to protect their personal financial...
When it comes to compliance with the FDIC’s recent Supervisory Letter on Identity Theft, financial institutions need to “beef up†their consumer education programs, along with looking more closely at their existing risk assessment programs to mitigate current and potential areas of vulnerabilities.
Identity theft can strike anyone. Unfortunately, even BankInfoSecurity.com’s staff have been past victims of identity theft. Luckily, the two stories have been resolved. Read on to hear first-hand, the pain of identity theft, and what lengths victims have to take to resolve the crime and restore their identity....
On the heels of a recently released supervisory letter from the FDIC on Identity Theft comes the strategic plan from the President’s Identity Task Force, released on April 23. Less than 190 pages are contained in the main and supplemental report, but the plans are clearly drawn and tasks for each industry are...
A recent survey of banking executives showed the overwhelming majority plan to increase spending on automated Anti-Money Laundering (AML) transaction monitoring and on staff to help strengthen their compliance programs.
Darren Donovan, head of KPMG’s Forensic Services said the survey, administered by KPMG...
As an active job seeker you may post your resume in several job boards providing personal contact information including your social security number and more... speak with innumerable recruiters discussing potential job opportunities revealing more information about yourself. Chances are you don't give this everyday...
The revelation by TJX Companies, owner of T.J. Maxx and other retail brands, that at least 45.7 million credit and debit cards were compromised over several years highlights anew the risks associated with processing card transactions and the need to protect the information they contain.
The banking industry is one of the most highly regulated and closely supervised among those handling sensitive consumer information. Besides being subject to security breach disclosure laws at the state and federal levels, it must comply with industry-specific laws and regulations related to information security and...
For those financial institutions that have been putting off the education of their customers, it’s now time to sit up, take notice, and begin to take action. The FDIC’s issuance of a supervisory policy on identity theft on Wednesday means that all banks and financial institutions will be expected to take a...
In this webinar, you will be privy to the following topics of discussion:
Describe malware, crimeware intrusions and how they relate to phishing;
Overview of current attacks and help to anticipate likely trends;
Describe different ways clients are attacked, understanding of proactive defenses;
Describe...
The Gramm Leach Bliley Act may not appear to have anything to link it to the Voice Over IP technology being implemented in financial institutions, but IT departments and Information Security officers should look closely at how the new phone systems may be audited under GLBA regulations. GLBA audits would focus more on...
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