One way to ensure greater protection for consumers and their personal information following massive data breaches is to give the U.S. Federal Trade Commission the ability to impose greater civil penalties against consumer reporting agencies, such as Equifax, a new government report concludes.
Will the advent of faster payments in the U.S. open new doors for fraud? Business continuity and security are priorities for the Federal Reserve, says Marianne Crowe of the Boston Fed. But independent consultant Richard Party begs the question: Is the U.S. really ready?
The Petya ransomware gang says it released 3,500 crypto keys that it stole - along with source code - from rival Chimera ransomware developers. If the keys are legitimate, security firms say they can build decryption tools for Chimera victims.
As Democrats gather in Philadelphia to nominate Hillary Clinton for president, it's a good time to examine the former secretary of state's positions on cybersecurity and online privacy. Here's where she stands.
Interbank messaging service SWIFT will begin collecting and sharing anonymized attack information and offering incident-response services - backed by Fox-IT and BAE Systems - to help hacked banks. But will financial institutions buy in?
After the complete collapse of network security at Sony Pictures - in the wake of its data breach - it's important that we highlight some of the organization's fundamental security mistakes. Here's a macro view of the lessons we must all learn.
South Carolina's Revenue Department went nearly a year without a chief information security officer before its tax system was hacked this summer. The agency's chief says the state couldn't find a qualified candidate for the job that pays $100,000 a year.
The recent Sony and Epsilon breaches sent a strong reminder that companies lack transparency and aren't prepared to respond to a breach once it occurs, says Kirk Herath, Chief Privacy Officer at Nationwide Insurance Companies.
Wire fraud incidents from China prove current security measures, including multifactor authentication, are too easy to bypass. And security pundits say it all points back to why the financial industry needs more guidance about adequate online security.
Regulatory compliance is the backbone of a financial institution's information security program. But compliance alone isn't enough, says John Pironti of ISACA's Education Board, who advises institutions to take a risk-based, not a "checklist-based" approach to security.
Bank mergers and failures. Market fluctuations. Looming layoffs. The new administration and the changes it will bring to financial services regulation.
There is much in the news these days for financial institutions - and their customers - to consider. But at a time when consumer confidence in banking is at a...