Bank of America's Keith Gordon says securing the mobile channel is much like securing any other banking channel: Controlling risks requires layers of security and controls. But educating customers plays a key security function, too.
Documenting procedures for the State Department's custom-made, continuous-monitoring tool known as iPost will help ensure that the data collected are appropriately used to protect the agency's global IT system, a GAO audit says.
"The first step is for banks to admit there is a problem before they can address it, and many bankers are still in denial," says Shirley Inscoe, author of the book "Insidious: How Trusted Employees Steal Millions and Why It's So Hard for Banks to Stop Them."
As recent incidents at Citi and BofA reinforce, most banking institutions, from large to small, have done a poor job of keeping up with inside jobs and internal threats.
The down economy pressures organizations to reduce operational expenses and discard many capital-intensive IT and security projects. What gets left behind often is a skeletal staff dealing with very basic day-to-day IT functions, with no time or resources to dedicate toward compliance, audit and core security...
Federal banking regulators have just released new risk management guidance on remote deposit capture. This FFIEC guidance is to be used by examiners, financial institutions and technology service providers to identify risks, evaluate controls and assess risk management practices related to remote deposit capture (RDC)...
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