tagged w/ Sarbanes-Oxley
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Social banking won’t change the consumer banking model immediately, says Gartner, although retail banks that understand social media, financial social networks and microfinance have a better chance of adapting their services.Social banking won’t change the consumer banking model immediately, says... more
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Some of the biggest banks in the U.S. and London are already preparing for the possibility of a swine flu pandemic, with one acknowledging it is “dusting off playbooks” from the outbreaks of avian flu in 2003, as analysts try to predict the potential impact on the global markets, according to Dow Jones Financial News.Some of the biggest banks in the U.S. and London are already preparing for the... more
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The head of America’s National Security Agency says that America needs to build a digital warfare force for the future, according to reports. Lt Gen Keith Alexander, who also heads the Pentagon’s new Cyber Command, outlined his views in a report for the House Armed Services subcommittee.The head of America’s National Security Agency says that America needs to build... more
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This is the second major extortion attack related to the theft of health care data in the past year. In October 2008, Express Scripts, one of the nation’s largest processors of pharmacy prescriptions, disclosed that extortionists were threatening to disclose personal and medical information on millions of Americans if the company failed to meet payment demands. Express Scripts is currently offering a $1 million reward for information leading to the arrest and conviction of the individual(s) responsible for trying to extort money from the company.This is the second major extortion attack related to the theft of health care data in... more
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When the economy faltered last year, fear took over and made the recession deeper than it might have otherwise become. Bankers panicked and credit froze, making it nearly impossible for people to buy things and for companies to meet payroll. Before the Great Depression, during the Spanish Flu Pandemic of 1918-19, fear caused the government to downplay what was happening. The result was more panic and more death because citizens lacked advice that could have been helpful.When the economy faltered last year, fear took over and made the recession deeper than... more
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“I am writing to inform you that sensitive, personally identifiable information about you may have been viewed by a few individuals who should not have access to such information,” said the letter mailed Friday to people whose information is in LexisNexis databases.“I am writing to inform you that sensitive, personally identifiable information... more
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A laptop computer containing the personal information of about 225,000 Oklahomans was stolen from a city home last week. Oklahoma Housing Finance Agency officials said Wednesday that the names, Social Security numbers, tax identification numbers, birth dates and addresses of clients of the Section 8 Housing Voucher Program were on an employee’s laptop that was stolen in an April 22 burglary.A laptop computer containing the personal information of about 225,000 Oklahomans was... more
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Asked about the biggest threats, 48 percent of federal CISOs identified outsider threats as their main concern, apparently contrasting with some cybersecurity companies that say insider threats are the biggest problem of many companies. Just 26 percent of government CISOs identified insider threats as their biggest threat, and another 26 percent said vulnerable software was the biggest problem.Asked about the biggest threats, 48 percent of federal CISOs identified outsider... more
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Heartland’s removal from the list of compliant payment processors had followed revelations that the company had suffered what may have been the largest data breach of payment card information to date, although details of the incident and similar events at RBS WorldPay (RBS) have not been made available due to ongoing investigations.Heartland’s removal from the list of compliant payment processors had followed... more
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“When there are so few privacy protections for secondary use of personal information, that information can be used in many troubling ways,” he writes in an e-mail to the ABA Journal. “A class assignment that illustrates this point is not one of them. Indeed, the very fact that Justice Scalia found it objectionable and felt compelled to comment underscores the value and legitimacy of the exercise.”“When there are so few privacy protections for secondary use of personal... more
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As the dreaded word “pandemic” tops this week’s headlines about the swine flu virus spreading around the globe, many businesses are dusting off emergency plans for employees to work from home and schools are poised to send students home. If this turns out to be a full-fledged pandemic, not only will people fall ill, the Internet will too.As the dreaded word “pandemic” tops this week’s headlines about the... more
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Several panelists said one of the problems with U.S. cybersecurity is that defensive and offensive activities have been separated. The people in charge of defense do not fully understand attacks, and the people who understand offense should be involved with designing defensive requirements.Several panelists said one of the problems with U.S. cybersecurity is that defensive... more
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One expert has advised consumers and web users to be extra vigilant as tough economic times could lead to some people committing acts of cyber crime.One expert has advised consumers and web users to be extra vigilant as tough economic... more
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“Business continuity and disaster recovery are crucial parts of sound corporate governance - for industries like the financial sector and the nation’s critical infrastructure, they are mandates. Organizations that fail to plan and prepare for events like public health emergencies, natural disasters, and man-made disruptions face loss of business, and potential corporate exposure if they fail in these obligations. It is time to get serious about earlier and better handling of risk issues.”“Business continuity and disaster recovery are crucial parts of sound corporate... more
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Despite numerous lukewarm reviews of the 2009 RSA Security Conference by attendees and reporters, the Internet Security Alliance’s President Larry Clinton recognized that the keynote address to the collective conference body by Melissa E. Hathaway, Acting Senior Director for Cyberspace for the National Security and Homeland Security Councils, offers affirmation of the mission and principles on which the Internet Security Alliance (ISAlliance) was founded.Despite numerous lukewarm reviews of the 2009 RSA Security Conference by attendees and... more
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The study predicts significant consolidation in segments wrought with over-capacity - such as investment banking, asset management, and wealth management - as firms adapt to a new lower-margin landscape where they will need to specialise around services that clients value rather than continuing to provide a full range of in-house services. Enhanced regulation and transparency will also eliminate opacity, with previously high-margin activities becoming commoditised.The study predicts significant consolidation in segments wrought with over-capacity -... more
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DNS based attacks can be devastating because they undermine everything we take for granted about Web browsing. Late last year, attackers hijacked the DNS records of Checkfree.com, the largest online bill-paying service, redirecting would-be visitors to a site in Ukraine that served up malicious software.DNS based attacks can be devastating because they undermine everything we take for... more
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“This has led to the successful execution of complex attack strategies previously thought to be only theoretically possible,” the report’s authors said. “As a result, our 2008 caseload is reflective of these trends and includes more targeted, cutting edge, complex, and clever cybercrime attacks than seen in previous years.”“This has led to the successful execution of complex attack strategies... more
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The malware spreads when victims visit compromised websites. Then hackers can remotely control the malware to execute almost any command on the end-user computer as they see fit, such as: reading emails, copying files, recording keystrokes, sending spam, making screenshots, Finjan claims. “The sophistication of the malware and the staggering amount of infected computers proves that cybergangs are raising the bar.”The malware spreads when victims visit compromised websites. Then hackers can remotely... more
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“Criminals are very adept at finding the vulnerable workers who can be tempted into betraying their employers, therefore, organisations should ensure that they have trained their people to protect sensitive information and have adequate technology and processes in place to help them enforce security policies that comply with current regulation and legislation,” said Tamar Beck, group event director, Infosecurity Europe.“Criminals are very adept at finding the vulnerable workers who can be tempted... more
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