A nurse who formerly worked at several Denver-area hospitals has been arrested on 90 felony charges of identity theft and theft of medical records, the Adams County District Attorney's office confirms.
Organizations are starting to adapt to cloud computing, but they're hesitant about placing their core assets in the online environment, according to results from the 2011 ISACA IT Risk/Reward Barometer.
No one is really sure when the FFIEC's new authentication guidance will be issued, but we do know banking institutions can't afford to wait. Hence, our new FFIEC Authentication Guidance Resource Center.
The three most common findings during an IT security examination are vendor management issues, a need for improved wire transfer controls, and necessary updates to risk assessments, says Phillip Hinkle, Chief IT Security Examiner for the Texas Department of Banking.
Danish pharmaceutical company Novo Nordisk Inc. has agreed to a $1.725 million civil settlement agreement to resolve allegations that the company accessed and misused private patient information and filed false or fraudulent Medicaid claims.
"This is yet another [incident] in what is turning into a major 'breach streak,' which will make all of us rethink what information security really means," says Mike Urban, senior director of fraud solutions for FICO.
"Durbin, as it stands today, is very poor for the payments industry and the consumer, because it would lend itself to reducing fraud prevention and detection," says one banking/security leader about the controversial Durbin Amendment to Dodd-Frank banking reform.
Breaches will not slow anytime soon, and there's not much financial institutions and the payments chain can do to stop them. At this point, the best course of action for banks and retailers is to focus on damage control.
Some organizations hesitate to involve law enforcement in their breach investigations for fear that exposing the hack would cost them their reputations and money. A Justice Department contingent tells a gathering of lawyers why that impression is wrong.
When a database breach occurs, consumer notification continues to be a public problem. And it's time for the federal government to step in, says Linda Foley, co-founder of the non-profit Identity Theft Resource Center.
"I think this is another great example of the lengths to which criminals will go to perpetrate these schemes, and the amount of homework they do," says Julie McNelley, banking and payments fraud analyst at Aite Group.