As fraud continues to evolve and affect financial institutions, careers are plentiful for fraud-fighting professionals, says Jean-Francois Legault, a fraud investigations specialist with Deloitte and Touche.
"The consequences of computer hacks are much different than they used to be," says cybersecurity expert Joseph Steinberg, following the sentencing of three convicted fraudsters.
"I don't think there's any connection [to] the investments banks will make in fraud prevention," says Doug Johnson of the ABA. "It's not about making budget cuts; it's about protecting the customer relationship and ensuring security."
A consumer advocacy group is calling attention to a little-known fact about seven federal breach notification bills pending in Congress: They would leave certain healthcare information unprotected.
When it comes to social media, organizations have to be vigilant and consistent with risk assessments that closely monitor and evaluate emerging threats, says Andrew Kennedy of BITS.
Just over a month after Citigroup confirmed a breach of its online banking platform, a second breach affecting Citi customers has come to light, this time in Japan.
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.
Ian Harper of Pentagon Federal Credit Union says financial institutions should continually review their risk management processes, a recommendation reinforced by the new FFIEC Authentication Guidance.
When economists dissected July's 0.1 point drop in overall unemployment, to 9.1 percent, they attributed the decline mostly to fewer people seeking work. But that's not the case for IT security professionals. There are few discouraged workers in the information technology occupation categories these days.
"The need for fraud-prevention tools increases during times of recession," says Aite Group's Julie McNelley, who does not believe this week's economic shockwaves will hurt organizations' security priorities.
ISACA's Marc Vael says differences in cloud computing environments and cloud providers can pose security risks. But well thought-out contracts and risk-management plans can fill potential security gaps and ensure business continuity during outages and disasters.
The HHS Office for Civil Rights should carefully consider comments received on its proposal to require healthcare organizations to provide patients with a complete list of everyone who has electronically viewed their information.
Looking at the international stock market crash and the impact it's likely to have on future investments in fraud detection and prevention, how much can banks and credit unions reasonably afford, when economic stability is shaky and the financial future uncertain?
What Operation Shady RAT reminds us is not just how vulnerable our IT systems are, but how interconnected we are as a global society, and the fundamental role information technology plays.
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