"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.
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.
"I'd like to make sure our recommendations fit with what the FFIEC is recommending, to continue to help us mitigate risk," says Michael J. Wyffels, SVP and CTO of QCR Holdings Inc. "But the hackers seem to continue to find new ways to exploit vulnerabilities."
Our 2011 survey exposes barriers preventing government IT security practitioners from doing their jobs effectively, identifies services and technology they need to safeguard IT and determines the comfort level they have with cloud computing.
David Navetta, an attorney who specializes in IT security and privacy, says the magistrate's recommendation, if accepted by the judge, could set an interesting legal precedent about the security banks are expected to provide for commercial customers.
What's the top threat on the minds of global IT leaders? Employee-owned mobile devices - or BYOD (bring your own device), as the trend is known. The struggle: Do mobile device benefits outweigh the organizational risks?
It's clear that major data breaches have become not just a topic of mainstream news, but they're occurring with such frequency and potential devastation that they're almost deserving of a 24-hour news desk.