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Aite's Julie McNelley says the final FFIEC online authentication guidance offers greater detail in areas such as layered security, but that institutions have much to do to prepare for regulatory assessments in 2012.
A key factor in minimizing the risk of a breach when working with business associates is to provide these partners with the minimum amount of information they need to perform their services, says security expert Brian Lapidus.
The Federal Financial Institutions Examination Council has formally released the long-awaited update to its "Authentication in an Internet Banking Environment" guidance. The new directives take effect January 2012.
The Final FFIEC Guidance has been issued and its main intent is to reinforce the 2005 Guidance's risk management framework and update the Agencies' expectations regarding customer authentication, layered security, or other controls in the increasingly hostile online environment.
The new virtualization guidance issued by the PCI Security Standards Council urges organizations to take a risk-based approach when dealing with virtualization methods, especially within cardholder data environments.
"Most convenience stores are concerned about pay-at-the-pump skimming. But they can only focus on so much," says Gray Taylor, a security and compliance expert with the National Association of Convenience Stores.
Characterizing LulzSec as cyberterrorists, department officials confirmed that LulzSec appeared to have gained access to the e-mail accounts of at least seven department employees, with the pilfered information posted online by the group.
Leigh Williams says preventing online data breaches requires cooperation within the online ecosystem from domestic and international organizations. Spearheading and maintaining that cooperation requires federal oversight, he contends.
Police in Beaverton, Ore., have asked for the public's help to identify four suspects who were caught on camera using fake payment cards allegedly created from details skimmed by fraudsters at area Michaels stores.