Sen. Robert Menendez says regulators should have the power to compel banks to toughen IT security and offer timely customer notification of a breach. But if they don't, the Banking Committee member says in an interview, they should come to Congress to get that authority.
The arrest followed an investigation into network intrusions and distributed denial of service attacks against a number of international business and intelligence agencies by what is believed to be the same hacking group.
Online and mobile banking are taking the world by storm - especially in the Asia-Pacific region. But many institutions are simply not prepared to manage security and privacy appropriately in these venues, says Gartner's Matthew Cheung.
Card-skimming trends continue to pose a threat to financial institutions and retail outlets, but there are steps organizations can take to fight back, says John Pearce, director of financial services for ADT Security Services.
The California Supreme Court has ruled that a key provision of a tough state medical privacy law is not preempted by federal regulations. The evolving case, which eventually could wind up before the U.S. Supreme Court or grow into a class action case at the state level, is worth watching.
State and federal banking regulators closed two banks on Friday, June 17. These actions raise the year's total number of failed institutions to 61 banks and credit unions that have closed, been acquired or placed into conservatorship.
The Privacy and Security Tiger Team is recommending that electronic health records software certified for the HITECH Act's EHR incentive program should be able to record corrections from patients or providers as well as transmit those corrections to others.