The use of social media raises risk management issues, and education is the key to overcoming the common misperception that "you can say anything you want on social media and not have any consequences," says compliance specialist Roy Snell.
"Professionals like me now understand that we are the ambassadors for ethical behavior and should actively encourage other employees to adhere to it," says Alessandro Moretti, a senior risk and security executive.
Despite increased incidents, major U.S. card issuers receive poor marks for card fraud prevention, according to a new study from Javelin Strategy & Research. The biggest area of concern: card-not-present fraud.
When it comes to qualifying for HITECH Act electronic health record incentive payments, Fallon Clinic is a trailblazer. It's also leading the way in its EHR security initiatives designed to protect patient privacy.
"Any other bank could have just as easily been victimized," says banking fraud expert Shirley Inscoe, following the arrest of a former Citigroup executive charged with embezzling more than $19 million.
People's view of cybersecurity will need to broaden over the next few years, says IT expert Robert Brammer. That's why a consortium has been established to conduct research on the security of computer systems, as well as other areas where computerization has excelled.
"I think we'll see some additional investments in fraud prevention tools as a result, and it could be EMV tokens or neural networks," says Jim Schlegel of ACI Worldwide, following the Fed's move on debit interchange fees.
The database has become the main target for hackers and negligent insiders, as the insider breach at Bank of America showed. A recent survey highlights the need for financial institutions to enhance security measures to mitigate threats and losses.