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.
Jeff Kopchik of the FDIC says too much emphasis on what's "missing" from the FFIEC's new guidance detracts from regulators' intent: providing financial institutions with a guideline for securing online transactions.
"The FFIEC guidance does a good job of addressing today's and yesterday's threats and suggested techniques, but it is not sufficiently forward-looking," says Gartner's Avivah Litan. "Two years from now, the guidance will be sorely out of date."
Security teams need to look at the controls they have put in place in their organization and question whether they are shifting risky behavior to different areas and perpetuating problems, says Intel CISO Malcolm Harkins.
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.
As our reliance on networks continues to grow, the threats against them are growingly equally. A new Cyber Operations blueprint aims to address the problem, pointing organizations in the right direction.