Banks and credit unions are investing in enhanced fraud detection, but are they spending money on the right things? The new Faces of Fraud survey report shows too many are still confused by updated FFIEC demands.
Banks and credit unions say they are investing in enhanced fraud detection, monitoring systems and education. What other anti-fraud investments top their lists? See what our 2012 Faces of Fraud Survey revealed.
"This is about preparing the battlefield for another type of covert action," a former high-ranking U.S. intelligence official says. "Cyber collection against the Iranian program is way further down the road than this."
Gartner's Peter Firstbrook, to illustrate the vulnerability of IT systems, cites research that pegs at about 400 days the average time a targeted virus remains undetected on a computer. And, he says, that doesn't speak highly of the current offerings from security vendors.
LinkedIn contends it had on staff world-class security experts when nearly 6.5 million members' hashed passwords were pilfered, although the social media company has neither a chief information officer nor chief information security officer.
Brokers and insurers have upped their marketing efforts to get enterprises to purchase cyber insurance, even though policies could be risky for sellers and buyers. See 10 considerations you should mull before buying cyber insurance.