"Regulation drives spending," says George Tubin of GT Advisors. "You're in a situation where the regulators are telling you, 'You have to do something; you have to make improvements.' Therefore, the bank has to spend some money on technology."
In the wake of the Global Payments Inc. card breach, ID theft expert Neal O'Farrell says banks and credit unions must be proactive with outreach to customers. What should institutions' messages include?
As enterprises spend frugally on IT security, cybercriminals aren't, and that presents big problems for organizations working feverishly to secure their digital assets, says Steve Durbin, global vice president of the Information Security Forum.