NIST proposes the establishment of an independent identity ecosystem steering group, led by the private sector but working with the federal government, to help create an environment to assure the security of online transactions.
"The misfortune here for the banks is that they can have the best fraud-detection systems out there ... but it all breaks down when they call the 'hacker' to verify the transaction," says Gartner's Avivah Litan.
Alisdair Faulkner of ThreatMetrix says financial institutions and businesses should focus on five key security areas. What make up the top five, and where do banks need to make the greatest fraud-prevention investments?
Consumer behavior is the biggest concern when it comes to online risks posed by social media. But Bill Wansley of Booz Allen Hamilton says financial institutions can manage those risks. What steps does he recommend?
Rep. Dan Lungren, the bill's chief sponsor, contends the regulatory approach taken by his bill would be less intrusive on the private sector than proposed Senate legislation and a plan by President Obama.
Organizations that have experienced a breach report that three lessons they learned were to limit the amount of personal information collected, limit sharing data with third parties and limit the amount of data stored, a new survey shows.
Spear phishing, or targeted phishing, schemes are the industry's most concerning trend, according to a new report from the APWG. So, what can we do to curb phishing attacks? Executives at BITS and FS-ISAC have a new idea.