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Archives for December 2013 « Recent Articles

Photo of James WesterOffline

With few details available, it's too soon to draw any specific conclusions from Target's data breach. But the compromise of 40 million credit and debit cards at one of the largest retailers in the U.S. shines a bright light on the difficulties in securing payments.

Photo of Jerry SilvaOffline

FFIEC Issues Final Guidance on Social Networks

By Jerry Silva

Last week's issuance of guidance around social networks added no new requirements to existing regulations from the FFIEC, but served to clarify to the industry that channels like Facebook and Twitter are no different than online banking and mail in terms of their use as a communications channel for bank customers - and must be treated as such from a risk perspective. However, there is a single, hidden risk that's hinted at in the guidance that banks must be aware of, the risk of doing nothing in social media.

Photo of Marc DeCastroOffline

I admit I have a problem. I love gadgets and electronics. I don't necessarily consider myself leading edge - I still don't have a 3D television, I enjoy the Wii more than the Xbox 360, and my primary tablet is a second generation iPad, but that does not mean I don't try to stay up with advances in the latest electronics. The latest edition to the DeCastro household was Google Chromecast. I figured for $35, what is the risk?

Photo of Michael VersaceOffline

Three days in a row. Today Chase reported a mid-summer breach of 465K pre-paid card accounts. Together with digital identity losses reported on the 4th by Facebook, Google, and Twitter (2,000,000 hacked accounts), and the debit and credit card system failures at RBS and NatWest on the 2nd that affected thousands of banking customers in the middle of peak shopping hours (not enough IT, says CEO Ross McEwan), traditional identity systems and networks based on cards, PINs, passwords, SSN, firewalls, and marginally successful security strategies (PCI DSS 3.0 for one) continue to fall prey to IT complexity gremlins and hackers.

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