Site Map - Banking/Financial Services

Security Economy

- How can you achieve ROI from security applications

Banking on Encryption.

- A bank invests in e-mail encryption.

Did You Know That?

- In 2004, financial institutions were the industry most likely to buy terrorism insurance.

Quick Bytes: The weakest link

- Thirty-five percent of the world’s top 100 global financial institutions were victimized by attacks from within their organizations (versus 26 percent from external sources), up from 14 percent the previous year, according to the 2005 Global Security Survey conducted by Deloitte Touche Tohmatsu.

Quick Bytes: Spoof proof.

- Phishing and pharming scams typically rely on Web-site spoofing, where fraudulent but realistic-looking versions of real sites trick customers into providing sensitive information to con artists. Because financial institution Web sites are typically the ones that get spoofed, the Office of the Comptroller of the Currency (OCC) has released a paper to help banks respond to spoofing incidents. @ The OCC bulletin is available through SM Online.

Market Forces vs.Legislation: What’sYour View?

- In the wake of multiple high-profile thefts of consumer information, the protection of personal data held in business databases has become a hot topic. Some legislators have introduced bills that would hold companies liable for inadequately guarding sensitive data as one way to encourage greater security.


- This OCC bulletin helps banks to respond to spoofing incidents.

Quick Bytes: Debating losses

- Research firm Gartner has estimated that ATM and debit-card fraud resulted in $2.75 billion in losses in the 12 months ending in May 2005.

Debating Losses

- Research firm Gartner has estimated that ATM and debit-card fraud resulted in $2.75 billion in losses in the 12 months ending in May 2005. Most, it says, resulted from phishing and keystroke-logging attacks that capture account information and PINs. However, research from TowerGroup, a global financial-services advisor, estimates these losses to be much lower, with less than one percent of fraud losses coming from phishing. Most losses, it says, are from stolen cards and card skimming.@ Criminals Exploit Consumer Bank Account and ATM System Weaknesses is $95 through the Gartner Web site. Turning Phishing into Cash: Criminal Convenience at the ATM? is available from TowerGroup for $1,750; a summary is at SM Online.

Terrorism Insurance

- A bill (H.R. 2761) introduced by Rep. Michael Capuano (D-MA) that would reauthorize the government-based terrorism insurance program for ten more years has been approved by the House Financial Services Committee. The measure must now be considered by the full House of Representatives.

Major Credit Bureau Offers Credit Freeze

- A major credit bureau offers credit freezes to consumers as a way to prevent identity theft.

Financial Services Firms Under Siege

- The malicious side of social networking, financial firms under siege, and a new roadmap for security convergence.

Following Standard is Not Standard Practice

- Only one in five of the top 200 merchants is in compliance with the Payment Card Industry (PCI) data security standard more than a year after the standard went into effect to improve security among merchants and credit card processors.

Beyond Print

SM Online

See all the latest links and resources that supplement the current issue of Security Management magazine.