Wire fraud incidents from China prove current security measures, including multifactor authentication, are too easy to bypass. And security pundits say it all points back to why the financial industry needs more guidance about adequate online security.
In the wake of the RSA, Epsilon and Sony PlayStation data breaches, we spoke to two global information security leaders and asked for their three biggest leadership lessons learned. Here is what they shared.
While the cause of the Epsilon e-mail breach has not been publicly disclosed, the incident's aftermath has seen a growing list of organizations impacted by the breach. It also has ignited a new debate about the sensitivity of e-mail addresses.
Altra Federal Credit Union developed a calculated strategy before moving to the cloud -- advice all financial institutions should follow, says Brian Boettcher, VP of IT, who shares his lessons learned.
"It is the biggest breach we have ever seen; and to say no financial information has been stolen is, well, understating the massive breach and concern," says Neil Schwartzman, founder and chief security specialist at CASL Consulting.
Despite efforts to tighten security to prevent such digital invasions, the military understands such breaches could still occur, which led Lynn to say the military must develop and train its cyber defenders to act in a degraded information environment.