Wall Street & Technology: Blog

To Avoid Data Breaches, Firms Need to Improve Detective Controls

Thu, 21 Aug 2008 11:38:37 -0500

To boost their chances of preventing costly data breaches , financial firms must improve their detective controls, according to an analyst at SMART Business Advisory and Consulting.

Firms seem to understand the importance of preventative controls, such as having firewalls and access control lists. "But they lack a good grasp of detective controls," says Tony Hernandez, managing director at SMART.

Investment Firm's Massive Data Breach Caused by File-Sharing

Thu, 10 Jul 2008 16:36:25 -0500

A huge data breach at an investment firm has thrown the spotlight on the dangers of allowing employees to use popular online file-sharing software such as LimeWire, after an incident saw an employee use the service to trade music or a movie, and unwittingly expose his organization's entire database to potential criminals.

Merrill, NYSE Execs Talk about IT Security

Tue, 17 Jun 2008 17:12:00 -0500

Internal threats, particularly where company employees from different departments collaborate over a long period of time to defraud the firm - are proving to be one of the biggest security headaches for financial firms, a conference at the New York Stock Exchange heard on Tuesday.

How Secure is India?

Wed, 14 May 2008 08:46:39 -0500

One of India's first surveys on security across the country's financial institutions has found that 30% of banks reported to have been victims of identity theft during the last year.

Sophisticated Web Attacks Force Banks to Re-Think

Wed, 23 Apr 2008 15:51:55 -0500

The sophistication of increasingly widespread fraudulent techniques such as Man-in-the-Browser attacks are forcing financial institutions to re-assess how they fight electronic fraud.

Could Lehman Bros have prevented latest fraud?

Mon, 31 Mar 2008 17:49:12 -0500

Lehman Bros has filed a lawsuit against Marubeni Corp., the Japanese trading giant, responsible for defrauding the New York-based investment bank out of US$352 million through a scam carried out by two rogue employees.

ISO Promotes Biometric Standard for Financial Firms

Tue, 12 Feb 2008 11:25:10 -0500

With the aim of boosting security in the financial services industry, ISO, the world's largest developer of international standards, has issued a new biometric standard for financial firms.

Cyber Crime Film Draws Attention

Wed, 06 Feb 2008 13:09:25 -0500

Several dozen financial industry and technology professionals recently gathered at the Tribeca Grand Hotel in New York, to attend a private advanced screening of "The New Face of Cybercrime," a documentary film by Academy Award-nominated filmmaker Fredric Golding.

Banks Must Heighten Security Following New Round of Attacks

Wed, 16 Jan 2008 13:50:33 -0500

A security expert says financial institutions must adopt a strong multi-factor security solution, which can protect them from all kinds of online attacks and do not need to be re-written when a new threat is identified.

iPhone Gets Secure VPN Solution

Tue, 11 Dec 2007 12:00:25 -0500

In a bid to turn Apple�s iPhone into a business tool, Astaro, a unified threat management solution maker, announced it will now offer iPhone support to VPNs controlled by its Astaro Security Gateway appliance.

Intelligence Chief Warns Banks of Chinese Espionage threat

Mon, 03 Dec 2007 14:40:14 -0500

UK intelligence network MI5 has contacted 300 chief executives and security experts at leading British financial institutions, warning them that Chinese state organizations may be spying on them.

Upsurge of Attacks Against Banking Sites

Mon, 26 Nov 2007 17:05:35 -0500

Security firm F-Secure has warned of an upsurge in attacks against banking sites, using a new generation of malicious codes in a technique called "Man in the Browser".

Top Level Financial Execs Targets of Cyber Attack

Tue, 20 Nov 2007 14:58:59 -0500

In the last 24 hours, there has been a spike in malicious attacks against banks, and in particular against C-level executives at financial institutions around the world.

iPhone: Not Right For Financial Industry Now, But Survey Shows It Could Be In Future

Mon, 24 Sep 2007 17:40:32 -0500

According to a new survey, most financial services firms are not currently considering using Apple's iPhone on a corporate level � but this could change in the future.

The Danger of Revealing Too Much on Facebook...

Thu, 20 Sep 2007 17:08:21 -0500

At Wall Street and Technology's Executive Peer Roundtable on Security Risk this week, delegates pressed financial firms to consider the security threat posed by employees -- or potential employees -- using social networking sites, such as Facebook and MySpace.

It is critical to secure applications and data inside a company, they said. But it is equally important to keep a careful eye on communications between employees and the outside world.