David Navetta, an attorney who specializes in IT security and privacy, says the magistrate's recommendation, if accepted by the judge, could set an interesting legal precedent about the security banks are expected to provide for commercial customers.
For nearly two years, banks and businesses across the U.S. have been plagued by a wave of corporate account takeover. And while there's no one answer, Texas bank examiner Phillip Hinkle sees ways that institutions can better detect and prevent these crimes.
Sen. Charles Schumer's amendment to Regulation E, which aims to give local governments and school districts the same level of protection as consumers, could set an adverse precedent for financial institutions, says Doug Johnson, vice president and senior advisor of risk management for the American Bankers Association.
It's been nearly two years now since the corporate account takeover spree began. So, what exactly are the courts, institutions and the financial services industry doing today to prevent further incidents of fraud?
Bankers aren't waiting for the FFIEC to act on the release of its updated online authentication. Instead, they've already begun to comply with the major points recommended in the draft. And the death of Osama bin Laden has heightened concerns terrorists' efforts to launder money through legitimate banking channels.
Personalized medicine research, which relies on genetic information paired with electronic health records, could pave the way for many treatment breakthroughs. But because of the sensitive nature of the information involved, pioneers in this field must take extra privacy and security precautions.