187 Results from 2011, /security
Retired Member
I imagine most people in the City are dumbfounded that it’s still possible for a rogue trader to run up such a large loss. After all the investment that every bank (that I know of) has shovelled into risk process, controls, systems and people over the last few years. Is any bank immune? I’m sure many will be fascinated to hear how this remained u...
16 September 2011 /security /regulation
Robert Siciliano Security Analyst at Safr.me
Without question, 2011 is the year for hackers of all kinds to get their 15 minutes of fame. But it feels like it’s lasting a lot longer than 15 minutes. With so many different breeds of hackers, each with their own agenda and an endless supply of potential targets, the media has certainly been more than willing to give them all the attention they...
I returned from holiday to find another attack vector has raised its ugly head. Reading the latest news, at least two hundred fraudulent SSL certificates (and oossibly over five hundred) have been issued from a trusted root certificate authority (CA). In this case, it appears that Diginotar, the Dutch trusted third party has been breached and spoo...
15 September 2011 /security /regulation Information Security
Pat Carroll Founder/Executive Chairman at ValidSoft
Increasingly the answer is “when it’s a telephone company”. Last week’s news that Canadian telco Rogers had filed for a banking licence was just the latest example of the competition between banking and mobile telephony. Rogers, which controls 36% of the Canadian mobile markets, has filed with the Canadian federal government to open a bank, and the...
15 September 2011 /security Innovation in Financial Services
Every time that a fraud hits the headlines there is naturally a huge focus on how the crooks got hold of all those personal banking details – this Finextra story is a good example. But there is often less attention given to how they were then able to use the customer details to extract money from customers bank accounts. Take card cloning. Of cours...
01 September 2011 /security Innovation in Financial Services
Every corporate treasurer is undoubtedly faced (on a daily basis) with the following questions: Where in the world is my cash and what currency is it in? Can I mobilize it? Do I invest or borrow? At the end of the day, was I right and how should I protect myself from tomorrow’s risks? Why are these questions on the minds of Treasurers? Because ma...
31 August 2011 /security /regulation Innovation in Financial Services
On September 12 the UK’s Independent Commission on Banking (ICB) is due to make its final report. Most observers expect the Commission to recommend a much bigger differentiation between commercial/retail banking on one hand, and investment banking on the other. That will put “banking” back in the dock and trigger another round of debate, complaint...
31 August 2011 /security /retail Innovation in Financial Services
Lachlan Gunn Executive Director at European Association for Secure Transactions
Thermal cameras can apparently detect heat signatures from your fingers on the keys after you have left an ATM. The degree of heat residue can also indicate in which order you touched them! This technology will not work effectively on metal key pads, only on plastic ones, and the successs window is limited. The message "cover your PIN when ma...
30 August 2011 /security Information Security
The most basic advice for protecting your own identity is to protect your Social Security number. The obvious solution is simply never to disclose your number, but this is silly, since, depending on your age, you have probably provided it to hundreds of people, on hundreds of forms. It now sits in hundreds of databases, accessible to thousands, an...
26 August 2011 /security /regulation
Identity theft victims don’t need Jessica Van Vliet, an assistant professor in counseling psychology at the University of Alberta, to tell them that they no longer feel safe when conducting everyday financial transactions, which most of us take for granted. But she did a study highlighting a fact that many of us in the industry have already known:...
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