121 Results from 2012, /security
Retired Member
With the Adoboli trial beginning today, please indulge me and allow me to once again look at the stock markets, and more specifically the traders that play within them. I will start with a fairly obvious statement, but one I find particularly pertinent to this case: any system set up to protect an asset is only as good as the people that manage an...
10 September 2012 /security
The Dodd-Frank Wall Street Reform and Consumer Protection Act represent a significant step-change in the global financial services regulatory structure. Some of the provisions associated with Dodd-Frank present both technological and supervisory implications for those firms engaged in swaps activities. As a consequence of this shift in the regulat...
03 September 2012 /security
Feast in the Front Office, Famine in the Back Office – Competitive Advantage in the Middle? In the capital markets industry, the front office has seen much growth and innovation in recent years supported by substantial technology changes. At the same time, the back office has seen very little investment. While it’s been a feast in the front office ...
30 August 2012 /security
Pat Carroll Founder/Executive Chairman at ValidSoft
The recent findings of the British Retail Consortium’s first e-crime study which estimates that UK retailers lost over £205 million in 2011-2012 due to e-crime caught my eye recently – particularly the estimate that £77.3 million came from actual fraud losses. The most costly form of e-crime for retailers was personal identification-related fraud,...
29 August 2012 /security /retail Innovation in Financial Services
Uri Rivner CEO and Co-Founder at Refine Intelligence
A couple of weeks ago I got a LinkedIn invitation from someone called Tricia Bennett. I don’t know Tricia, and in such cases I’ve developed a best practice of first asking “hey mate, do I know you from somewhere”? What’s the rationale for linking yourself professionally only to people you’ve actually met? Well, other than general common sense, it’s...
28 August 2012 /security Information Security
Robert Siciliano Security Analyst at Safr.me
Scammers tend to follow an editorial calendar much like journalists do. For example when the holiday season is coming journalists often write about bargains to be had while scammers use the season as an opportunity to try and entice users with deals that are “too good to be true.” This same practice is also used for high-value news items such as a...
28 August 2012 /security /regulation
Andrew Churchill ID & Authentication Standards author at MIDAS Alliance
‘State-sponsored banking virus found in Middle East’ ran the recent headline, referencing the latest cunning plan to fleece banking customers of their access credentials, but the article’s conclusions struck me as flawed for a number of reasons. First and foremost there is nothing new about malware stealing banking access credentials - as my last...
27 August 2012 /security
Contactless payment, also known as NFC, or near field communication, is a technology that allows electronic devices to communicate wirelessly. In the case of a mobile wallet application, those devices would typically be a mobile phone and a point of sale terminal at a checkout counter. (NFC has other uses beyond credit card transactions: it can in...
21 August 2012 /security /regulation
Frequent fliers accustomed to traveling internationally for business are helping drive demand for EMV cards within the United States. Business travelers who have found it increasingly difficult to use their magnetic stripe cards while abroad are now requesting that American banks provide EMV, or chip and PIN cards, which are used more commonly in ...
I am not at all surprised at this. It is sub judice even to discuss what the investigation will reveal; yet I will risk my last cent if it is not an ‘inside job’ with the connivance of the POS folks. It was the butler after all. The phrase ’information security’ on google search throws up 874,000,000 results (0.17 seconds) and the phrase ‘key lo...
20 August 2012 /security Internal Auditors in Financial Services
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