News Topic: Data security

A year ago, then-Wells CEO John Stumpf testified before two committees. It went so poorly Stumpf later resigned and his bank is still struggling to repair the damage. Here's how Equifax CEO Richard Smith can avoid the same fate. ... Read full article

Did hackers access the credit bureau's computers two months earlier than the company first thought?; the Fed's decision to start unwinding its balance sheet should raise rates and boost bank profits. ... Read full article

Federal Reserve Chair Janet Yellen said Wells Fargo’s treatment of customers was “egregious and unacceptable," hinting that more regulatory action was likely. ... Read full article

The chief information officer and top security officer are retiring in the wake of the massive data hack; Mike Cagney is leaving the student loan lender. ... Read full article

Equifax Inc. said two of its senior executives are leaving as the credit-reporting company faces mounting public anger for losing data on 143 million Americans in one of the biggest cyberattacks in history. ... Read full article

Senate Democrats' legislative bid to reform the credit reporting industry is tempered and balanced, according to analysts, which could help it gain traction in the GOP-controlled Congress. ... Read full article

Readers react to Equifax's massive data breach, weigh in on the departure of SoFi's CEO, endorse a new digital identity system, and more. ... Read full article

Security professionals have long argued against the use of static identifiers like passwords and Social Security numbers, while consumers have long questioned why a handful of bureaus can claim to be the ultimate judges of their identities. ... Read full article

Banks should not point blame at the credit bureau but rather should step up and demonstrate their commitment to their customers. If you punt the problem to Equifax, it suggests you don’t really care. ... Read full article

It's not just Equifax that needs to worry. The incident can and should be a turning point for the financial services industry that it needs to end its reliance on static personal identifiers like Social Security numbers and birth dates. ... Read full article

Can the internet giants peek at bank data, or eavesdrop on conversations with customers, sent over their gadgets? Here are the facts and the fuzzy areas. ... Read full article

Client-side phishing protections combined with advanced phishing detection capabilities can help prevent phishing success. ... Read full article

The selling of anonymized customer data may be legal, but it raises ethical questions about the use and protection of that information. ... Read full article

Some of the biggest risks facing any large bank come from within, such as human error or mischievous traders. Risk management consultant and author Andrew Waxman discusses how cognitive psychology and augmented intelligence offer help. ... Read full article

ATMs tend to run on older versions of the Windows operating system, which potentially makes them targets for ransomware that preys on such vulnerabilities. ... Read full article

Two related and equally humiliating cases of high-level bankers completely falling for fake emails illustrate the dangers of social engineering and the need to better protect executives and other employees from themselves. ... Read full article

Better information security will remain the foundation of success as the financial services industry moves quickly to engage new business models. ... Read full article

The Trump administration must weigh risks to national security in its review of the $1.2 billion deal. Its decision will shed light on whether — given the president’s “America First” rhetoric — Chinese investment is still welcome in the U.S. financial ... Read full article