As the holiday shopping season looms, retailers are scrambling to ensure that they will not repeat the Target data breach fiasco of 2013. But with recent news that hackers have stolen personal information from customers at Staples, Kmart, and Home Depot suggests that this trend is unlikely to go away soon.
But are retailer data breaches something that financial institutions should be concerned about? According to a recent panel of banking security experts at FS-ISAC’s Fall Summit, the answer is a resounding yes. For a bank to provide true security, isolation is not the answer. If another bank, or even another retailer is compromised, suddenly we are all less secure. Passwords are re-used. Identities are stolen. Fraudsters today are working across institutions with reconnaissance and attacks on multiple targets.
At the upcoming Financial Services Information Sharing and Analysis Center (FS-ISAC) EU Summit, Pindrop co-founder and CEO Vijay Balasubramaniyan will present “Cross Channel, Cross Enterprise Fraud and the Need for Collaboration.” He will discuss the technical and organizational changes and the collaboration required to stem cross-channel and cross-institution attacks. Issues include regulatory and privacy concerns of data sharing, logistics, and tools already in place such as CYFIN and how they work.
Cross Channel, Cross Enterprise Fraud and the Need for Collaboration
Vijay Balasubramaniyan, co-founder and CEO, Pindrop Security
FS-ISAC EU Summit 2014
November 5, 2014 from 10:30am – 11:30am