BankInfoSecurity.com "Information Technology Risk Management" Blog RSS Syndication

An Open Letter to Heartland CEO Robert Carr

It was nice of Tom Field and his team to let me be away for the last number of months as they held the fort and blogged on all sorts of matters from Bernie Madoff to FDIC issuing alerts regarding online fraud and BB&T's acquisition of Colonial Bank. It's even nicer to be back. Lots and lots of news on the technology risk management front to talk about.

Risk Management, Compliance and Industry Standards

No matter where I turn, I can't seem to avoid reading about the Heartland data breach that was announced about a week ago. I have read everything from the incident being compared to the tainted Tylenol case dating back to 1982 or the more 'recent' case of TJX breach and just about everything in between.

Events of 2008 and What They Have Taught Us

It's that time of the year when each one of us sits down and reflects on how the year that just past by went and develops our own lists of resolutions. Hopefully, there is some connection between these two - we decide on improving things that need to be improved. Looks like - based on this logic - we will have a long list for 2009.

The Rescue Plan: Bringing Confidence Back to the Credit Markets

It seems like ages ago when I wrote about the credit markets being frozen and the major indices at stock markets around the world taking a nose-dive. It was actually last week. In terms of trading days, it was only two days ago. But something changed with the beginning of the new week.

Economic Crisis: Who Do We Blame Next?

Two nights ago, I dozed off on the recliner while watching the second Presidential debate on CNN. I am quite sure the debate had an exciting and educated exchange of ideas and philosophy on where our country needs to go next (by nature, I am an optimist), but the exhaustion from the day's events just couldn't keep me awake.

Bank of Asia Experience Teaches us: Get Ahead of the News

When I went to bed last night, Congressional leaders had just nailed down details of the $700 billion financial bailout.

As I left my house this morning, the President was addressing us about the plan and why we should embrace it.

By the time I got midway to work, Citigroup had acquired most of Wachovia's assets.

WaMu is NoMore!

To say that the last couple of weeks have been busy for the people in the news business will be a gross understatement. It was only a week-and-a-half ago that I was talking about the Bloody Monday and its impact on the employees and customers. Well, it's Friday and the last evening the Office of Thrift Supervision read the last rites to one of the country's largest banking institution - Washington Mutual. The bank ceased to exist.

Picking up the Pieces from 'Bloody Monday'

We Do, Indeed, 'Live in Interesting Times'
It's Tuesday, and after the bloody Monday we just had, I thought I would work backwards and try to pick up some of the pieces from where we left off a couple of weeks ago.

Lehman Brothers, after being in the business for 158 years, is now to be referred to in the past tense. Yes, the biggest bankruptcy in history was filed yesterday, September 15, 2008. The day will go down in history for a couple of other reasons:

TJX Case Indictments: Lessons Learned

The indictments of 11 individuals by the Department of Justice last week brought the TJX case and the other high-profile compromises of a number of retailers back into the limelight. I personally know a significant number of banking institutions that were victims of this crime.

These criminal activities perpetrated by these individuals had a great deal of impact on the banking institutions - a different impact, in some ways, than the actual incidents had on the retail outlets.

Banking Crisis Hits Home with Community Institutions

It used to be a joke in the banking industry:

Question: How do you define a community bank?

Answer: When the CEO can walk out onto any street, be recognized and asked "What are you doing with my money?"

Suddenly, in the wake of recent bank closings, this old scenario leaps to mind, but now it's no joke.