Stories about: Community Banks

While external data breaches involving household brand names such as TJX tend to grab more headlines, insider data thefts are emerging as compliance and reputational risks for organizations. Recent studies suggest that over 60 per cent of data breaches originate from an internal source or event. One reason for this is that in today's data-rich environment organizations continue to struggle with the 'human element' at the heart of data security. It can be extremely difficult to balance the protection of sensitive data with granting access to employees who need it to complete their daily job requirements. To that end, organizations have implemented several new security measures including employee education programs, data access monitoring, and strict policies regarding USB ports and portable devices. Although these are steps in a positive direction, little has been done to study and understand how the data is exploited once it leaves an organization.

In one week, about 20 customers of MoneyAisle.com, a Web site where banks competitively bid for customers through secure, live auctions, have deposited more than US$1 million in high-yield savings and certificate of deposit accounts with small and midsize banks, the company said Tuesday.

Data breaches cost companies an average of US$197 per record in 2007, according to a study by the Ponemon Institute. The average cost of a data breach was US$6.3 million, up from US$4.8 million in 2006.

If there's one thing that Aaron Kornblum would like to quash, it's the botnet armies.

KeyBank is an example that Linux proponents wish there were more of. The Cleveland-based bank is in the midst of a multiyear upgrade to Linux and expects the open-source operating system to be running on almost 15 percent of its servers, many with mission-critical applications, by 2008.