[Dataloss] Financial services firms share security tactics

[lyger]

Courtesy InfoSecNews.org and WK:

http://www.networkworld.com/news/2006/12706-finsec.html

By Ellen Messmer
Network World
12/07/06

Some of the top players in the financial services arena-- such as Visa,
JPMorgan Chase and Experian International -- are expanding their tactics
for preventing customer data loss.

IT security managers convening at two interrelated conferences in New
York this week said their firms are adopting both new network defenses
and organizational structures to lower risk of a data breach. Some say
the very survival of their businesses may be at stake, since news
reports about incidents are leading to customer loss and million-dollar
lawsuits. California was the first state to require public disclosure of
a data breach, and now there are now about 30 other states and
localities that do as well.

When an event becomes public, the stock price tilts, theres brand damage
and finally decreased revenues, said James Christiansen, chief
information security officer at Experian International, speaking at the
Summit on Preventing Data Leakage.

[...]