Financial institutions 'should look into data breach risks now'

2009-10-14

Now is the time for financial institutions to look into the risks of a data breach affecting them, it has been claimed.

Indeed, there has been no better time for financial bodies to fill gaps in a data breach response plan, according to Nick Buri, senior product manager for Shoreview, Deluxe Corp's fraud and protection team.

He said in an article for Bank Systems & Technology that reviews of firms' response plans should look into how they identify and prevent a breach.

Risk assessments need to happen on a regular basis, Mr Buri continued, and a data breach drill can be a fast way to figure out how big the risk is as well as act as "a big wake-up call".

Firms should encourage workers to provide feedback on possible risks, he added.

Web fraudsters are having it easy at the minute, according to Tom Ilube, chief executive officer at online information firm Garlik, as people are being complacent on the web.

Read more security news.