According to Kevin Mahaffey (CTO at a security firm Lookout) "The more ways we make data more convenient, the more risk there is to access the data and access things without your knowledge". Such is the case with Apple watch. It expands the data set freely over the internet. Not only your location can easily be traced, your heart rate and activities can also be monitored by which your mood and choice can easily be deduced. To know more about the new technology, follow: http://www.cmswire.com/cms/mobile-enterprise/is-the-apple-watch-a-security-threat-029105.php

Banks are shifting their target from mobile banking to security scrutiny. What makes it more challenging is a far less prevalence of anti-malware software on mobile devices. Mobile banking allows customers to monitor fraud in real time together with their banking institutions. And many of our smartphones are more secure than our desktop or laptop computers with latest biometric and encryption technologies which provide two major benefits- Improved security and Improved self-help features so that customers don't have to call, email, or tweet their bank's customer care representatives. Read more at:

http://www.banktech.com/security/4-hot-mobile-banking-security-developments/d/d-id/1319161?image_number=1

•  Big Data enables various capabilities like forensics and the analysis of long-term historical trends. By collecting data and analyzing historical trends, you would be able identify when an attack started, and what were the steps that the attacker took to get a hold of your systems. These techniques could play a key role to detect threats at an early stage. Big Data provides  opportunity to consolidate and analyze logs automatically from multiple sources rather than in isolation. This enhances intrusion detection systems (IDS) and intrusion prevention systems (IPS). Integrating information from physical security systems, such as building access controls and even CCTV, could also enhance IDS and IPS to a point where insider attacks and social engineering are factored in to the detection process. This presents the possibility of significantly more advanced detection of fraud and criminal activities. Big Data could result in far more practical and successful SIEM, IDS and IPS implementations. Read more at-         http://www.techrepublic.com/blog/big-data-analytics/how-big-data-is-changing-the-security-analytics-landscape/

According to the Identity Theft Resource Center, to date there have been more than 778 million records exposed in thousands of data breaches. 

One of the foremost technology solutions for addressing the financial security concerns is Biometrics. Its application in the Banking and Financial Services industry is projected to increase to $8 billion by year 2020. This is largely due to less reliability of traditional authentication systems. Investing in biometrics is also seen as a lucrative opportunity today as banks and financial institutions all over the world want to implement it in their security systems as soon as possible.

To sum up, Biometrics in banking industry is now quickly evolving into a global standard. Read the following Investopedia article to increase your knowledge about this opportunity:

http://www.investopedia.com/articles/investing/042015/biometric-banking-huge-prospects-tech-profits.asp

There is an increased demand for surveillance systems by civil and government agencies which has given rise to the global market for facial recognition. This is due to growing number of crimes and terrorist activities globally. Furthermore, acceptance of facial recognition in the entertainment industry and consumer electronics is expected to raise the demand for this kind of technology. Its international market comprises of 2D facial recognition, 3D facial recognition, and facial analytics. The demand for these facial recognition technologies is further influenced by increasing demand from various other industries like retail, banking, financial services and insurance (BFSI), and others. The global facial recognition market is dominated by players that develop facial recognition technology solutions. Read more at: http://insurancenewsnet.com/oarticle/2014/09/16/global-facial-recognition-market-an-overview-of-growth-factors-and-future-prospe-a-555987.html#.VBkPJPmSzo4

Any rupture in the Contact Center can be expensive and damaging so it is worth to approach these matters in the right way. Security is a journey and corporate companies must mesh up with technologies that support it. At the same time with security, friendly culture is appreciated. Some of the key points towards it are following: Security starts at the top: Security experts should be included in the planning before important decisions specially like signing contracts are made. Context is king: Business documentation should be made in a clear way. Caveat Emptor: Vendors are an important link and they can create a whole set of tensions. Experience shows that a well-planned security network saves money and improves economics. Last of all every organization should be honest and lower risks and improve financial conditions. Read more at: http://www.callcentertimes.com/Home/tabid/37/ctl/NewsArticle/mid/395/CategoryID/1/NewsID/795/Default.aspx

Does the future of security belongs to open source? It is not a topic of debate. It is the truth that nowadays the worlds runs on Linux and open source software. But on average, open-source programming is the best way to prevent security troubles. To know more about this, go through the article by Steven J. Vaughan-Nichols, writer about technology and the business of technology.

http://www.zdnet.com/securitys-future-belongs-to-open-source-7000029687/

Though applying cutting edge technologies are on unprecedented rise in banking industry, security issues are cropping up more and more. Banks are becoming vulnerable to increased frauds and cyber-attacks.  This can negatively hamper the image of the bank in the minds of its customers.

To counteract this, banks have developed various analytics tools. But, they are rule based that depend on arbitrary thresholds to trigger alerts for potential frauds. The flip side here is that it may generate false positives. These can cause deep frustrations among honest customers who are falsely blocked for fraud or are constantly asked to undergo strict security procedures.

 A new type of analytics tool has been developed to solve this problem. The new tool is called Adaptive Behavioral Analytics. It produces an accurate result that reduces false positives. Unlike rule based analytics, Adaptive Behavioral Analytics combine customer information to create a behavioral profile at an individual level. This gives a clear picture about the customer and generates an alert if there is any deviation from typical behavior spotted in real time. Interested to know more?

Read at http://www.bobsguide.com/guide/news/2014/May/16/and-now-for-some-good-banking-news.html  for more details on how this new Analytics tool is helping banks to detect and fight fraud.

How can we rethink the ways we protect our changing IT world? We do IT differently these days, with users bringing their own devices into networks, with apps in the cloud and users are wirelessly connected - from anywhere at any time. But we still do security the same old ways, with firewalls the mediaeval fortresses guarding the gates around our walled city data centers. Detecting malware is complex. New malware that's never been analyzed won't be blocked by conventional tools. The risk may be small, but it's still a risk. Changing the way we think about protecting our networks from malware changes the game. It lets us focus on understanding the software engineering implications of malware. It's a new world out there and it's good to see that the security industry is thinking about how it needs to react, taking advantage of the same new tools and techniques we're using in private, hybrid, and public clouds. Now it's up to us to think about how we can prevent attacks on our infrastructure and keep that vital data right where it belongs.

To know more, read the article by Simon Bisson, Freelance technology journalist, follow http://www.zdnet.com/it-security-its-time-to-change-the-game-and-heres-how-7000029246/ 

Implementing cloud data encryption and maintaining control over encryption keys is an important way for the enterprise to verify how information can be shared and unlocked. Cloud data encryption transforms data so that it is undecipherable without the key that can be used to change the data back to its original form. But several enterprises are now realizing that when they cede control of their encryption keys to their cloud providers, their sensitive data may not be as private as they had hoped. They need to look for peer reviewed security proofs and understand implications on end users of cloud applications if there are strong encryption techniques. Recommendation from Gartner and the security and compliance needs to control sensitive data and it becomes clear that having vast amounts of sensitive data dispersed to multiple cloud application providers and relying on those providers to keep the encryption keys safe creates a security paradox for the enterprise.

To gather more insights visit the article by Gerry Grealish, Chief Marketing Officer of PerspecSys, follow http://www.cloudcomputing-news.net/blog-hub/2014/mar/20/when-deploying-cloud-data-encryption-protecting-encryption-keys-is-critical-to-keeping-cloud-data-private/

Unified communications platforms can be seen not necessarily as end points, but as beginning points for intrusion. It is a growing concern for organizations today. According to Kevin Riley, chief technology officer, Sonus Networks, as landscape architecture surrounds Unified Communication systems, emphasizing more on security is needed. A recent survey by the CIO Playbook reveals that 31% of organizations considered security and privacy issues to be a key challenge while implementing unified communication system. This concern is because integrating platforms requires opening up ports to enable the flow of data, which means additional unwanted traffic is able to flow freely. However, organizations can take precautions, like installing session border controllers (SBCs) to close ports that are not required and protect their networks from dangerous traffic.

To read more, visit the following link:

http://searchunifiedcommunications.techtarget.com/feature/Striving-for-secure-unified-communications

In this era of advanced analytics, there are many new challenges involving privacy and security of individuals, as computing power allows nonprofits, businesses, and researchers to gather ever-larger troves of information. Though it can be observed that there is a colossal increment in the amount of available data, we still only have two eyeballs and one brain! How a traditional library will look without a librarian, or an encyclopedia without an index? Scale that prospect up to the realms of web analytics, astronomy, high-speed finance, or even basketball statistics, and the problem becomes clear.

Research scientist Fernando Pérezof, University of California, Berkeley, recently spoke about it at a symposium titled “Weathering the Data Storm: The Promise and Challenges of Data Science,” hosted by the Institute for Applied Computational Science (IACS) at the Harvard School of Engineering and Applied Sciences (SEAS).

To read more, Please visit Harvard university article link given below:

http://news.harvard.edu/gazette/story/2014/01/the-promise-of-big-data/