The problems going on with ChoicePoint and Bank of America are just the tip of the iceberg if you ask Robert Chastain, general counsel of Ceeva Inc., whom I spoke with last week. His firm, a systems integrator and compliance auditor, was hired last year by a nonprofit group to do surveys assessing compliance with the federal law designed to protect consumers from identity theft. (CPA firms, tax preparers, and similar businesses all must comply, regardless of their size.)
"We found 90% noncompliance in every industry we surveyed," he said. "One large regional investment firm we surveyed used 'Password' for the password on every computer in the office. So you have as much to fear from your own accountant or investment adviser as you do from ChoicePoint."
Here are other good questions posed by Ken Casey, senior VP of retail banking at ATB Financial (see story, "Data In Peril"). "Are we doing anything that could compromise the security of customer data? What steps have we taken, and is there anything else we can do?"
5 Top Federal Initiatives For 2015As InformationWeek Government readers were busy firming up their fiscal year 2015 budgets, we asked them to rate more than 30 IT initiatives in terms of importance and current leadership focus. No surprise, among more than 30 options, security is No. 1. After that, things get less predictable.
Top IT Trends to Watch in Financial ServicesIT pros at banks, investment houses, insurance companies, and other financial services organizations are focused on a range of issues, from peer-to-peer lending to cybersecurity to performance, agility, and compliance. It all matters.
Join us for a roundup of the top stories on InformationWeek.com for the week of October 9, 2016. We'll be talking with the InformationWeek.com editors and correspondents who brought you the top stories of the week to get the "story behind the story."