Blog

  • Preparing for the worst through employee training

    Given the recent headlines from Jason Rodriguez, personnel or ex-personnel committing murders by gunning down fellow employees, how can your emergency plan be prepared? The Army can’t protect itself from a high ranking officer, who decides to go on a shooting spree. How does a company plan for an ex-employee, who was fired two years ago, to come back and shoot at random people in the office. Does your emergency plan include mock scenarios of anything similar? How can we plan for something as horrific as this? Unfortunately we have to plan for the worse, it is better to be prepared than not.

    (more…)
  • Observations from BarcampBank Chicago

    Last Friday, I attended my fourth BarcampBank. It was in a suburban area of Chicago (Naperville) and the event was located at the Illnois Credit Union League offices. It is always interesting to see the slight differences in how these events come to life but this event, for me, didn’t disappoint. There were about twenty participants for the day and everyone else was new to the whole Barcamp vibe and experience.

    (more…)
  • Find how many subnets? OMG! How?

    As technology folks, we like to get technical (read: geeky) from time to time. If you’re like us, this is the post for you. WARNING: Heavy technical speak ahead.

    (more…)
  • Finance firms to spend bilions on risk management – survey

    08 February, 2010 – 10:59

    Finance firms to spend bilions on risk management – survey

    The top 100 financial institutions will spend over $100 billion a year implementing risk governance frameworks by 2012, according to research from business advisory firm Deloitte.

    81 views 0 comments
    This is more than double the figure they spent on risk and control activities in 2006, the last full year before the financial crisis, says Deloitte, which surveyed chief risk officers (CROs) or equivalents at 28 financial institutions, including investment and retail banks and insurers.

    Most respondents expect spending on risk and compliance to continue to rise and say much of it is a direct result of the global financial crisis. Money is being spent on people, computer systems and meeting Basel II and Solvency II capital standards.

    However, despite the growing financial investment in risk governance Deloitte believes the success of such expenditure hinges on a corresponding behavioural change in risk culture.

    While 93% of the CROs surveyed say their firms have comprehensive enterprise-wide risk statements in place, only 67% suggest these are having a significant impact on risk taking behaviour.

    Martyn Jones, chairman, corporate governance services group, Deloitte, says: “It is clear that financial institutions are investing more heavily in risk management, but some are struggling with the integration. The fundamental issue is around behavioural changes – without changes in attitudes and behaviour no framework will be truly effective.

    In October a report by financial regulatory agencies warned that firms need to make substantial and sustained investments in IT infrastructure if they are to overcome severe underlying weaknesses in their risk management capabilities.

    The Senior Supervisors Group that comprises watchdogs from seven countries (US, Canada, France, Germany, Japan, Switzerland, UK) observed that underlying weaknesses in governance, incentive structures, information technology infrastructure and internal controls would require need to be overhauled.

  • 2009 Bank Failures Visualized

    I’m completely a visual type of person. I really enjoyed this infographic data from Focus.com.

    (more…)
  • Future of Payments – Square

    If you haven’t heard by now, there’s a new application being launched by Jack Dorsey, who originally founded Twitter, called Square. It’s an iPhone based payments app that allows credit card processing. Here’s a demo by Kevin Rose showing off the product. Enjoy.

    (more…)
  • The Balancing Act of USB Mass Storage Drives!

    usb-storage

    USB flash drives are a very important part of our day-to-day activities. When a network is down, it provides an alternate method to copy/exchange files between computers. But in the strange world we live in, there is something dark underneath in any great invention, and there is no difference here. The great USB memory stick can be used by bad guys & gals for abusive practices. Not only is your network security at risk here, but your private or sensitive data can simply vanish out of your well protected private network to the wild world out there; who knows how it is going be used. Look at it this way, even if I am an employee of the institution, I can simply bring a contaminated USB memory stick and plug it into my network connected PC, and soon enough, the potential that the whole network could be infected with virus, worms or other unwanted malware skyrockets. The funny thing here is that the user may not be aware of what has happened here. Also, if the user is a bad person then on the way home he/she can take a copy of your highly guarded financial data!

    The risks are enormous here, but we need to have a great balancing act between business needs and security, as both go hand-in-hand. In my opinion, the strategy should be based on one of the basic security principles; users should be given authorizations to services such as USB drives, CD/DVD, registry access etc. based on business needs as well as on the least privilege principle. This way you can minimize the potential security risks and continue to keep your business safe from intrusion!

    (more…)
  • Is Your Website Safe From Hackers?

    hacker hit

    Attacks. There are many attacks out there, but one of them stands out as it become very popular among the hacker community. Most hackers gain unauthorized access to websites and break into back-end databases through this attack; the SQL injection attack. This attack can happen when the sloppy web designer releases a webpage with an input text box without checking the proper input parameter validation. An attacker can send and execute SQL commands through input text boxes and gain the access to the back-end database. In online banking websites, there are so many input text boxes starting with the sign-up, sign-in, customer comments, and inside account pages. There should be a code behind all of these text boxes to check proper parameter validation to ensure that the input text does not have any type of SQL commands or parameters embedded in. I have seen so many log-in pages with userid and password boxes that are not validated for proper parameters mentioned above. A bad guy can get unauthorized access and download the entire database. There is a lot of information out there about SQL injection attacks; you can learn and take precautions as to not become a victim of this. The following are some of the things that you could take as precautions:

    • Sanitized the input data. For an example, if the text box is expecting a number, do not allow the user to enter text, vise-versa. Scan the input data through the code to filter out any SQL commands and parameters.
    • Again validate the data before executing the back end SQL query to ensure there are no embedded commands in the SQL query variables.
    • Encrypt the data such as userId and passwords so hacker can not access them to gain access to the site and the back-end database.
    • Ensure that the account setup to execute the back-end database is setup based on least privileges. Not only this account, all user and application accounts should be based on least privileges.
    • Ensure all error messages are very generic and do not give any clues to the attacker unnecessary information that can be used to brake in to your website.
    (more…)
  • Virtualization? Why Not!

    virtualize

    Well, I’ll tell you. Let me start by saying I do think the overall benefits of Virtualization heavily outweigh the risks.
    Since I don’t want this to be a doom and gloom blog, I’ll start with the positives of Virtualization.

    • Less hardware costs for servers and maintenance, but routers and switches too with VLANing.
    • Saving valuable physical space in server rooms.
    • Going green with energy consumption and generator/battery backups.
    • Normalizing platforms across multiple systems.
    • Agility in an environment. Imagine if you had a server crash, you can just boot up a Virtual Machine and like that you are good to go!
    • Saving money in licensing. I’m not an expert at all on licensing, but I know vendors have laxed on licensing because they are real sure how to manage it with virtualization.

    Now, I’ll focus more on the potential risks of Virtualization because they aren’t discussed as much as the benefits, and we are security people…it’s what we do!

    (more…)
  • Finovate Video is Up!

    The videos for the FinovateSpring conference have been posted and are now up. We prepared close to 10 hours for this seven minutes and based off audience, they really liked what we did. Thanks to Jim Bruene and Eric Mattson again for the opportunity!

    (more…)