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Los Angeles, CA, United States, 2012/02/24 - ISSA-LA has launched an information security education program for executives and customers of financial services companies, specifically banks - ISSALA.org.
The Los Angeles Chapter of the Information Systems Security Association (ISSA-LA) has launched an information security education program for executives and customers of financial services companies, specifically banks.
“In response to the rapid rise of cybercrime, ISSA-LA has embarked on an aggressive campaign to raise awareness among institutional executives on the steps they can take to more safely conduct online banking, ,” said ISSA-LA President Stan Stahl, PhD. “We will work with financial institutions, helping them educate their customers about the dangers of online bank fraud and the steps to take to more effectively secure their online banking. Financial service companies are a natural partner for ISSA-LA because of the way online bank fraud can poison the banking relationship, resulting in the loss of trust, reputation, money and customers.”
Financial institutions have a lot at stake in combatting cybercrime. Recent court decisions, such as Experi-Metal vs Comerica, have held a financial institution liable for online bank fraud losses, even when the loss of money has been the result of a customer’s account having been compromised. In a recent survey of 100 bank executives from over 50 US financial institutions, 74% said that their customers would change financial institutions for better security.
Cyberspies and criminals steal billions of dollars each year. Federal regulators are taking seriously the growing number of ACH- and wire-related fraud incidents that have targeted more and more small business customers. The Federal Financial Institutions Examination Council's online authentication guidance advises banking institutions to do more to educate account holders — particularly businesses — about the risks involved in banking online.
To mitigate the proliferation of cybercrime in the Greater Los Angeles area, ISSA-LA has designed a program to educate business executives, employees, shareholders and customers of financial services companies on how to better protect sensitive information, including online bank account information.
Dr. Stahl is a pioneer in the field of information security, having entered the field in 1980. He began his career securing teleconferencing at the White House, databases inside Cheyenne Mountain and the communications network controlling our nuclear weapons arsenal.
The Information Systems Security Association of Los Angeles (ISSA-LA) is a not-for-profit and founding chapter of an international organization of information security professionals and practitioners. For 27 years, ISSA-LA has been providing educational forums, publications and peer interaction opportunities that enhance the knowledge, skill and professional growth of our members.
Information Systems Security Association of LA Launches Online Bank Fraud Education Program
Outreach Program Designed to Educate Customers of Financial Institutions