I received an email from John Zurawski at Authentify that I thought was worth posting. I personally am tired of bailing out the banks and continuing to spend tax payer money so I want to ask Congress to Step Up, start using our money for things that matter, and start to protect the end user’s by requiring the banks that don’t properly implement security controls to pay. John asked in his email for me to repost his email and ask others for help. Read below and if you are heading to RSA stop by the booth and sign the petition if you agree.
I’m emailing to ask for your help in something that can make a difference at the RSA Conference. In recent months it’s become apparent that many smaller banks, credit unions and ultimately small businesses are being victimized by organized cyber criminals. We at Authentify, along with many others, believe it’s time to stop the bleeding. The regulatory oversight of the financial services industry has plenty of “guidance”, but few actual requirements to protect their customers from sophisticated online criminals. The breaking point has come with a bank suing it’s customer for being a “cyber-victim” and asking the courts to declare its security procedures as “commercially reasonable”. The technologies exist to prevent most malware inflicted financial losses. It’s time to get Congress to get involved. Just as the federal government is making funds available to healthcare to get health records digitized and online, it’s time to use TARP funds or other sources – to REQUIRE that financial services firms protect their customers.
Authentify will be seeking signatures on a petition to Congress in its booth at the RSA Conference next week. We have put this effort ahead of our new product introductions and other RSA promotions. Please stop by Booth #732 on the Expo floor if you believe it’s never commercially reasonable to let a bank’s customer’s be victimized by malware.
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