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Ron Arden Talks About Cyber Security on Panel at FinCyberSec 2016
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Fasoo talks about cyber security and protecting sensitive data in the finance industryRon Arden, Vice President and COO of Fasoo, Inc., participated in a panel discussion on cyber security priorities in the finance industry at FinCyberSec 2016 at Stevens Institute of Technology in Hoboken, NJ on June 1, 2016.  Ron was joined by Alan Brill, Senior Managing Director from Kroll, and Michael Frank, President of Secure Business Strategies.  The panel was moderated by Dr. Paul Rohmeyer, who organized the conference.

The first topic of discussion addressed the challenges of cyber security in the financial services industry.  Dr. Rohmeyer asked if there are unique priorities of CISOs who are operating in different industries or if they are similar?  Ron mentioned that people either want to disrupt operations or steal data when you experience a cyber security event.  Regardless of industry, the general goals are the same.  There are clearly unique processes in financial services that may not be in other industries, but the basics are the same.

Fix a Broken Chain of Custody with Confidential Data
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Fix a broken chain of custody of your confidential dataCompanies share a lot of confidential data with third parties.  Who is responsible for keeping that data secure?  Is it the originating company or the third party?  Or both?

This week American Express sent letters to card holders about a possible data breach.  According to reports “an unauthorized person or group accessed the system of a third-party service provider prompting American Express to warn customers that card member information may have been compromised.” The company said, “It is important to note that American Express owned or controlled systems were not compromised by this incident, and we are providing this notice to you as a precautionary measure.”  So is American Express to blame for this incident or is the service provider to blame?