A U.S.-based hacker just pleaded guilty to stealing more than 675,000 credit cards that led to more than $36 million in fraud. "These SQL injections are allowing someone in through the side fence, not the front door," says information security attorney Randy Sabett.
Online security has come a long way in recent years, but so have phishing attacks. As the Epsilon e-mail breach proves, fraudsters are honing their attacks through the acquisition detailed e-mail profiles and sensitive information connections, says ID security expert Tim Rohrbaugh.
"The phishing only works if the consumer participates; they have to click on something; they have to open something," says Neal O'Farrell of the Identity Theft Council. "So, based on that assumption, shouldn't we be doing more to educate them?"
Gigi Hyland of the NCUA says the latest draft of online authentication guidance is awaiting final signoff from just one FFIEC member agency. And Verizon's new data breach report finds that compromised records resulting from data breaches dropped dramatically in 2010, but the number of breaches continues to grow.
SWIFT says globalization, regulation and the introduction of new services from non-financial providers will set the tone for 2011. But increasing transaction volume and the convergence of payment technologies from differing global markets also pose their own challenges.
While the cause of the Epsilon e-mail breach has not been publicly disclosed, the incident's aftermath has seen a growing list of organizations impacted by the breach. It also has ignited a new debate about the sensitivity of e-mail addresses.
Verizon's newly-released 2011 Data Breach Investigations Report finds that the number of compromised records has dropped dramatically, but incidents are up, and hackers are still finding new ways to get into systems and servers.
The latest Verizon Data Breach Investigations Report is out, and the good news is: The number of compromised records is down. The troubling news is: The number of breaches is up. Bryan Sartin, one of the report authors, explains why.
As details about the Epsilon e-mail breach unfold, the list of affected companies grows, including major banks and merchants. Here is the latest list of the companies known to have been impacted by the incident.
Gigi Hyland, board member of the National Credit Union Administration, says the latest draft of authentication guidance is awaiting final signoff from just one member agency of the Federal Financial Institutions Examination Council.
It's been over three months since the accidental disclosure. When will the final FFIEC authentication update be released? "I don't think we're any less safe," says Gartner's Avivah Litan. "We just need to step up enforcements."
Payment card fraud. ACH and wire transfers. ATM skimming. And especially insider crimes. These are among today's top information security threats to institutions, says banking regulator Gigi Hyland in an exclusive interview.