Blog Posts Tagged with "Banking"

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Bank of America's $10 Million Dollar Breach Loss

May 25, 2011 Added by:Headlines

"It's a huge issue for all types of consumer information that is stored, and it's being heavily targeted by all kinds of breaches. Organized crime either had an employee planted or reached out to an employee and got them in on the hack. We're seeing this more and more..."

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Sunspot Financial Malware Targeting Windows Systems

May 13, 2011 Added by:Headlines

"Sunspot was not originally developed as crimeware... We could be witnessing a sea change in malware development where general purpose and little know malware platforms are re-programmed to carry out financial fraud. This will make it even more difficult to defend against..."

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FBI: Stolen Identities Used to Establish Lines of Credit

May 10, 2011 Added by:Headlines

An identity theft scheme defrauded banks out of more than $3 million by obtaining stolen personal information, including dates of birth, Social Security numbers, credit profiles, FICO scores, and driver’s license numbers to complete fraudulent applications for business lines of credit...

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Mobile Banking Becoming an E-Commerce Staple

April 29, 2011 Added by:Robert Siciliano

Enhanced security with SMS transaction notifications and the ability to turn card accounts on or off, and new technologies like mobile check deposit, in which you simply take a cell phone picture of the check, are contributing to the increasing popularity of mobile banking...

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How to Scam $8 Million Dollars in Three Easy Steps

April 06, 2011 Added by:Headlines

“What's most frightening is the fact that this isn't just an unknowing private citizen being duped by a phony Facebook friend. This is a multibillion dollar corporation that clearly did not do its homework," said Paul Henry, a forensics and security analyst at Lumension...

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Banks Need You to Be Responsibly Secure

March 27, 2011 Added by:Robert Siciliano

It has become apparent that the conveniences of technology have outpaced consumers’ security intelligence. It is possible to secure systems in a way that will defeat most criminal activity, but that level of security comes with inconveniences that the consumer may not be equipped to handle...

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Zeus Trojan Migrates to Blackberry OS

March 07, 2011 Added by:Headlines

The malware allows remote access of infected Blackberry devices by the attacker, who can then change the SMS message default number, add a new device administrator, control blocked call lists, and even turn the device on and off...

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OddJob Trojan Prevents Online Banking Session Termination

February 23, 2011 Added by:Headlines

"Another interesting feature of OddJob, which makes it stand out from the malware crowd, is its ability to bypass the logout request of a user to terminate their online session... the legitimate user thinks they have logged out, when in fact the fraudsters remain connected..."

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Preventing Online Fraud: Assumptions versus Awareness

February 22, 2011 Added by:Katie Weaver-Johnson

Experts (and vendors) are recommending banks increase their security measures and implement expensive fraud detection solutions. Unfortunately this is merely reacting to a symptom rather than preventing the problem. The root of the problem is uneducated consumers and lack of situational awareness...

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ATM Card Skimmers Found on Key Card Door Locks

January 31, 2011 Added by:Headlines

"The thieves remove the card swipe device attached to the outside door, add a skimmer, and then reattach the device to the door. The attackers then place a hidden camera just above or beside the ATM, so that the camera is angled to record unsuspecting customers entering their PINs..."

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New Fake ATM Keypads Extremely Difficult to Detect

January 06, 2011 Added by:Headlines

With the new fake ATM keypads, the time between skimming and cashing-in is reduced significantly. The mock keypads are nearly undetectable to the lay person, and transmit PIN data in real time, along with the skimmed card information. Criminals can then immediately begin stealing cash directly from accounts...

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Banks Lax on Authentication and Transaction Security

January 03, 2011 Added by:Headlines

Complicating matters for banking customers who find themselves victims of breached accounts is that banks are only required to maintain "sufficient" standards of security, a moving target based on the average level of security employed by the industry as a whole, as far as legal liability is concerned...

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Cyber Criminals Target Home Equity Lines of Credit

January 02, 2011 Added by:Headlines

It is possible that courts could hold banking clients responsible for losses if they deem the bank's security measures were on par with the industry average, even if that average standard is woefully inadequate to secure funds...

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Report: Identity Theft Dings U.S. Victims for $17 Billion

December 16, 2010 Added by:Headlines

The total cost to U.S. victims of identity theft is estimated to be a staggering $17 Billion dollars, according to a report issued by The Bureau of Justice Statistics (BJS). The monumental sum includes direct losses to fraudsters and out-of-pocket costs in the aftermath of an incident...

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Zeus Trojan Tweaked to Pilfer Business Bank Accounts

December 06, 2010 Added by:Headlines

The nefarious Zeus Trojan has been modified to target enterprise bank accounts. Zeus had previously netted millions of dollars after spreading through tainted emails and communications designed to look like messages from the popular business-oriented social networking service LinkedIn...

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Who Is Responsible In A Breach?

November 19, 2010 Added by:PCI Guru

Unfortunately, the card brands have not helped the situation. The card brands approach to breaches boarders on childlike. In their view, it is everyone’s fault – the organization that was breached, the QSA, anyone except, of course, the card brands...

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