When you go online to bank, you probably assume the site – along with your transaction – is secure. However, a new report shows that your banking experience could be more vulnerable than you think.
Operation Emmental, cleverly named by Trend Micro to convey how full of holes online banking protections can be, is the latest threat affecting 34 banks and a yet-to-be-determined number of European consumers. While there has been considerable news coverage of this hacking scam in tech and cybersecurity circles, the story has not made it into the consciousness of mainstream America and probably wasn’t a topic of discussion at your dinner table last night. The article in the New York Times recently, “Hackers Find Way to Outwit Tough Security at Banking Sites” didn’t make the top 20 most read online articles while…
We deal with many cases of financial fraud and identity theft here at the Identity Theft Resource Center. Our full-time team of advisors provides phone support to callers with all kinds of stories. One type of fraud that is increasing in both frequency and severity is the sweetheart scam. A sweetheart scam happens when a criminal poses as a suitor who is romantically interested in the victim. As the online relationship progresses, the swindler begins to financially exploit the victim. In the past, criminals used personal ads and, with the invention of the Internet, email. Now, social networking and online dating sites are the platforms du jour.
The U.S. Department for Health and Human Services' Office for Civil Rights recently issued its annual report on data breaches that may have exposed protected health information, showing the number of people affected by data breaches has been on the rise. Between September 2009 and December 2012, the OCR received 720 breach reports that ultimately affected about 22.5 million people, according to the Annual Report to Congress on Breaches of Unsecured Protected Health Information.
The report also states that a greater number of the breaches have been from online hacks of Internet health websites rather than hacks through a stolen laptop or hard copies of documents from stolen boxes.
Risks of Noncompliance for Health Care Groups
Many smaller medical groups, such as clinics and hospitals, don't realize the significant penalties that come from noncompliance with federal data privacy and security regulations, said Ted Kobus, partner and co-leader…
The recent high profile breach that caused cloud based service provider Code Spaces to shutter its doors illustrates, in a very painful way, how a single compromised administrative credential can make incident response planning and preparation irrelevant.
Fifty-six percent of the malware discovered by the Solutionary Security Engineering Research Team (SERT) was found in the U.S. in the second quarter, according to the SERT Quarterly Threat Intelligence Report for Q2 2014. This is a 12 percent increase from the fourth quarter of 2013. Of the Internet service providers (ISPs) hosting malware, 10 of them hosted about half of all malicious software in Q2 2014. Forty-one percent of hosted malware came from the Amazon ISP.
U.S. Home to Majority of Malware
The U.S. continues be the major source of hacking software. This is due in part to the fact that Amazon hosts so much of the malware in existence, in addition to many of the top 10 ISPs at home in the U.S.
Smaller ISPs have also been targeted for hosting malware. Chad Kahl, a SERT analyst said that "jumping from ISP to ISP has…
Nearly every single organization in a study that looked at U.S. and European companies across several industries experienced at least one security breach, with many reporting more than one, according to IT security firm ForeScout's State of IT Cyberdefense Maturity Report. More than 96 percent of respondents experienced a security incident while 39 percent experienced between two and five, and about 16 percent experienced more than five.
The most common way that companies face an attempted data breach was via a phishing scam. Other issues stemmed from compliance policy violations and the unsanctioned use of devices or applications. Finally, a number of businesses reported that someone simply attempted an unauthorized data access.
Additionally, 40 percent of those surveyed said that keeping data secure became more difficult in the past two years.
Making Cybersecurity a Part of Due Diligence
With so many companies hacked, it becomes important to make cybersecurity a major part…
Small businesses make risky choices every day by gambling that their business will fly below the radar of cyber criminals and not become a target for data theft. Businessowners are misguided in thinking their business is too small and their data is not valuable enough to a hacker. (more…)
Identity theft is far more common than you may think. In fact, 16.6 million people experienced identity theft in 2012, according to the U.S. Bureau of Justice Statistics. That means 7 percent of everyone over the age of 16 has experienced identity theft. Protecting yourself from this crime is a serious matter.
Here are four reasons why you should protect yourself from identity theft:
Enjoy better credit and financial health. The expenses associated with identity theft are nothing to joke about. The total loss of money attributed to stolen identities amounted to $24.7 billion dollars in 2012, according to the BJS. Protecting yourself from data theft will keep your financial health secure and ensure that your credit history checks run smoothly every time.
Help keep your job opportunities secure. Employment background checks are a serious matter. Often companies will check your credit history as part of your…
There have been more incidents of identity theft from data breaches lately than ever before. In 2013, 61 percent of people who experienced a data breach also experienced a resulting incident of fraud, according to a new report by the National Consumers League. In 2010, that number was 1 in 9.
Identity Theft on the Rise, and Likely to Keep Rising
Additionally, identity theft is expected to continue growing. There have been 368 breaches so far this year, an increase of 19 percent year over year, according to the nonprofit Identity Theft Resource Center. Over 10 million personal records have thus been exposed to criminals in this year alone so far.
As more data is shared on the Internet, including financial information such as credit card numbers, more data is being stolen, according to IBISWorld. Point of sale machines are easy to use, but they are also…
There is a great deal of false information out there about data breaches, and yet it is imperative that a company knows as much as possible about this important liability.
Here are five common myths about data breaches that could put a business at risk:
1. Small Businesses Aren't in Danger
Small businesses are at risk for cyberattacks just like big companies, according to a 2013 study by Verizon. In fact, some cybercriminals prey upon small businesses exclusively because their lack of caution and proper security measures make them easy targets. Additionally, Visa said small businesses account for 95 percent of credit card breaches, The Wall Street Journal reported. One out of every 5 small businesses becomes a victim to cybercrime, according to IDT911's Knowledge Center. Of these small companies, 60 percent go out of business within six months.
2. Information Security and Information…