With identity theft topping the Federal Trade Commission's list of US consumers complaints, the release of a new report issued by a leading consumer advocacy group that puts a price tag of more than $7 billion on the cost of cybercrime to the US consumers is not a surprise to many familiar with the identity theft...
How would your employees respond to a phishing email? Would they immediately forward it to your information security officer, or would they shrug it off and hit the delete key? What if they receive a call or voice message from someone asking for what (at the time) seems to be innocuous information on a customer? Have...
Employees play an integral role in protecting the assets of an institution, and as such, need to be adequately trained and made aware of the basic security practices which are frequently overlooked. A set-it and forget-it approach "we're protected because we have a firewall" to information security ignores end-users,...
It’s often said that the biggest problem with information security is the space that is filled between the chair and the keyboard. While many of us in information security at financial institutions will shake our heads in agreement with that statement, the need for education of our customers is a pressing issue.
When it comes to phishing, the smaller institutions out there that aren’t prepared for a phishing attack to hit their brands are playing “Russian Roulette†with their brand and reputation, says one leading security solutions firm.
“Smaller institutions should not be complacent. Brand and...
The Federal Trade Commission’s second summit on Spam in the last four years addressed the growing problem of unsolicited emails that is creating costs for businesses and consumers alike.
FTC Chairman Deborah Platt Majoras addressed the summit held July 11-12 in Washington, D.C. “The volume of spam...
With the recently discovered “plug and play†phishing kit, a relatively “non-technical†person with the right information could launch a phishing attack against any financial institution.
Research from McAfee’s Avert Labs shows threats including phishing web sites are on the rise, as expected. But other pests such as remote-controlled bots show unpredicted signs of decrease.
A new study details the psychological games and other tactics cyber criminals use in social engineering scams propagated through junk email. In a recently released study titled "Mind Games," Dr. James Blascovich, Professor of Psychology at the University of California,
Are you a trusting person? When dealing with people you don't know, don't give them sensitive information unless you're sure who they are, and can prove that they are who they say they are. You'll want to ask yourself if they should have access to the information.
It’s going to be a long hot summer for many U.S. financial institutions when it comes to online attacks. The RSA’s Anti-Fraud Command Center issued its monthly online fraud intelligence report for May, and the statistics point to attacks on U.S. nationwide banks account for 33 percent of all attacks on...
As with any information security threat, your institution needs to plan for them, and social engineering from outside of your institution needs to be expected.
A financial institution's customers don't always know what's available to them. Your job is to help them. Did you know that everyone is entitled to receive one free credit file disclosure every 12 months from each of the nationwide consumer credit reporting companies - Equifax, Experian and TransUnion. This once a...
When it comes to cracking into computers and networks, one of the most indispensable tools is “social engineering†and it has little to do with modern computing technologies. In the popular lexicon that predates today's computing technologies, a social engineer might have been called a flimflam man,...
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