Trojans. Harvesters. Mules. They're the backbone of the underground fraud economy, which is "vibrant" and worth billions, according to one international researcher.
And don't be swayed into a false sense of security by the recent indictment of Albert Gonzalez, who is charged with masterminding the Heartland Payment...
Preliminary legal hearings have begun in the class action suit against Heartland Payment Systems, the U.S.-based payments processor that was breached in 2008
More than 30 financial institutions from 22 states have joined the lawsuit against Heartland, which is the largest data breach on record, with a reported 130...
Massachusetts-based retailer TJX says it has agreed to pay $525,000 to settle a putative class action suit from several banks related to the massive security breach that resulted in the theft of more than 45 million credit and debit card numbers.
As summer draws to an end, schools reopen and Labor Day arrives, there's something else that everyone is looking to return: the H1N1 flu virus. U.S. organizations handled the so-called swine flu virus spread in the spring, but now is the time to ask: Are you and your staff ready for its return?
Prosecutors in New York City have indicted five men from Eastern Europe in a wide-ranging credit card fraud operation that allowed the accused to gain more than $4 million from 95,000 stolen credit card numbers.
Sitting here on the cusp of the Labor Day weekend, and I'm thinking ahead to what I believe will be the big stories - of interest to us in banking/security, at least -- in the final quarter of 2009. Here, in no special order, are my top three...
The targets are getting bigger, the fraudsters bolder, and we all have a whole lot more at stake to lose.
This is the message from Mary Monahan, Managing Partner and Research Director at Javelin Strategy & Research. In a discussion of current data breach trends, Monahan touches upon:
How breaches in 2009 are...
Skimming - point-of-sale attacks at ATMs and sales terminals -- hurts everyone, including banks, retailers and their customers. And the PCI Security Standards Council is fighting the crime with a new set of best practices for skimming prevention.
Last week's alerts about online crime against small and mid-sized companies is a signal to financial institutions that it's time to take an even more aggressive approach to fraud monitoring and prevention. Which is exactly what one state banking association is doing.
There have been 356 data breaches so far in 2009, according to the Identity Theft Resource Center (ITRC). And 46 of those breaches have involved financial institutions - up from 34 at this same time last year.
In reviewing these 46 incidents (see interactive map w/details of each breach), one finds goods news and...
Albert Gonzalez - the hacker accused of breaching Heartland Payment Systems - agreed Friday to plead guilty to conspiracy, wire fraud and aggravated identity theft in another high-profile case, the 2005 breach of TJX and other retailers. He will formally make his plea on Sept. 11.
The FDIC has warned banks: Online crime is increasingly hitting small and mid-size companies in the U.S., draining those entities' bank accounts through fraudulent transfers.
So, how should banks respond to this alert and assist their business customers?
Doug Johnson of the American Bankers Association...