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.
TJX. Hannaford. Heartland. Those are the names we all know, the famous fraud stories we all can recite by heart.
But who knows about Unique Industrial Product Co., a Sugar Land, Tex.-based company that lost $1.2 million to fraudsters this last April?
I got a call recently from a friend of mine (let's call her Sally) who is a fraud expert in the financial services industry. She had just heard from her bank, US Bank, asking if she'd been to Orlando recently. She responded no, she hadn't (It is never a good thing when your bank asks if you've been somewhere you...
Well, it is good to finally have a number to go along with the Heartland Payment Systems data breach, and even better that three hackers have been indicted for the crime. Albert Gonzalez, a 28- year-old identified as the lead hacker, faces up to 25 years in prison and a $250,000 fine if convicted.
Robberies, ATM heists, insider thefts - there are so many risks to employees, customers, funds and electronic data, and they're only heightened by economic conditions. Desperate times, desperate people. This is why we focus on physical security this month - to underscore how critical it is to a banking...
This one was almost predictable.
We were just days away from Aug. 1, the date after which the Federal Trade Commission (FTC) would start enforcing compliance with the Identity Theft Red Flags Rule.
Then came the announcement from the FTC that it's going to extend the deadline. Again.
If there's one thing I've learned about information security professionals, it's that they come in multiple flavors.
Yet, increasingly today, you want people who can run security like a business, feel comfortable in maintaining a seat at the table and are willing to work with changing governance
Looking for summer reading?
Just finished a new book, "Late Edition," by one of my favorite writers, Bob Greene. This is a touching, often funny memoir of Greene's days as a newspaper rookie in Columbus, Ohio in the 1960s.
Financial institutions must execute best practices internally and do a better job educating their customers on identity theft.
This is the advice stemming from the Identity Theft Resource Center (ITRC), which recently released its sixth annual report, Identity Theft: The Aftermath 2008, providing essential...
As I listened to Bernie Madoff get his prison sentence meted out to him by Judge Denny Chin, I felt some tinge of vindication. But not having been directly affected by the largest Ponzi scheme in history, I can't imagine what the more than 1,000 victims of his unprecedented crime felt at that same time.