Authorities charged Ryan Cleary with distributed denial of service attacks on a British law enforcement agency that LulzSec claimed it hacked on Monday. Police also charged the suspect with attacks claimed by the group Anonymous against two music industry sites last fall.
Sen. Robert Menendez says regulators should have the power to compel banks to toughen IT security and offer timely customer notification of a breach. But if they don't, the Banking Committee member says in an interview, they should come to Congress to get that authority.
The arrest followed an investigation into network intrusions and distributed denial of service attacks against a number of international business and intelligence agencies by what is believed to be the same hacking group.
Online and mobile banking are taking the world by storm - especially in the Asia-Pacific region. But many institutions are simply not prepared to manage security and privacy appropriately in these venues, says Gartner's Matthew Cheung.
Card-skimming trends continue to pose a threat to financial institutions and retail outlets, but there are steps organizations can take to fight back, says John Pearce, director of financial services for ADT Security Services.
State and federal banking regulators closed two banks on Friday, June 17. These actions raise the year's total number of failed institutions to 61 banks and credit unions that have closed, been acquired or placed into conservatorship.
No one is really sure when the FFIEC's new authentication guidance will be issued, but we do know banking institutions can't afford to wait. Hence, our new FFIEC Authentication Guidance Resource Center.
"Overall, this draft is not balanced," Rep. Henry Waxman, D-Calif., said at a hearing on the measure "It gives businesses too many protections and consumers not enough. It preempts strong state laws and replaces them with a weak federal one."
Recent hacks have uncovered security vulnerabilities that should have been addressed years ago. "These attacks are going to escalate," says Josh Corman of The 451 Group. But organizations can implement basic steps to make the hackers' job harder.
Senate Sergeant at Arms confirms the attack occurred over the weekend and has ordered a review of all Senate computer sites. Hackers' cryptic message suggests they don't like military's intent to use force to combat cyberattacks.