Posts Tagged ‘banking’
Hacked Again: Citi Breach Exposes about 92K Japanese Customers
"The information that has been compromised includes account numbers, names, addresses, phone numbers, date of births, gender and the date the account was opened, and only affects CCJ cardholders," Citi says. "It has been confirmed that security information, including personal identification numbers and card security code (CVVs) has not been compromised."
Just over a month after Citigroup confirmed a breach of its online banking platform, a second breach affecting Citi customers has come to light.
On Aug. 7, The Japan Times reported that Citi on Friday confirmed a person involved with an outside business to which Citi Cards Japan Inc. outsourced part of its operations had allegedly stolen the card data and sold it to a third party. On Aug. 5, Citi Cards Japan, a Citigroup credit card division, issued a statement to confirm that personally identifiable information for 92,400 Citi Cards customers was suspected of being obtained and sold to a third party.
Read the rest of this story on BankInfoSecurity.com from August 8, 2011 - Tracy Kitten, Managing Editor
Securing Mobile and Cloud Computing
As we become more mobile in our computing activities from banking, shopping, working and education, cyber crime is also increasing and costing individuals and businesses billions of dollars each year. According to the DOJ, in the past two years, it is estimated that over 11.7 million Americans were victims of identity theft.
Even the FBI reports that "identity theft has emerged as a dominant and pervasive financial crime that exposes individuals and businesses to significant losses and undermines the credibility and operation of the entire U.S. financial system."
[caption id="attachment_1285" align="alignright" width="361" caption="BSI authenticates the WHO before granting access"][/caption]
One of the reasons this is happening is the security and management, rather lack of management, of passwords by only requiring a single layer to protect data which makes it very easy for cyber criminals to gain access to systems and devices. The White House has created a new program, National Strategy for Trusted Identities in Cyberspace (NSTIC), where they are working to create an Identity Ecosystem which will utilize trusted credentials to prove the identity of the person gaining access.
Creating a secure environment for protecting data ...
Meet New FFIEC Requirements
The Federal Financial Institutions Examination Council (FFIEC) released a supplement (June 28, 2011) to their authentication in an Internet banking environment guidance which was previously issued in 2005.
According to the FFEIC, need for this update is due to the the growth and sophistication of attacks from hackers which have increased the risks for financial institutions and their customers resulting in substantial losses. The FFEIC is calling for increased, effective security for financial institutions to safeguard customer information, reduce fraud from identity theft, and promote the legal enforceability of financial institutions' electronic agreements and transactions.
The purpose of this supplement was to reinforce the risk-management technology framework and to provide customer authentication via layered security (Multi-Factor Authentication: MFA) that should exceed controls applicable to routine business customer uses i.e. transaction verification or additional authentication prior to gaining access.
Biometric Signature ID Patented Solutions Exceed Requirements
[caption id="attachment_1268" align="aligncenter" width="638" caption="BSI Exceeds Government MFA Requirements "][/caption]
Want to find out more about BSI solutions for your organization? You can test drive BioSig-ID™ today by clicking here or contact us today for a live demo by
Michaels Breach Bigger than Reported
Michael Stores initially reported that a scheme, in which point-of-sale pads customers use to key in their personal identification numbers, was isolated to Chicago, but on Tuesday the arts and crafts supplies retailer issued a statement that said nearly 90 stores in 20 states, stretching from Rhode Island to Washington, were affected.
The breach was first linked to a select group of Chicagoans who reported dings to bank accounts after their debit cards were allegedly copied during recent transactions at area Michaels craft stores. The Secret Service is investigating. Investigators believe legitimate PIN pads were traded or swapped out for PIN pads that skim and collect card details.
As a precautionary measure, Michaels has removed some 7,200 PIN pads from most of its 964 U.S. stores and expects replacements to be completed within the next 15 days. As a precautionary measure, PIN pads in Michaels Canadian locations are being screened as well.
Read the rest of this story here from Tracy Kitten, Managing Editor, Banking InfoSecurity May 12th 2011.
China Implicated In Hacking Of SMB Online Bank Accounts
FBI warns that small to midsize businesses are being targeted in an attack that so far has bilked companies' accounts of millions of dollars and wired the money to Chinese companies
This time it wasn't an "advanced persistent threat" associated with China: Instead, a fraud alert issued by the FBI today implicates China in a cybercrime operation that bilked U.S.-based small to midsize businesses of $11 million during the past year.
The FBI warned that it has identified 20 incidents in which SMBs' online banking credentials were stolen and their bank accounts siphoned, with the money wired to China-based economic and trade companies near the Russia border. The attackers attempted to steal some $20 million overall during the March 2010 and April 2011 time frame.
Read the rest of this article posted on Darkreading on Apr 26, 2011 By Kelly Jackson Higgins
Industry Use Cases
Securing Mobile and Cloud ComputingAs we become more mobile in our computing activities from banking, shopping, working and ...
Meet New FFIEC RequirementsThe Federal Financial Institutions Examination Council (FFIEC) released a supplement (June 28, 2011) to ...
Latest News
-
More coursework to fight academic fraud?
According to the National Association of Student Financial Aid Administrators, the rate of improper payments of Pell Grants is down, from 3.12% in 2010 to ... -
New Study from ID Analytics Shows over 2.5 Million Deceased Identities Fraudulently Being Used
The identities of nearly 2.5 million deceased Americans are used improperly to apply for credit products and services each year, according to a new study released today from ID Analytics'
