What fraud and security issues does Paul Smocer, the new president of BITS, see as being top concerns in the coming year? Mobile payments, social media, and a strong need for institutions and organizations to comply with existing guidance top the list.
Instead of sabotage, as Stuxnet was used on Iranian nuclear centrifuges, Duqu is designed to gather intelligence that could help attackers mount a future digital assault on industrial control facilities.
A Pasco County, Fla., man has been charged for his involvement in a summer skimming spree that targeted Bank of America ATMs. Why do authorities believe he likely has connections to an international crime ring?
"This guidance ... will allow the market to evaluate companies in part based on their ability to keep their networks secure," Sen. Jay Rockefeller says. "We want an informed market and informed consumers, and this is how we do it."
A class action lawsuit is seeking $4.9 billion in damages as a result of alleged privacy violations stemming from a recent health information breach affecting beneficiaries of the TRICARE military health program.
While a presidential advisory council wants to move forward quickly with using metadata tags within electronic health records, such as to indicate patient privacy preferences, another federal advisory panel is saying "not so fast."
Skimming incidents at bank branch ATMs and vestibules are adding up to huge losses. One bank says it could easily lose $50,000 over one weekend at a single ATM. So, what can institutions do to deter and detect skimmers?
"Given that the data tested against our network consisted of sign-in ID-password pairs, and that the overwhelming majority of the pairs resulted in failed matching attempts, it is likely the data came from another source and not from our networks," says CISO Phillip Reitinger.
These arrests also highlight the U.S. vulnerability to crimes involving payment cards with magnetic stripes. "The U.S. is a criminal's playground right now," says John Buzzard of FICO Card Alert Service.