Cyber spies in China are suspected of launching an attack against a NATO senior military commander, U.S. Admiral James Stavridis, using a Facebook scam to gather information about Stavridis from his friends and colleagues, according to U.K. newspaper reports.
Chinese police have detained four people and punished eight after the personal information of 6 million users was leaked following a data breach of the China Software Developer Network, the country's largest programmers' website.
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.
Social media, mobility and cloud computing are new areas of risk for organizations, and risk managers need to go back to the fundamentals of understanding the information they are protecting, says Robert Stroud, ISACA's international vice president.
Fraud attempts will escalate, not diminish, as new threats and channels blossom in 2011. Growth in mobile banking and the use of social networks are expected to pose new security challenges, experts say.