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Hackers, Thieves Love to Hate (Hack) Federal Entities As the wife of a retired military officer, I enjoy the benefits of terrific medical care, strong banking institutions, and much more. With that care, you would think that you’d also have the benefit of feeling sure that your identity is also secure. Not so. In fact, hackers, terrorists, and thieves all love to target federal institutions. It could be spite, it could be a game, it could be a national threat. No matter. Just because we use TriCare, USAA, and the VA does not mean we are protected from identity theft. Not by a long shot. <read article--Ora DeMorrow, Oct 2010>
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Understanding ID Theft: A decade ago, people thought nothing of sharing their Social Security numbers and personal information, and identity theft was seen as a rare occurrence. Now this debilitating crime has become a pandemic, and everyone must take action to put a protective wall around themselves. In this FREE WEBINAR, Silver Planet columnist Ora DeMorrow explained the primary ways that identity theft manifests itself in our daily lives and what the effects are. She also discussed the many types of services people should consider when determining how to get the best protection.
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Costs of Data Breaches Much Higher in U.S. Than in Other Countries, Study Says
Dark Reading (04/28/10) Wilson, Tim
Data breaches in the US could cost companies twice as much as they do countries with less stringent disclosure and notification laws, reports a Ponemon Institute study.
"The overarching conclusion from this study is the staggering impact that regulation has on escalating the cost of a data breach," says Ponemon chairman Larry Ponemon. The study examined breach costs in the United States, the United Kingdom, Germany, France, and Australia.
In the U.S., the cost per lost record was 43% higher than the global average. In Germany, where equivalent laws were passed in July 2009, costs were the second highest at 25% above the worldwide average. Australia, France, and the U.K., where data breach notification laws have yet to be introduced, all had costs below the world average.
The study's report says that a major reason for the high cost "is that U.S. companies are required to notify customers of their breaches, even if they only suspect that the customers' records might be affected." The notification requirements could be forcing some companies to disclose too much information too soon, Ponemon says. <read more>
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Nov 2010. In the United States, when a person thinks of an identity thief, the picture that immediately comes to mind is an illegal immigrant. Although this is a falsity, it is not altogether unfounded. First, let me make myself very clear: Identity thieves come in all shapes, sizes, colors, and nationalities. They could be your mother, brother, employee, or best friend. In pursuit of money, or “living large,” some people will do outlandish things without caring how it affects the lives of others. <Read Full Article> |
$217,000 Skimmed from ATMs The skimmer, which looks exactly like an ATM bank card reader, can be slipped over the ATM's regular card slot. Then, when a customer uses their bank card, the device records their banking information while still allowing the transaction to be conducted. The thieves were able to obtain customer PIN numbers using either a hidden, wireless mini-camera aimed at the ATM's keypad, or they placed a keypad overlay on top of the ATM's keypad to record the PIN numbers. The banking information was then re-encoded onto the magnetic strips of blank gift cards. Investigators report that the thefts occurred at four Bank of America branches in Suffolk County, N.Y. They estimate that between 100 and 200 accounts may have been cloned. There are six suspects in the theft ring and their photographs have been released to the press. <View Wall Street Journal Article> |
How the Digital World Exposes Us
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Managing Employee TheftEmployee theft poses a major problem for both large and small businesses, as theft is expected to rise due to the struggling economy. The U.S. Chamber of Commerce estimates that as many as 75% of employees would steal from their employer given the opportunity. Employee theft can be especially damaging to small businesses with fewer reserves, with employee theft playing a role in 33% of all business bankruptcies. To minimize the risk of employee theft, businesses need to implement systems that discourage fraud and theft. View Full Article Cyber Identity Thieves Can Get AnyoneWe use the Internet for everything. We shop, pay bills, work and play online. But the Internet has also become a playground for identity thieves. Criminals wait in cyberspace for the opportunity to steal your identity and commit crimes using your name. Read More |
