Karl Finders reports: A crackdown on businesses which will make it mandatory to report security breaches will have little impact on UK banks, according to the British Bankers Association (BBA). Speaking at the BBA’s Data Protection and Privacy Conference, Viviane Reding, vice-president of the European Commission, said new rules will be implemented in Europe forcing businesses to…
Category: Financial Sector
Executive Learns From Hack
Evan Ramstad reports about the lessons learned by one executive after the Hyundai Capital Services hack: … His biggest mistake, he says, was that he used to treat the information-technology department as simply one of many units that helped the company get its main job done. Today he treats it as central to everything the company…
AZ: Lending Company security breach may be inside job
Melissa Ziedy reports: Investigators now believe the security breach at major Phoenix mortgage company could be an inside job. A police report obtained by CBS 5 News details how last month officials at the Lending Company in north Phoenix contacted detectives. One of its managers had reported seeing a computer transferring customer’s personal information to…
Citigroup reveals breach affected over 360,000 cards (updated)
John Ribeiro reports that Citigroup has updated its initial statement about its breach. Their updated statement is likely to fuel debate about time frames for disclosing breaches. It now seems that over 360,083 credit card accounts in North America were accessed by the hacker(s) during the compromise of its card account management website in May….
The Ingenious Infiltration of Citigroup
John Hudson writes: An IT expert speaking with The New York Times called it a Mission Impossible-like operation. Last month, a team of unidentified hackers accessed information to 200,000 Citigroup bank accounts by simply waltzing through the “front door” of Citigroup’s customer website. The bank came under fire last week for waiting nearly a month before notifying customers…
Revealed: How Citigroup hackers broke in ‘through the front door’ using bank’s website
Lee Moran reports: Hackers who stole the personal details of more than 200,000 Citigroup customers ‘broke in through the front door’ using an extremely simple technique. It has been called ‘one of the most brazen bank hacking attacks’ in recent years. And for the first time it has been revealed how the sophisticated cyber criminals…