Topic:

Data Security & Fraud Prevention

Latest Headlines

Latest Headlines

GAO criticizes SEC over cybersecurity

The U.S. Government Accountability Office has sent a 25-page report to the Securities and Exchange Commission detailing numerous weaknesses in the agency's cybersecurity controls over the nation's Securities markets. The report was the result of a security audit conducted by the GAO during the 2012 and 2013 fiscal years.

Banking regulators issue Heartbleed warning

The Federal Financial Institutions Examination Council (FFIEC) has issued a warning to banks to take measures to address the Heartbleed vulnerability as soon as possible. In addition to applying...

New 'Unlimited Operations' ATM attacks net millions

Now that companies are increasingly savvy about denial-of-service attacks, hackers have turned their attention to ATMs with a new type of attack that can net millions. Called "Unlimited...

FBI busts international card fraud ring

The Federal Bureau of Investigation indicted 17 defendants in an international theft ring involving stolen ATM card data. Arrests were made in Chicago and Bulgaria to conclude the multi-year investigation.

Painting a complete picture of a perpetrator

Just as the promise of good customer relationship management is the ability to paint a complete picture of the customer, a similar approach is developing in the area of fraud. It turns out, marrying big data and fraud prevention may involve applying some of the techniques associated with savvy target marketing toward identifying false identifies and other types of scams.  

Buffet's move to end Business Wire direct feeds highlights increasing HFT scrutiny

A few weeks ago, a Wall Street Journal article detailed the milliseconds-long advantage that high-frequency traders were getting from press release dissemination companies Business Wire and Marketwired. Through paying top prices for direct feeds, high frequency traders were getting press releases less than a second before they were released through traditional news outlets like Bloomberg, Thomson Reuters and Dow Jones, but it was early enough for the tech-savvy firms to execute trades before the news was out.  

Millions of Nigerian identities to be logged for bank biometric project

The Central Bank of Nigeria embarked on a major biometrics project that will involve registering details like the fingerprints and facial features of millions of Nigerians in the next few months. The data is being used to identify people at ATMs and point-of-sale.  

Stolen Barclays customer data allegedly sold to scam artists

The up to 27,000 victims of Barclays data theft may have fallen victim to scams, as their customer data was allegedly sold to rogue operators. Barclays, the police and the Financial Conduct Authority and Information Commission are all investigating the breach, according to the Mail which first broke the story.  

Cyber criminals and the art of disguise

One lesson learned from the Target credit card scandal is that hacking, once perhaps considered primarily an IT problem, has now been elevated to a business problem. This is highlighted not only by the costs of the Target scandal, but by the sophistication of the cyber-hacking techniques and the evidence of pre-meditated criminal strategy employed by the perpetrators.

ICE's takeover of scandal-plagued LIBOR

IntercontinentalExchange has received final regulatory approval clearing the way for its takeover of the administration of Libor  beginning Feb. 1. The question is now whether Libor can be rehabilitated  under new management.