Payment Card Industry

Verizon: Internet of Things Hacks Pose Little Risk – For Now

In-brief: Verizon said in its latest Data Breach Investigations Report that threats from Internet of Things technologies were more theory than practice in 2014, but that 2015 could see IoT devices play a role in breaches.

FBI Mules

FBI Seizes Dozens of Online ‘Dark Markets’

The news yesterday was that the FBI arrested a 26 year-old San Francisco man responsible for operating Silk Road 2.0 – an anonymous, online marketplace for illicit goods. The news on Friday is that Silk Road was just the tip of the iceberg. On Friday, the FBI and announced that it has seized dozens of other so-called “dark market” websites offering a range of illegal goods and services for sale on the “Tor” network. The coordinated take downs are the “largest law enforcement action to date against criminal websites operating on the ‘Tor’ network,” the FBI said in a statement. “We shut down the original Silk Road website and now we have shut down its replacement, as well as multiple other ‘dark market’ sites allegedly offering all manner of illicit goods and services, from firearms to computer hacking,” said  Manhattan U.S. Attorney Preet Bharara The take-downs were part of a coordinated law enforcement action […]

Obama Uses Executive Order To Push Chip and Pin

Add data security to the long list of issues on which U.S. President Barack Obama has resorted to unilateral action in order to push the government forward on a crucial matter. On Friday, President Obama signed an Executive Order directing the government to require the use of so-called “chip and PIN” technology for any newly issued or existing government debit and credit cards. The Order was intended to make the federal government “lead by example in securing transactions and sensitive data,” the White House said in a statement. The new BuySecure Initiative will provide consumers with more tools to secure their financial future by assisting victims of identity theft, improving the Government’s payment security as a customer and a provider, and accelerating the transition to stronger security technologies and the development of next-generation payment security tools. The Order launches a new initiative dubbed “BuySecure” intended to “drive the market towards more secure payment systems” […]

Report: Hacked Password Behind Compromise of 75m JPMorgan Accounts

The top news this week is about Wall Street giant JP Morgan Chase, which disclosed on Thursday that a previously disclosed breach was much larger than initially believed, affecting more than 75 million account holders. And once again, reports suggest that a compromised employee account may be at the root of the incident. Bloomberg, which first broke the news of the cyber attack on JPMorgan Chase in August, said on Friday that hackers exploited an employee’s access to a development server as part of an attack on a JPMorgan Chase & Co. server that led to one of the largest cyber-attacks ever and the theft of data on 76 million households and 7 million small businesses. According to the Bloomberg report, which cited “people familiar with the bank’s review,” the breach started in June when an employee’s user name and password for what’s described as “a web-development server” were compromised. From that […]

The Home Depot Logo

Report: Home Depot Fallout Reveals History of Lax Security, Hiring

Its a truism in cyber security that behind every great hack often lies a string of bad decisions and missed opportunities. Its also true that when you dig into the details of damaging cyber incidents, the root causes are personal and psychological as often as they are technical in nature. Organizations -even sophisticated and wealthy organizations – end up making bad decisions for all the wrong reason: failing to properly assess their risk, or pursuing short term savings when long term investment is needed. Home Depot learned via law enforcement that a breach of transaction data exposed as many as 52 million credit card transactions, the largest retail credit card breach to date. But as more comes out about the breach at home improvement giant Home Depot, it starts to look a lot more like the root causes there may have started in the HR department rather than the data center. The […]