Despite Insurance, Companies Still at Risk for Financial Consequences of a Data Breach

A recent study shows that even though many companies have purchased insurance to protect themselves from the financial consequences of a data breach, gaps remain that must be closed. The study, commissioned by Wells Fargo Insurance's Technology, Privacy and Network … Continue reading

79% of Small Business Owners Unprepared for Cyber Attack

Nearly eight in ten (79%) small business owners do not have a cyber attack plan, even though 63% have already been the victims of at least one attack, according to a Nationwide study released today. Respondents were asked why they had … Continue reading

Security Concern: 44% of Federal Endpoints Are Unprotected

An analysis of the government IT system reveals that 44% of the Federal government's endpoints are unknown or unprotected. Only half of the MeriTalk survey respondents have attempted to secure endpoints, which are items such as laptops, cell phones and tablets. Cyber criminals … Continue reading

13 Million Passwords Taken in Web Host Data Breach

The usernames, email addresses and passwords of 13.5 million accounts were stolen from 000webhost, a Lithuanian-based web hosting company. The company admitted to the breach on its Facebook page. In the statement, the company said, "We have witnessed a database … Continue reading

3 of 4 Consumers Have Changed Online Behavior Due to Cybercrime

Nearly 3 of 4 adults (74%) in the United States say they have changed their online behaviors due to the threat of cybercrime, according to a recent survey. The most common changes are not conducting transactions on a shared computer … Continue reading

Visa and FireEye Partner to Help Merchants Prevent Fraud

Visa and FireEye have partnered to create a fraud prevention service, Visa Threat Intelligence (VTI), which aims to transform security breach information into actionable advice for issuers and merchants. FireEye and Visa will create articles based on their investigation and analysis … Continue reading

More U.S. Companies Victims of State-Sponsored Cyberattacks

A disturbing report released today shows that 35% of U.S. organizations have been the victim of nation-state cyberattacks. The survey by CounterTack|MCSI, a data endpoint detection and response company, is the security industry's first in-depth examination of state-sponsored attacks against corporations … Continue reading

An “Average” Cyber Crime Costs a U.S. Company $15.4 Million

The cost of cyber crime is skyrocketing. A new study shows a cyber crime incident in the United States costs a company an average of $15.4 million, an increase of 19%. Cyber crimes in the United States are much costlier … Continue reading

Data Breach at Online Cheating Site Ashley Madison

This is not your ordinary credit card data breach. Ashley Madison, a website that promotes adultery by connecting married people looking to cheat on their spouses, was hacked by cyber criminals who are threatening to release information on the company's … Continue reading

Data Breaches Will Cost Over $2 Trillion by 2019

A new report predicts that data breaches will cost the global economy $2.1 trillion by 2019, almost four times more than this year. The research from market analytics firm Juniper Research indicates that sophisticated hacking tools will play a major … Continue reading

Experiment Reveals How Fast Stolen Data Spreads on the Dark Web

An experiment from BitGlass studied how stolen credit cards and Social Security numbers make their way through the Internet after a data breach. The results revealed data travels at a remarkable speed and showed just how poor detection efforts have been … Continue reading

President Obama Hosts Cybersecurity Summit at Stanford Today

President Obama is hosting a cybersecurity summit today at Stanford University, bringing together government and industry representatives to discuss ways to improve national security against cyber attacks. Discussion topics will range from public education to the development of more secure … Continue reading Weekly Credit Card Update–December 5, 2014

What Happens When You Swipe Your Card? This holiday shopping season, you might worry that every time you swipe your credit or debit card some criminal might be swiping your account number and with good reason. The number of reported, … Continue reading Weekly Credit Card Update–October 17, 2014

Kmart Says its Store Registers Were Hacked, Exposing Credit Cards For about a month, Kmart says, its stores' checkout registers were "compromised by malicious software that stole customer credit and debit card information." The company, owned by Sears, says it … Continue reading

Major Data Breach at JP Morgan Chase Hits 76 Million Households

JP Morgan Chase, the nation's largest bank in terms of assets, has acknowledged a massive data breach that affects 76 million households and 7 million small businesses. The bank disclosed the extent of the breach in a filing yesterday with … Continue reading

Customer Data Stolen in Hack Attack on Kickstarter

The popular funding site Kickstarter was recently a victim of cyber hacking, where cyber criminals obtained the usernames and passwords for many of the site's account holders. Fortunately, Kickstarter's security measures ensured that no credit card data was stolen during the … Continue reading Weekly Credit Card Update–January 17, 2014

Millions Getting New Debit, Credit Cards After Target Hack Millions of consumers are being sent new credit and debit cards in the wake of the recent security breach that hit as many as 110 million Target customers. JPMorgan Chase announced … Continue reading

Leader of $200 Million Credit Card Fraud Ring Pleads Guilty

The leader of a $200 million credit card fraud ring that was busted earlier this year has now plead guilty to his actions. This case is one of the largest instances of fraud ever prosecuted by the Department of Justice, … Continue reading

New Malware Steals Credit Card Data From Point-of-Sale Systems

Computer security firm McAfee says it has discovered a new type of malware that aims to steal credit card data from computer systems used in retail stores. The malware, a Trojan horse variety, is being called "vSkimmer." Once installed on … Continue reading Weekly Credit Card Update–March 15, 2013

Prepaid Cards May Lack Protections of Checking Accounts Reloadable prepaid cards don't have to carry federal deposit insurance, as checking accounts do, says a new report from a project of the Pew Charitable Trusts. Cardholders can use them for direct … Continue reading

Leading Ways of Stealing Someone’s Identity

The "old fashioned" ways of stealing someone's identity are still the leading causes of identity fraud. According to a study by Travelers, the offline methods of identity fraud such as stolen or lost wallets, pilfered identifications and burglaries far outweigh the … Continue reading