Security & Fraud

News
Heartbleed’s Heartache: Not Over Yet
June 24, 2014

While the infamous Heartbleed virus reared its ugly head back in April, a recent report showed that over 300,000 unpatched servers could still be at-risk. According to Errata Security’s Robert Graham, efforts to patch remaining systems are slowing drastically. As reported by PC World, Graham...

International
Security Firm Tanium Picks Up Andreessen Investment
June 23, 2014

Andreessen Horowitz is placing the second biggest bed in the venture-capital firm’s history on Tanium Inc., a largely unknown start-up that helps companies pinpoint security threats to sprawling and vast computer networks. Andreessen is buying into Tanium for a whopping $90 million, pegging the company’s...

News
Former NSA Chief Warns Banks Of Hacking Threats
June 23, 2014

Keith Alexander, the former National Security Agency chief and head of the U.S. Cyber Command, recently spoke to cyber consultants about the potential dangers facing the financial industry. According to a recent Bloomberg article, Alexander retired in March, but is now trying to speak directly...

Alternative Finances
United Security Bank Settles with Cyberheist Victim Oil Company $350K
June 20, 2014

California-based oil company TRC Operating Co., Inc. has reached a settlement with United Security Bank for reimbursement funds stolen during a 2011 cyberheist on the company’s accounts. According to Internet security blogger Brian Krebs, TRC faced a five day hijacker-attack on its corporate accounts that lasted...

Hmmm
FDIC Takes Action Against Bancorp and Discover
June 19, 2014

Bancorp Bank’s recent FDIC consent-decree agreement has hobbled the nation’s top prepaid issuer and will likely open the prepaid market to others. But the FDIC’s actions aren’t limited to prepaid card issuers, as Discover can attest which was the target of FDIC’s probe into potential...

News
Hackers Hawk Credit Card Info Through YouTube
June 18, 2014

Digital Citizens Alliance, an internet safety research group, announced earlier this week that it had found dozens of videos on YouTube of individuals selling stolen credit card data. Bloomberg cited research from the organization’s 13-page report, which said that a search for how to get...

Mobile Commerce
Malware Detected Targeting U.S., UK Mobile-Banking Apps
June 17, 2014

A new form of a mobile Trojan virus appears to target online banking, and it potentially could place multiple banks’ customers at risk. More than 100 million Americans use mobile banking. Kaspersky Lab says is has detected the malicious software, called Svpeng, operating in the...

Controversial
CFPB Targets Mobile Banking
June 16, 2014

Mobile banking is now under the CFPB’s spotlight in order to assure that access to mobile financial services is being applied equally in all sectors of the population. Independent of that action, a House committee has introduced several bills that would limit the CFPB’s powers...

Exclusive Series
EMV In The U.S.: It Will Be A Long Ride
June 13, 2014

By the time the card networks’ EMV liability-shift deadline takes effect in October next year, potentially far less than half of the nation’s cards and payment terminals will comply. Legislation and various controversial issues, such as whether to support PINs or signatures for authentication or...