Global Payments breach, which affected MasterCard and Visa customers, is only the latest in string of hacks and data thefts that have cost financial institutions millions of dollars.
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Data breaches are no joke. Just ask any chief security officer. In addition to the bad headlines, customer churn, and regulatory headaches associated with data breaches, the monetary costs can add up quickly. Until the Mastercard and Visa hack, the most recent high-profile data breaches have hit largely outside of the financial services industry, with Sony, Michael's Stores, and RSA (which cost parent company EMC close to $66 million) grabbing most of the headlines.
Despite the focus on other industries, though, financial services continue to be a top target for data breaches, caused by hacks, card scams, insider data theft, and the loss of portable devices that contain financial or private information.
The details of the data breaches are downright scary--or ingenious, depending on your point of view. Here are nine of the largest, most recent financial services data breaches:
Fidelity National Information Services (FIS)
Cost: $13 million
After breaking into FIS's network and gaining access to the company's database, a group of criminals obtained 22 legitimate ATM cards. Copies of the cards were made and shipped to Greece, Russia, Spain, Sweden, the Ukraine and the United Kingdom, according to PrivacyRights.org. The criminals altered the cards so that they could be used to withdraw an unlimited amount of cash. A total of $13 million was taken from accounts in 24 hours, between the evening of Saturday, March 5, and Sunday, March 6, 2011. The heist may be one of the most complex and intricate bank hacks of all time, involving numerous criminals in six countries. It sounds like the storyline for a movie, except for the fact that it is fairly geeky cybercrime involving mundane ATMs. Information Sources:Privacyrights.org and KrebsonSecurity.
As companies increase their use of cloud-based applications, IT and security professionals must make some tough and far-reaching decisions about how to provision, deprovision, and otherwise manage user access. This Dark Reading report, How To Manage Identity In The Public Cloud, examines the options and provides recommendations for determining which one is right for your organization. (Free registration required.)
Dark Reading Tech Digest, Dec. 19, 2014Software-defined networking can be a net plus for security. The key: Work with the network team to implement gradually, test as you go, and take the opportunity to overhaul your security strategy.
Published: 2015-01-31 VMware vSphere Data Protection (VDP) 5.1, 5.5 before 5.5.9, and 5.8 before 5.8.1 does not properly verify X.509 certificates from vCenter Server SSL servers, which allows man-in-the-middle attackers to spoof servers, and bypass intended backup and restore access restrictions, via a crafted certifica...
Published: 2015-01-31 The key-management component in Symantec PGP Universal Server and Encryption Management Server before 3.3.2 MP7 allows remote attackers to trigger unintended content in outbound e-mail messages via a crafted key UID value in an inbound e-mail message, as demonstrated by the outbound Subject header.
Published: 2015-01-31 Symantec PGP Universal Server and Encryption Management Server before 3.3.2 MP7 allow remote authenticated administrators to execute arbitrary shell commands via a crafted command line in a database-backup restore action.
Published: 2015-01-31 Multiple cross-site scripting (XSS) vulnerabilities in the note-creation page in QPR Portal 2014.1.1 and earlier allow remote attackers to inject arbitrary web script or HTML via the (1) title or (2) body field.
If you’re a security professional, you’ve probably been asked many questions about the December attack on Sony. On Jan. 21 at 1pm eastern, you can join a special, one-hour Dark Reading Radio discussion devoted to the Sony hack and the issues that may arise from it.