A year after the Twitter-AP event, new security vulnerabilities and breaches (Heartbleed, Target, to name a few) continue to be in the weekly headlines. Organizations affected by those events have taken some measures to prevent them from happening again, and the largest financial services companies are investing heavily in cyber security. JPMorgan Chase, the nation’s largest financial institution, recently announced they are investing in additional layers of security, to the tune of $250 million annually and 1,000 people dedicated to the effort. Other organizations with high-value data and assets should follow that trend, and make a real assessment of their current solutions to see if they really help them combat cyber attacks and fraud in an effective way.
It almost seems like a day doesn’t go by without someone reporting the discovery of hundreds of millions of pieces of user-specific information related to credit and debit cards, e-mail addresses, or log-in credentials being sold on underground markets. If these numbers are true, the banks are paying the price for these leaks in a big way.
Half a Million Americans’ IDs and bank data stolen and sold online – and that’s just the tip of the iceberg
Last week, the Justice Department indicted a 24 year old Vietnamese man with 15 counts of wire fraud, identity fraud, access device fraud and conspiracy charges, for his part in stealing and helping to sell ‘fullz’ packages of IDs online for over 500,000 people. These ‘fullz’ packages include a person’s name, date of birth, social security number, bank account number and bank routing number, and payment card data. Read more
IBM’s Billion Dollar Acquisition of Trusteer Highlights Demand for Fraud Protection For Financial Services and Beyond
Security acquisitions are on a roll, and this week IBM rocked the security community with its plans to acquire Trusteer for almost $1 billion dollars. What does this huge premium tell us? The online fraud problem is worse than ever, and fraud prevention is becoming a challenge for any company that does business online. Read more
Discover why Easy Solutions is Named a “Visionary”
The Magic Quadrant for Web Fraud Detection report offers detailed analysis of 15 security vendors who provide software products or services that help organizations detect and prevent fraud that occurs over the Web and via mobile channels.
According to Gartner, “Visionaries have innovative research and development, a good understanding of their markets and solid strategies that poise them for healthy growth”