ITAC Blog » What the “Bad Guys” are Doing http://itacidentityblog.com Thu, 29 Jul 2010 14:11:04 +0000 http://wordpress.org/?v=2.8.4 en hourly 1 Ten Faces of Banking Fraud in 2010 http://itacidentityblog.com/ten-faces-of-banking-fraud-in-2010 http://itacidentityblog.com/ten-faces-of-banking-fraud-in-2010#comments Thu, 07 Jan 2010 14:53:37 +0000 ITACadmin http://itacidentityblog.com/?p=923 BankFraudThere never seems to be shortage of fraud issues that challenge banking professionals on an ongoing basis. In 2009, customer loan takeovers, credit bust-out schemes, wire fraud account grooming and in-session phishing were some of the major schemes that banking professionals had to thwart. According to Bank Info Security, 2010 will prove to be more of the same but with an increase in check fraud, insider crimes and mobile phone fraud. As we have covered extensively on this blog, staying one-step ahead of the bad guys has, and will continue to be, a challenge. Fortunately, the article from Bank Info Security will hopefully provide banking professionals with the information needed to anticipate these threats. The tough reality is that the bad guys are smart and will continue to find innovative ways to commit fraud.

]]> http://itacidentityblog.com/ten-faces-of-banking-fraud-in-2010/feed 0 Verizon Business Study: Organized Crime Cause of Spike in Data Breaches http://itacidentityblog.com/verizon-business-study-organized-crime-cause-of-spike-in-data-breaches http://itacidentityblog.com/verizon-business-study-organized-crime-cause-of-spike-in-data-breaches#comments Thu, 16 Apr 2009 13:53:43 +0000 ITACadmin http://itacidentityblog.com/?p=224 Verizon Business just issued its “2009 Verizon Business Data Breach Investigations Report” study and it uncovered some very sobering facts about data breaches, revealing that corporations fell victim to some of the largest cybercrimes ever during 2008. In fact, more electronic records were breached in 2008 than the previous four years combined. Much of this was fueled by a targeting of the financial services industry and a strong involvement of organized crime.

The second annual study is based on data analyzed from Verizon Business’ actual caseload comprising 285 million compromised records from 90 confirmed breaches. And the news is not good for the financial sector, accounting for 93 percent of all such records compromised last year, and a staggering 90 percent of these records involved groups identified by law enforcement as engaged in organized crime.

Click here to read the full report.

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