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After ATM heist, India's IT Sector Again in Unwelcome Spotlight
May 15, 2013 10:33 am | CommentsA breach of security at two payment card processing companies in India that led to heists at cash machines around the world has reopened questions on the risks of outsourcing sensitive financial services to the Asian nation. Any perception that data may be less safe in India is unwelcome for an industry that faces an undercurrent of hostility for taking away jobs in the West, home to most of its clients.
FBI Calls for Cooperation with Banks on Cyber Attacks
May 14, 2013 10:45 am | by Joseph Menn | CommentsThe FBI last month gave temporary security clearances to scores of U.S. bank executives to brief them on the investigation into the cyber attacks that have repeatedly disrupted online banking websites for most of a year. The extraordinary clearances reflect some action after years of talk about the need for increased cooperation between the public and private sectors on cybersecurity.
Stock Fraud Ring Organizer Sentenced for Hacking Prices
May 14, 2013 10:29 am | CommentsThe central organizer of a worldwide conspiracy to manipulate stock prices through a botnet network of virus-controlled computers was sentenced today in Trenton federal court to 71 months in prison. Christopher Rad, 44, of Cedar Park, Texas, was previously convicted, following a nine-day jury trial.
US Government Probes AP Phone Records
May 14, 2013 9:45 am | by Mark Sherman | CommentsThe Justice Department secretly obtained two months of telephone records of reporters and editors for The Associated Press in what the news cooperative's top executive called a "massive and unprecedented intrusion" into how news organizations gather the news.
Cyber Attacks against US Corporations on the Rise
May 13, 2013 4:31 pm | by David Sanger and Nicole Perlroth | CommentsA new wave of cyber attacks is striking American corporations, prompting warnings from federal officials, including a vague one issued by the Department of Homeland Security. This time, officials say, the attackers’ aim is not espionage but sabotage, and the source seems to be somewhere in the Middle East.
US Cyberwar Strategy Stokes Fear of Blowback
May 13, 2013 2:07 pm | by Joseph Menn | CommentsEven as the U.S. government confronts rival powers over widespread Internet espionage, it has become the biggest buyer in a burgeoning gray market where hackers and security firms sell tools for breaking into computers. The strategy is spurring concern in the technology industry and intelligence community.
Social Network Analysis, Predictive Coding Fights Fraud
May 13, 2013 1:43 pm | by Rutrell Yasin | CommentsEconomic and budget realities have turned the spotlight on fraud, waste and abuse across federal, state and local government organizations, and agencies are employing new technologies that can detect collusive relationships and combat some of the more sophisticated fraud schemes.
Prepaid Debit Cards: Weak Cyber Security Link
May 13, 2013 9:57 am | by Emily Flitter and Tanya Agrawal | CommentsA brazen gang of cyber criminals, who stole $45 million from bank ATMs in 27 countries, exposes an Achilles heel in the global financial industry: prepaid debit cards. Cyber security experts and industry analysts say the burgeoning use of prepaid debit cards for everything from gift certificates to disaster relief handouts is making it easier for hackers to withdraw large amounts of money before detection.
Germany Arrests Two Dutch Suspected of Cyber Crime Bank Heist
May 10, 2013 11:34 am | CommentsGerman prosecutors have said they had arrested two Dutch people suspected of involvement in a global cyber theft of $45 million from two Middle Eastern banks. The Duesseldorf prosecutor's office said a 35-year-old male and a 56-year-old woman had been caught on February 19 withdrawing 170,000 euros in Duesseldorf using Bank of Muscat credit cards.
Russian-made Surveillance Technologies Used in the West
May 10, 2013 11:10 am | by Andrei Soldatov and Irina Borogan | CommentsWe all know surveillance is big in Putin’s Russia. What you may not know is that Russia’s surveillance tech is being used all over — even here in the U.S. The Kremlin is up to its domes in spy technology. One reason is fear, provoked by the Arab Spring, of a growing and diffuse protest movement that uses social media to organize.
Eight Caught in $45 Million ATM Cyber Heist
May 10, 2013 8:38 am | CommentsA four-count federal indictment was unsealed in Brooklyn charging eight defendants with participating in two worldwide cyberattacks that inflicted $45 million in losses on the global financial system in a matter of hours. These defendants allegedly formed the New York-based cell of an international cybercrime organization that used sophisticated intrusion techniques to hack into the systems of global financial institutions.
Heartbeats Could Bar Access to Devices
May 9, 2013 4:52 pm | CommentsAn electrocardiogram maps each heartbeat according to five peaks and troughs known as a PQRST pattern. This pattern is affected by such things as the heart’s size, its shape and its position in the body. Cardiologists have known since 1964 that everyone’s heartbeat is unique, and researchers around the world have been trying to turn that knowledge into a viable biometric system. Until now, they have had little success.
Government's Chaotic Email Surveillance Policy
May 9, 2013 11:58 am | CommentsCan the FBI obtain Americans’ emails without a warrant? That depends on which branch of the government you ask — because federal policy on electronic communications is in a “state of chaos,” according to the ACLU. The civil liberties group has published a series of documents, obtained under the Freedom of Information Act, that demonstrate how confused and contradictory guidance on email snooping is.
Huawei's CEO Breaks Silence over US Cyber Threats
May 9, 2013 11:48 am | CommentsRen Zhengfei, founder and CEO of Huawei Technologies Co Ltd, defended the Chinese firm's stand on U.S. cybersecurity concerns when he spoke to the media for the first time, lifting a veil of secrecy surrounding the elusive executive. Ren has avoided the press since he founded Huawei 26 years ago, which has fueled criticism by some foreign officials that the company is not transparent about its activities.
Digital Forensics in Schools Key to Cybersecurity's future
May 9, 2013 11:34 am | by Ellyne Phneah | CommentsDigital forensics can help curb cybercrime by giving companies the additional knowledge, and should be taught in schools early to cultivate the students' passion. This will go some way to address the talent crunch in the industry, according to Vrizlynn Thing, the acting head of the cybercrime, security and intelligence (CSI) department at the Institute for Infocomm Research (I2R).
