Newsletters
News & Information for Technology Purchasers NewsFactor Sites:       NewsFactor.com     Enterprise Security Today     CRM Daily     Business Report     Sci-Tech Today  
   
This ad will display for the next 20 seconds. Please click for more information, or scroll down to pass the ad, or Close Ad.
Home Enterprise I.T. Cloud Computing Applications Hardware More Topics...
Enterprise I.T.
Tame your scariest paperwork. Find Out How
Average Rating:
Rate this article:  
Five Hackers Indicted for Stealing 160 Million Identities
Five Hackers Indicted for Stealing 160 Million Identities

By Jennifer LeClaire
July 25, 2013 12:55PM

    Bookmark and Share
The focus by organizations, especially those responsible for highly sensitive personal and financial information, needs to shift away from network and system security design toward information security if they wish to stay ahead of the hackers, according to Kevin O'Brien, an enterprise solutions architect at CloudLock.
 


Five hackers have been charged with propagating a massive cyberscheme that helped them steal more than 160 million credit and debit cards from 2005 to 2012. One Ukrainian hacker and four Russians crept into networks of both U.S. and international companies, including 7-Eleven, Dow Jones, J.C. Penny and Nasdaq, and stole personal identifying information, according to the U.S. Attorney's Office for New Jersey.

The U.S. Attorney's office called it the largest cyberscheme ever prosecuted in America. Hundreds of millions of dollars were lost in the exploit. U.S. Attorney Paul Fishman said, "Those who have the expertise and the inclination to break into our computer networks threaten our economic well-being, our privacy, and our national security."

Industrialization of Fraud

We asked Tommy Chin, a Technical Support Engineer at CORE Security, for his take on the breach. He told us with such a large presence in the cybercrime space, it isn't going to be easy to shut down the global black market operation.

"The reward for a new leader to step up when the old leader isn't around anymore is very high," he said. "With 160 million credit card numbers, it's going to be difficult for any crime organization go to bankrupt."

From his perspective, Mike Gross, a senior manager of Risk Strategy and Professional Services at 41st Parameter, sees the compromise of 160 million credit and debit card numbers as further evidence that cyberattackers are using increasingly sophisticated tactics and closely coordinating their attacks, which can have devastating financial consequences.

"Fighting this rapid industrialization of fraud requires both innovative technology and broad visibility into all aspects of the criminal enterprise -- from the initial compromise through the underground sale of data and eventual use," he told us. "Without stronger situational awareness and solutions to harden defenses and proactively identify signals of fraud ahead of large-scale attacks, corporations will continue to see the effects of recent data breaches hitting their bottom lines."

Same Old Strategies

Kevin O'Brien, an enterprise solutions architect at CloudLock, believes criminal hacking is increasingly capable of obtaining information from any publicly accessible resource -- and the focus by organizations, especially those responsible for highly sensitive personal and financial information, needs to shift away from network and system security design toward information security if they wish to stay ahead of those criminals.

"We continue to see the same categories of mistakes leading to data breaches: poorly secured databases subject to SQL-injection attacks, website design issues leading to XSS (cross-site scripting) vulnerabilities, man-in-the-middle and other network-level attacks, and classic social engineering," O'Brien told us. "Some of these can certainly be solved by judicious use of technology, such as better hardware and more carefully implemented encryption technology; others will need to be addressed by way of better training and design in the first place." (continued...)

1  |  2  |  Next Page >

 

Tell Us What You Think
Comment:

Name:



Barium Ferrite Is The Future Of Tape: Barium Ferrite (BaFe) offers greater capacity, superior performance, and longer archival life compared to legacy metal particle (MP) tape. Click here to learn more.


 Enterprise I.T.
1.   IBM Targets Big Data with Power8 Line
2.   Lessons from Verizon's Threat Report
3.   Hortonworks, Concurrent To Partner
4.   APX Labs Aims To Put Glass in Business
5.   Malware Targets Facebook Users


advertisement
Zebra Buys Motorola Enterprise Biz
Pays $3.45B in all-cash deal.
Average Rating:
Lessons from Verizon's Threat Report
Enterprises can learn a thing or two.
Average Rating:
APX Labs Aims To Put Glass in Business
$10M to fund Skylight app for device.
Average Rating:
Product Information and Resources for Technology You Can Use To Boost Your Business

Network Security Spotlight
Tech Giants Fund Initiative To Prevent Future Heartbleeds
Can more funding prevent Heartbleed vulnerabilities in future open-source software? A new Core Infrastructure Initiative at the Linux Foundation is attempting to find out.
 
What Verizon's Data Breach Report Can Teach Enterprises
It’s probably not a jaw-dropper, but cyberespionage is officially on the rise. And the use of stolen or misused credentials is still the leading way the bad guys gain access to corporate information.
 
Top Cyberthreats Exposed by Verizon Report
Beyond Heartbleed, there are cyberthreats vying to take down enterprise networks, corrupt smartphones, and wreak havoc on businesses. Verizon is exposing these threats in a new report.
 

Navigation
NewsFactor Network
Home/Top News | Enterprise I.T. | Cloud Computing | Applications | Hardware | Mobile Tech | Big Data | Communications
World Wide Web | Network Security | Data Storage | Small Business | Microsoft/Windows | Apple/Mac | Linux/Open Source | Personal Tech
Press Releases
NewsFactor Network Enterprise I.T. Sites
NewsFactor Technology News | Enterprise Security Today | CRM Daily

NewsFactor Business and Innovation Sites
Sci-Tech Today | NewsFactor Business Report

NewsFactor Services
FreeNewsFeed | Free Newsletters | XML/RSS Feed

About NewsFactor Network | How To Contact Us | Article Reprints | Careers @ NewsFactor | Services for PR Pros | Top Tech Wire | How To Advertise

Privacy Policy | Terms of Service
© Copyright 2000-2014 NewsFactor Network. All rights reserved. Article rating technology by Blogowogo. Member of Accuserve Ad Network.