PwC Survey of 758 American Companies Says $4.1 Billion Being Spent This Year to Stop Hackers To date this year, there have been 679 major data breaches, a 25 percent increase over the same time frame a year ago, which is more than enough reason for companies to increase their investments in cybersecurity. As a matter of fact, at the current rate, the PricewaterhouseCoopers survey says spending on security could increase by another $2 billion by 2017. In her article on detroitnews.com, Lauren Abdel-Razzaq has…

New Report Says Prime-Demographic Millennials Are Much More Positive about Mobile Payments than Any Other Age Group JWT Intelligence, which conducts research and analysis of emerging trends, found that millennials in the UK are most receptive to making payments using a mobile device. In a story on the JWT Intelligence study that ran on thepaypers.com (link to article), the research organization discovered that UK internet users 18 to 34 had a much more positive attitude toward mobile payments than any other age group. Just about…

ThreatMetrix Predicts Mobile Transactions and Account Takeovers Will Turn Holiday Shopping into “the Nightmare before Christmas,” Chanukah and Kwanza This year is expected to be one of the hottest shopping seasons on record. In fact, the National Retail Federation expects a 4.1 increase in sales. Translated into hard cash, that’s roughly $616.9 billion — more than enough incentive for cybercriminals to go all out looking soft spots to attack on e-commerce sites. Cybercrime migrating from POS to online And, with the adoption of in-store technologies…

Two Javelin Analysts Argue EMV Will Not Shift Cybercriminals’ M.O.s From P.O.S. to Online Everybody knows that when EMV becomes the American standard next October, beaten cybercriminals will drop Point of Sale theft like a hot rock and take to the hills or try their collective hands at online fraud and thievery. P.O.S. crime goes down, online crime goes up. Everybody knows that, right? Wrong. Two Javelin Strategy & Research analysts, Nick Holland, retail payments practice lead and Al Pascual, fraud and security practice lead…

Taking a Page from the ThreatMetrix Playbook, the Credit Card Giants Are Moving to Non-Intrusive, Effective Authentication Systems More than a year ago, ThreatMetrix was warning that the day of the password had passed (See the ThreatMetrix news release titled “2013: The Year of the Password Apocalypse” ) and advised: Integrating Login and Payment Screening for a single view of the customer whether he/she does a guest checkout on a friend’s iPad or uses a registered credit card on a mobile device. Leveraging Shared Intelligence…

Report Marks Trends Leading up to Holiday Shopping and Identifies Top Concerns such as Account Takeover and Customer Friction Hot off the presses, or more accurately, straight out of cyberspace, comes the “ThreatMetrix Cybercrime Report: Q4 2014” detailing Q3 cyberattacks discovered by the ThreatMetrix Global Trust Intelligence Network (The Network) which analyzes more than 850 million monthly transactions, and protects more than 210 million active user accounts across 3,000 customers and 15,000 websites. Now leveraging real-time, anonymized data from The Network across industries, the Report,…

…Evidently Not. New Survey Suggests Most Americans Feel the Security of Their Personal Information and Ability to Maintain Confidentiality Are in Danger A Pew Research Center study titled “Public Perceptions of Privacy and Security in the Post-Snowden Era” by Mary Madden found that an amazing 91 percent of Americans believe they’ve lost control over how companies collect and use their personal information. Likely the other 9 percent who feel they have control — excluding those not within the margin of error — feel Congress is…

Report Surveys What Victims Face after Their Identities Are Stolen. Who steals my purse steals trash; ’tis something, nothing; ‘Twas mine, ’tis his, and has been slave to thousands; But he that filches from me my good name Robs me of that which not enriches him, And makes me poor indeed. The bard was dead on about most things, but identity theft? Well he was half right. And for somebody separated by over half a millennium from smartphones, iPads, credit reporting agencies, and even credit,…

In the first half of the year UK online firms lost £110 million in fraudulent remote card purchases, according to Financial Fraud Action UK. Although this figure is pretty small compared to the billions made online every year, it is still needlessly high and growing – by 23% year-on-year. What’s more, with the all-important Christmas shopping season just around the corner, firms across Europe are under pressure to accept as much business as possible and sometimes to the detriment of their fraud controls. Yet increasingly…

An Expert Reporter Interviewed Security Experts to Come Up with 6 Lessons Learned from Past Data Breaches That Could Help Stop Future Ones Einstein said “The only source of knowledge is experience.” While Oscar Wilde observed that “Experience is simply the name we give our mistakes.” When it comes to data breaches, both Einstein and Wilde are right on target (The reference to Target in this instance was purely coincidental…maybe) . Anyway, without mistakes, there wouldn’t be breaches. But from those breaches comes the experience…

…But Won’t Give It to You. Internal Revenue Service Not Providing PINs to All Taxpayers Who’ve Been ID Theft Victims. The Treasury Inspector General for Tax Administration (TIGTA) issued a report saying the IRS is not providing personal identity numbers to all eligible taxpayers who have been victims of tax-related identity theft. First issued in 2011, the Identity Protection Personal Identification Numbers (IP PINs) allowed the IRS to quickly process returns to prevent the misuse of taxpayers’ Social Security Numbers on fraudulent tax returns. While…

With Theme of “Building Trust on the Internet,” ThreatMetrix Kicks Off Fourth Annual Summit of Industry Leaders The largest event of its kind with more than 250 cybersecurity experts from around the world, ThreatMetrix’s Fourth Annual Cybercrime Prevention Summit 2014 currently runs through November 7th at La Quinta Resort and Club in Palm Springs, California. Building Trust To meet this ever-growing threat, the Summit will focus on building trust on the Internet for businesses and consumers through a collective, network approach to cybersecurity. ThreatMetrix’s Global…

Customers Can Integrate Information from Any Source to Enhance the ThreatMetrix Global Trust Intelligence Network’s Real-Time Analysis ThreatMetrix’s Fall 2014 Release offers a whole host of new and improved features. Now customers can privately store and analyze organizational-supplied data to determine trust and risk levels and other attributes specific to their businesses. And, through its partnership with Webroot, a leader in cloud-based, real-time Internet threat detection, ThreatMetrix provides new capabilities for analyzing and determining risk factors for applications running on Android-based devices. Enhancing and advancing…

Director of Information Security Forum Says Chief Marketing Officer Should Have Major Role in Security along with CIO, CEO and Board The Information Security Forum describes itself as a not-for-profit organization that supplies “authoritative opinion and guidance on all aspects of information security.” In a piece on adage.com, Steve Durbin, managing director of ISF, offers his opinion on a CMO’s role in security and when there is a breakdown in security, i.e., a breach. The following has been excerpted from his story and edited to…

U.S. Banks Received Tens of Thousands of Dollars Charged on EMV Cards — Despite Not Having Sent Customers Chip-Enabled Cards! During World War II, British intelligence used a real dead body to create a fictitious Royal Marine Major William Martin. The body was dropped in the sea by a submarine and washed ashore on a Spanish beach where it was hoped it would fall into the hands of German intelligence. Attached to the body was a briefcase containing letters falsely stating that an Allied attack…