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Security provider RSA is reporting a new and unfamiliar Trojan attack that exploits business bank account holders’ heightened awareness of security and uses it against them. In light of the fake Olympic ticket scam the Federal Police together with the Bankers' Association is warning internet users of a another popular internet swindle. Cybercriminals are stealing bank login details from Australian online bankers and selling the data on European black markets for as much as €550 ($913). Credit and charge card fraud rates increased in 2007, as more dollars were lost to fraudulent overseas online merchants, according to the Australian Payments Clearing Association (APCA). Heisenberg fan boys are shaking their heads this week to the tune of a pair of Swedish mathematicians who claim to have broken quantum cryptography. As long as there has been credit granting there have been customers committing first party fraud. TJX and three bankers groups have settled a lawsuit over costs related to the discount retailer's record data breach that may have exposed as many as 94 million accounts, the parties announced Tuesday. New England is again the epicenter of a major retail data breach, this time with the Hannaford Bros. grocery store chain on Monday disclosing that hackers stole 4.2 million debit and credit card numbers from its computer systems. TJX on Wednesday reported a 47 percent spike in quarterly profits, aided by a reduction in the reserve that was created to pay for costs associated with last year's reported data breach. A group of New England banking associations contended in a court filing Tuesday that hackers stole 94 million account numbers when they infiltrated the databases of clothing retailer TJX, the Boston Globe reported today. California Gov. Arnold Schwarzenegger, with strong urging from a lobbying alliance, has vetoed a stringent data protection bill that would have made merchants, not banks, responsible for reissuing credit cards and alerting customers following a breach.
Three US state banking associations announced Tuesday that they have filed a joint lawsuit against TJX Companies over "dramatic costs" their 300 members have incurred since the discount retailer announced that hackers infiltrated its processing systems, exposing some 45 million credit card numbers. Responsibility for spotting identity fraud should rest with business, says Bruce Schneier. The Anti-Phishing Working Group (APWG) announced today that it will join representatives from the financial services and law enforcement communities to host the Counter eCrime Operations Summit later this month. TJX Companies, the parent firm of retailers T.J. Maxx and Marshalls, was hit with a flurry of lawsuits this week resulting from hackers breaching company servers. Personal information stolen from the databases of TJX Companies has been used in fraudulent credit card purchases in the United States and abroad, according to one banking organisation. More than half of all Chinese malware writers are stealing login details of online gaming ‘heroes’ for cultural prestige rather than targeting financial organisations for financial gain, claims Sophos. If you're part of a financial institution, chances are you've memorised the Federal Financial Institutions Examination Council (FFIEC) guidance chapter and verse, and, with risk assessment in hand, are in the midst of rolling out some form of consumer authentication. The US has been named and shamed as the nation that hosted more malicious code and relayed more spam than any other during 2006. Gary McKinnon, who allegedly hacked into the US military and NASA computer systems, will continue his fight against extradition to the US in an appeal hearing early next year.