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Corporate data breaches - which can lead to identity theft - are occurring in Australia and without disclosure laws similar to those in the US those affected will never know they are at risk, claim Gartner analysts.
Apple Computer, known as much for secretive ways as it is for developing widely popular consumer electronics such as the iPod and iPhone, has been sued for disclosing too much of its customers' personal information. 23 lawsuits filed in California and Florida. Five additional states have filed lawsuits against TJX over the massive data breach that exposed some 45.7 million credit card numbers to hackers, the retailer reported on Thursday in a federal regulatory filing. Bank of America, Microsoft and Wal-Mart Stores are three of 14 organisations that will make up the newly formed PCI Security Standards Council (SSC) Board of Advisors. Dollar losses from ecommerce fraud are rising, with newly published research predicting that cyber fraudsters will steal more than $2.8 billion during 2005, an 8-percent increase over the year before. Cyber crime is costing the e-commerce industry as much as £580 million (A$1.38 billion) per year, with that figure set to rocket to £1.5 billion (A$3.6 billion) by 2010, latest figures show. As businesses try to get to grips with an ever growing list of regulations, could the legislators actually be doing them a favour? I fought the law, and the law won - wise words indeed from The Clash, and the logic is indisputable. However, in the world of business compliance, not everything is black and white: what does your business need to comply with, and how? Will the process be a hindrance or a business boon? A handful of data security companies announced they're forming a new alliance to advocate for firms who must comply with the payment card industry data security standards (PCI DSS). Just like the detectives do on weekly television crime dramas, put yourself in the mind of the bad guy. Pretend that you're the criminal who brokers stolen personal information with organised crime syndicates overseas. Put yourself behind the eyes of the malicious hacker who plans to breach merchant networks and compromise wholesale volumes of consumer payment card information, the kind of information that can be bartered within the internet's dark underbelly. The five leading payment card companies joined together today to update to announce the formation of an independent council to manage and enforce the Payment Card Industry (PCI) Data Security Standard. At first, the idea to sell a new .xxx domain name suffix to online porn vendors seems rational. Any site using the new suffix would be instantly recognisable by web filters and blocked, if required. Good news for parents, businesses and schools – and an industry seeking to position itself as an acceptable, even necessary, part of Western civilisation. Smart cards make perpetrating fraud considerably more difficult than "traditional" magstripe cards. In regions where offline processing is the dominant method for processing transactions this especially is true. As a result — and even though we have driven payment card fraud to an all-time low — our industry is now seriously exploring how smart card technology can become the primary driver in the evolution of payment card security. The website of Israeli-based Blue Security is operational today after it sustained almost a weeklong DDoS attack that apparently was in retaliation for the company’s anti-spam business model. Two years ago, Bill Gates made the brave prediction that spam would soon be “a thing of the past.” But it currently makes up between 60 and 90 percent of the world’s email traffic, and by all accounts is not going away. If anything, this year will see spam reaching new heights. A few years ago I took the decision to turn my tax affairs over to an accountant. Not that I earn that much, but I simply can’t figure out all the boxes, and it means having to read the manual which has never been a particularly strong point. Spam, trojans, keyloggers and every variety of virus are on the increase, making life harder for information security professionals. René Millman assesses the scale of this onslaught MasterCard’s recent move to offer financial incentives for companies using its SecureCode payer authentication system is a step in the right direction to fight online card fraud, but still "not enough," Gartner has warned. More than half of the IT professionals in a recent survey said their companies do not fully understand the requirements mandated by the Payment Card Industry (PCI) Data Security Standard.