Links in “Technology”

It may have disappeared from the headlines, but the Heartbleed bug has far from disappeared. Two months after it was discovered, at least 300,000 servers remain vulnerable. [6/24/14]

Cybercrimes are taking their toll, with consumers losing confidence in financial institutions. 29% of U.S. consumers use their replacement cards less as a result of a fraud or breach. [5/23/14]

An employee of a business customer of BankSouth apparently fell for a phishing scheme, which allowed the bad guys to learn the user name and password of the employee. The business declined to use bank-offered "dual controls," which would require two separate employees to complete the transfer action, for the sake of convenience. When the business lost $588,000 in a cyberheist, it sued the bank and not only lost, but the court has said the bank can now pursue its legal fees against the customer. [6/23/14]

This is the question some are asking in light of the first major security threat that has target the mobile banking market. A new Russian malware called Svpeng targets certain mobile banking apps, locks the phone, and them demands money to unlock it. [6/17/14]

Bank of England spearheads an initiative called CREST, an effort to create a controlled environment for testing uncontrolled cyber-attacks. [6/11/14]

You remember the scene: Russell Crowe as math student John Nash in the film A Beautiful Mind. Suddenly, Nash is struck with his "governing dynamics" theorem—that competitors would be far more successful if they all went after different "targets."

While most of the cybersecurity talk is focused toward large financial institutions, what governing dynamics theory tells us is that mid-size and smaller institutions are actually more attractive targets because malefactors presume that their security measures may not be as robust and they are not being pursued by other predators. Jane Pannier describes what measures to take to defend your institution. [6/10/14]

Sam's Club is rolling out this month a credit card with a microchip to prevent fraud, the first major retailer to make the switch to the embedded chip since the Target breach last year. [6/5]

Gameover Zeus, a botnet, infected up to 1 million computers, putting them in the control of hackers in Russia and Ukraine. The network stole bank credentials and used them to make wire transfers overseas. It is estimated the network stole more than $100 million. [6/3]

Despite a lot of rhetoric about young members not using branch offices, branch usage continues to be strong. However, there is still risk in overbuilding one-size fits-all silos. The answer may be incorporating more self-service and remote technology to connect with your changing membership and to manage costs. [6/3]

A shocking report published by CNN Money reports that more than 432 million individual accounts were compromised in the past 12 months. Larry Ponemon, head of the Ponemon Institute that conducted the research, warns that those individuals that believe they have not been victims of a data breach are just not paying attention. [5/29]