Links in “Cybersecurity/Data Breaches”

Wire transfer hackers making nearly $1 billion in requests to move money misspelled "foundation," which caught the attention of the routing bank. But by that time, four transfers totaling more than $80 million had already slipped through. Perhaps now the attackers can afford a good editor. [3/11/16]

Ransomware takeovers of individual machines are going for $300 to $500 per machine. But some payouts, like the $17,000 ransom paid by Hollywood Presbyterian Hospital last month, go for much more. The reason 2016 will be the year ransomware holds America hostage is that those trying to defend us against it can't get their act together. [3/10/16]

With cybersecurity being the point of interest for many people in recent years, it's easy to forget about physical security. With the recent observation of funds being reallocated to support cybersecurity, where does the credit union stand when it concerns face-to-face threats of violence? [3/9/16]

Eliott C. Ponte, Regulatory Compliance Counsel at NAFCU, writes of an experience where he was a victim of phone fraud. For most, this could be an alarming experience. Those who manage to handle the situation responsibly can protect their financial well-being. But those who let their emotions take control may accidentally release information they may regret later. Here are some resources to help prepare for these situations. [3/9/16]

The FDIC releases a new bank customer guide to cybersecurity that includes tips for preventing online fraud and theft. The new guide includes resources that can help educate consumers on how to protect themselves from online criminals. [3/9/16]

Sen. Dean Heller requested that the FSOC and the FFIEC coordinate their efforts for a more consistent examination approach. When firms have to constantly adjust and educate regulators to adhere to new sets of regulatory requirements regarding cybersecurity, this diverts critical resources and ultimately distracts from actually fighting cybercrimes. [3/8/16]

At this year's National Consumer Protection Week, NCUA Board Chairman Debbie Matz urged credit unions to share the agency's online consumer resources with members. "Knowledge is power, and financial education is the first line of defense a consumer has against a fraudster," Matz said. [3/8/16]

A California credit union receives a call from a reporter about an ongoing hack of its website, and laughs it off as a scam, while the hack goes on, potentially exposing member passwords. A few days later, the reporter gets a sheepish call from the CU's VP of information systems. [2/26/16]

This round-up of cybercriminals who got caught includes an item about a Ukrainian citizen who stole bank credentials and payment card data from U.S. citizens and corporations and used a 13,000-strong botnet and Zeus malware in the attacks. He could be looking at anywhere from two to 20 years. [2/25/16]

Imagine an army of bots making more than 300,000 login attempts from thousands of IP addresses trying to hack into your user accounts. The success rate is not very high, only 8%, but weak passwords definitely make the bots' job easier. [2/24/16]