Tackling Insider Fraud From The Outside-In

Tackling Insider Fraud From The Outside-In

Tackling Insider Fraud From The Outside-In

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InfoSec News: Tackling Insider Fraud From The Outside-In: http://www.darkreading.com/insiderthreat/security/client/showArticle.jhtml?articleID=228000516
By Robert Lemos Contributing Writer DarkReading Nov 01, 2010
IT managers spend a lot of their time dealing with malicious code and violations of corporate policy, but insider fraud in the workplace is a major problem that frequently shows up on their radar screen, as well.
In 2009, the average company lost nearly 5 percent of its revenue to fraud perpetrated by employees, according to the 2010 Report to the Nations on Occupational Fraud and Abuse (PDF). Asset fraud -- stealing company resources -- represented 90 percent of the incidents, but only averaged $135,000 in losses per company. On the other hand, financial fraud makes up only 5 percent of all cases of corporate fraud, but it is the most damaging, with a median loss of more than $4 million, according to the report, which is published every two years by the Association of Certified Fraud Examiners (ACFE).
Employees can be tempted by their privileged access to data, says Ben Knieff, director of product marketing for fraud products at Actimize. "They have a high level of access, which gives them a greater opportunity to commit fraud," he says.
The report found that 85 percent of fraud was committed by individuals with no prior records of abuse. Even so, there are a number of proactive steps that companies can take.
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The unvarnished truth about unsecured Wi-Fi

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InfoSec News: The unvarnished truth about unsecured Wi-Fi: http://news.cnet.com/8301-27080_3-20021188-245.html
By Elinor Mills InSecurity Complex CNet News November 1, 2010
Chances are you don't leave your front door unlocked. And you shouldn't leave your Wi-Fi network unsecured either.
Many of you may have heard this before, but many still seem to not be doing anything about it. You should. Here's why. With a $50 wireless antenna and the right software a criminal hacker located outside your building as far as a mile away can capture passwords, e-mail messages, and any other data being transmitted over your network, and even decrypt data that is supposedly protected.
Someone could also join the network and launch attacks on your computer and any other devices using the network at that time. If file sharing has been left on or the personal firewall is misconfigured it's relatively easy to access the computer via an open Wi-Fi network. Someone could upload an executable program to a file on your hard drive that steals data or just leaves a back door for future access. And if you are using the network to connect to a corporate network through a VPN (virtual private network) an attacker can get into the corporate system too.
"The most dangerous thing is a direct attack," Don Bailey, a security consultant at iSec Partners who is also an expert on telecommunications snooping, told CNET. "The threat is not only that your traffic can be sniffed, but that an attacker can get access to all your data and connections on your computer, even those supposedly secured by SSL (Secure Sockets Layer) and TLS (Transport Layer Security) encryption."
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[Dataloss Weekly Summary] Week of Sunday, October 24, 2010

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InfoSec News: [Dataloss Weekly Summary] Week of Sunday, October 24, 2010: ========================================================================
Open Security Foundation - DataLossDB Weekly Summary Week of Sunday, October 24, 2010
10 Incidents Added.
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ATM Fraud: Skimming is #1 Threat

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InfoSec News: ATM Fraud: Skimming is #1 Threat: http://www.bankinfosecurity.com/articles.php?art_id=3053
By Linda McGlasson Managing Editor Bank Info Security November 1, 2010
Will 2011 be "The Year of the Skimmer?"
After an uptick in skimming incidents already in 2010, security experts say that we will see even more skimming in the United States in the months ahead, particularly against ATMs. Lingering magnetic-stripe technology, rather than EMV chip standard used in Europe and elsewhere, is to blame, experts say.
While the average ATM skimming attack spans a timeframe of between one and two hours, losses per incident average $30,000, according to ADT Security Solutions, which provides anti-skimming solutions for the financial industry. ADT also estimates that ATM skimming attacks cost financial institutions and their customers 10 times more than losses suffered during robberies. According to ACI Worldwide's Card Fraud Guide, overall card fraud continues to escalate. ACI's report shows U.S. credit and debit card losses continue to increase. In 2004, credit card losses accounted for $1.8 billion and rose to $2.04 billion in 2007. Debit card losses accounted for $810 million in 2004 and rose to $1.05 billion in 2007.
Tom Wills, a fraud analyst at Javelin Strategy & Research, says criminals responsible for the skimming at ATMs and POS devices have been caught this year, but their arrests are no deterrent. "2010 has been a good year for law enforcement," he says. "But as long as there are vulnerable devices out there, the bad guys will continue to target and attack them."
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5B

Career Bobs

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