Hacked: Hacking Finance

Suffering Repeated Account Hacks, Krebs Urges PayPal To Modernize Its Customer Authentication

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Lester Coleman

Lester Coleman

Lester Coleman is a veteran business journalist based in the United States. He has covered the payments industry for several years and is available for writing assignments.


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Suffering Repeated Account Hacks, Krebs Urges PayPal To Modernize Its Customer Authentication

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This article was posted on Thursday, 20:02, UTC.

Brian Krebs, the author of the Krebs On Security website, had his PayPal account hacked on Christmas Eve by a hacker who tried sending his funds to an ISIS-connected hacker gang. In an article on his website, Krebs describes his efforts to fix the problem with PayPal, but he views it as representative of the current state of security for many companies. He says many organizations, including financial institutions, are “woefully behind the times” in fighting identity theft.   In learning how the hacker had gotten into his PayPal account, Krebs found the company was relying on static identification information and…

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Lester Coleman

Lester Coleman

Lester Coleman is a veteran business journalist based in the United States. He has covered the payments industry for several years and is available for writing assignments.

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