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December 22, 2015

Banks Spend Big To Fight Cybercrime, Heighten Efforts To Supervise Employee Behavior

Banks are spending billions to battle cyber attacks, according to the Wall Street Journal. Much of the efforts focus on employees who unintentionally expose information to hackers. Many banks are now banning workers from using USB drives, warning them to be careful about what they post on social media, and telling them not to put “out of office” replies on emails. They are even sending fake spear phishing emails to see how many employees open them.

J.P. Morgan Chase & Co. sent a fake phishing email to more than 250,000 employees after getting hit with a breach that exposed data from 76 million households. About 20% of the employees clicked on the email.

J.P. Morgan [...]
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November 11, 2015

Three Charged with Masterminding the Single Largest Financial Cyber-Theft in U.S. History

U.S. prosecutors have charged three men in relation to the largest cyber-attack and theft of consumer data from a U.S. financial institution in history.

Three Israeli nationals have been charged with running a sweeping hack and fraud campaign that culminated in a massive breach of multiple financial institutions including JPMogran Chase & Co, the biggest bank by assets in the United States. The breach saw hackers gain access to the personal records of over 100 million people between 2012 and summer 2015.

Reuters reports that Israeli nationals Grey Shalon and Ziv Orenstein along with Joshua Samuel Aaron, a U.S. citizen living between Moscow and Tel Aviv, Israel have [...]

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