Cyberspace in the 21st Century demands that organisations know where their information is, how secure it is and what measures are necessary, or sufficient, for effective data protection? The Senetas Leadership team comes together to share news and views related to information security and data protection in the face of new and emerging cyber threats. They comment on the latest trends and business strategies that minimise the risk to personal and corporate information.
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By Julian Fay
London - The RSA Conference was told today that russian gangs were now guaranteeing to extract the symmetric encryption keys that secure EFTPOS devices, also known as swipe card readers, within 3 months for $US250,000.
Cybercriminals are having to find ways to be more inventive after the global financial crisis drastically slashed the going rate for stolen credit card records from $10-$15 oer record 18 months ago, to only 50 cents today. So once they crack the EFTPOS device they then swap it in a restaurant or hotel, at the same time stealing those business cards patrons sometimes place in the "kucky draw" glass fish bowl. Next they data match your card detail against your business details and commence to hack.
Verizon Business forensics expert, Matt van der Wel, was discussing his company’s 2009 analysis of data breaches resulting in actual loss. They found 285 million records breached in 90 confirmed cases, which is more compromised data in one year than in the previous four years (230 million).
Although he would not put a dollar value on losses, van der Wel confirmed the trend was towards stealing money from the financial sector.
“I just finished a really large case where criminals were active in a very large network for over a year and when they finally hit they really did steal a lot of money…but it is much harder to steal than information,” he said.
Only a third of the cases investigated were in United States with the rest in Canada, Europe, Brazil, Indonesia, Philippines, Japan, and Australia.
In summary Verizon found:
- 99.6% of records were compromised from servers and applications
- 74% resulted from external sources, 20% internal
- 69% were discovered by a 3rd party
- 67% were aided by significant errors
- 32% implicated business partners
Restaurant and retail swipe card machines were the softest target, he said, helped by the Russian gang's guarantee, so van der Wel recommends against ever putting your card in the fish bowl.
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