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Blog: Massive Identity Theft Exposes Troubling Trend
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#2
trevor7 
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Posted 06 August 2008 - 12:17 PM
I totally agree. America's companies need to be more for prevention, and not just detection. I have seen where Banks and financial institutions have to be in compliance with "the red-flags ruling". A part of this compliance is initial risk assesment and identity theft protection (Provided by Secure Identity Systems). I think we are starting to realize the importance of protection. I just don't know if we are moving at the speed hackers are.
#3
mccartyseanm
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Posted 06 August 2008 - 02:55 PM
Whether, or not, they "wake up", I find no compunction, or need, to spend another dime with these thoughtless corporations; it's the only weapon we have other than our own security efforts
#4
andrewsmhay
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Posted 07 August 2008 - 08:11 AM
As a security professional with a network security provider, we are definitely seeing this as a growing trend. The problem is a failure in the upper echelons of management. Up until recently they didn’t see security as a "money maker" so it is was usually put on the back burner until "guests" (attackers) show up "hungry" (ready to rob you blind). Let me throw this food scenario at you....
You decide to have a dinner party and invite the entire office. You know that there is one guy you work with who you can't stand but you know you can't limit the invite for fear of offending him. What you can do, knowing that he is allergic to shell fish, is state that your dinner party is going to be a clam bake or lobster boil. This implemented "safeguard" deters the unwanted guest from attending as he doesn't want to end up in the hospital. Another party saved by the Lobster Firewall.
Now back to blaming management. Since security isn't seen as a money maker its very hard for management to justify spending money on something that "might" help deter an attacker. As a security professional you can never guarantee that a new firewall will provide 100% protection at your perimeter or an IDS will detect every malicious attack, but are you willing to take that risk and have one of your guests end up in the hospital? I think not.
You decide to have a dinner party and invite the entire office. You know that there is one guy you work with who you can't stand but you know you can't limit the invite for fear of offending him. What you can do, knowing that he is allergic to shell fish, is state that your dinner party is going to be a clam bake or lobster boil. This implemented "safeguard" deters the unwanted guest from attending as he doesn't want to end up in the hospital. Another party saved by the Lobster Firewall.
Now back to blaming management. Since security isn't seen as a money maker its very hard for management to justify spending money on something that "might" help deter an attacker. As a security professional you can never guarantee that a new firewall will provide 100% protection at your perimeter or an IDS will detect every malicious attack, but are you willing to take that risk and have one of your guests end up in the hospital? I think not.
#5
SashaVu
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Posted 08 August 2008 - 04:52 PM
Troubling --YES I was a victim of identity theft 2 years ago. My SIL is a lawyer and helped me to restore it, a nasty 9 month ordeal. Well 41 mil cc's later...the gov finally stands up to notice. It's like the town that doesn't put up a stopsign where needed till someone has a fatal accident there. RIDICULOUS
One-step ahead ---YES either secure yourself, by due diligence and monitoring or invest in an ID Theft Package - several available to suit your need. Suze Orman even new to package up TrustedID and serve it up on QVC to mil of people. Brilliant even she saw it coming.
One-step ahead ---YES either secure yourself, by due diligence and monitoring or invest in an ID Theft Package - several available to suit your need. Suze Orman even new to package up TrustedID and serve it up on QVC to mil of people. Brilliant even she saw it coming.
#6
Roger17
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Posted 09 August 2008 - 08:40 PM
Banks do have option to deter virtually all fraud crimes simply by making signature and PIN systems reliable as proposed on website www.xwave.co.uk
Why would anyone get tempted to do identity fraud when they know that their signature personalised with their ID sticker will expose their identity?
Why would anyone get tempted to use stolen or skimmed cards when they know that they will not be able to activate the transaction without new security code which will change to a new value after every transaction?
This system will also eliminate the need for us to protect our personal an card details since fraudsters will not be tempted to misuse these stolen details.
Organisations would make their customers personalise signatures by letting them use mobile phone size device which will capture image and activate printer to print their ID sticker virtually instantly.
This KEY and PIN system could be treated like international ID card since it will personalise signature and PIN to the right individual in any country in the world.
We hope that the banks and government will support and exploit proposed system before it is too late to stop a fraud boom.
Why would anyone get tempted to do identity fraud when they know that their signature personalised with their ID sticker will expose their identity?
Why would anyone get tempted to use stolen or skimmed cards when they know that they will not be able to activate the transaction without new security code which will change to a new value after every transaction?
This system will also eliminate the need for us to protect our personal an card details since fraudsters will not be tempted to misuse these stolen details.
Organisations would make their customers personalise signatures by letting them use mobile phone size device which will capture image and activate printer to print their ID sticker virtually instantly.
This KEY and PIN system could be treated like international ID card since it will personalise signature and PIN to the right individual in any country in the world.
We hope that the banks and government will support and exploit proposed system before it is too late to stop a fraud boom.
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