Today’s Growing Cyber Threats

cybersecurity

Earlier this week, in what some are calling the “biggest internet heist in history”, Russian hackers amassed over one billion username and password combinations and more than 500 million email addresses.

This comes not even a year after 40 million credit card numbers were stolen from Target and cyber criminals attacked Adobe’s databases – causing experts and consumers alike to wonder if keeping personal information out of the hands of thieves is a losing battle.

What do these thieves want with your usernames and passwords? For the Russians in particular, they were using the logins to spam weight loss ads on social media accounts for, what is believed to be, third party groups. Although some credentials have been sold to the black market, many remain in the hands of the Russian Gang. Should these professional criminals decide to sell the information, it would be very lucrative for the gang.

While a credit cards can be cancelled, things such as an email address or social security number are easy targets for identity theft. Consumers tend to use the same email and passwords for several different websites. Criminals take these credentials and test them on websites that hold valuable information, such as banks or brokerage firms.

“Companies that rely on usernames and passwords have to develop a sense of urgency about changing this,” said Avivah Litan, a security analyst at the research firm Gartner. “Until they do, criminals will just keep stockpiling people’s credentials.

This is where DSS’s AuthentiSite Solution comes in. By implementing AuthentiSite, consumers will know they are on a trusted website, and brand owners will be able to verify it is a customer, not a hacker, on their website.

For example; John Smith will be able to verify he is on his trusted banking website (not a fake, phishing site) and the bank will be able to verify that John Smith is accessing his own account.

It all starts with our patented Prism mark. This mark’s security technology is tied into our secure server making it virtually impossible for criminals to duplicate the mark on illegal or fraudulent websites.

If you are interested in learning more, please sign up for our free, informational webinar on September 8th at 2pm EST. During this webinar, industry experts will discuss AuthentiSite and how the program is being continuously developed to end cyber attacks.

To register, click here.

In the meantime, to learn how AuthentiGuard can help protect brand owners and consumers alike, please visit www.AuthentiGuard.com

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The Financial Industry’s Phishing Problem

According to an article by SecureList, the rate at which cyber-criminals are attacking the financial industry has doubled since 2012. 

How are these scammers doing it? One word: phishing

Phishing, or creating fake copies of sites to obtain confidential user data, is a common cyber threat. This is largely due to the fact that to deploy the most simple pushing campaign, cyber-criminals do not need to have programming knowledge. As phishing is based primarily on forged websites, it’s enough to just have web design skills.

For example, an article by SmartImageMoney showed how one phishing attack that used a Virginia based payment processing company sent out 167 million forged emails in a single day. The emails contained company imagery and content taken directly from their website – luring victims in with the company’s well known, and trusted, logo.

Widespread brand recognition is one of the mail tools of the phishers: the more popular the brand, the easier it is for cyber-criminals to use its name to lure users to fake websites. In 2013, 25 banks attracted about 60% of all attacks. These 25 organizations are the largest international banking brands around, operating in dozens of countries worldwide.

The worst part? Depending on the type of phishing, cyber-criminals can net up with $70,000 of consumer’s money from a single attack.

With numbers such as these, it is evident that phishing isn’t going anywhere and that consumers can expect the number of incidents to steadily increase as more money is made. To fight back organizations need to actively educate their consumers while taking advantage of systems that offer both website verification and two-factor authentication. 

To learn how to financial institutions can help fight the threat of phishing, please join our webinar here or visit www.AuthentiGuard.com