Wall Street & Technology: Blog

How Secure is India?

Wed, 14 May 2008 08:46:39 -0500

One of India's first surveys on security across the country's financial institutions has found that 30% of banks reported to have been victims of identity theft during the last year.

Sophisticated Web Attacks Force Banks to Re-Think

Wed, 23 Apr 2008 15:51:55 -0500

The sophistication of increasingly widespread fraudulent techniques such as Man-in-the-Browser attacks are forcing financial institutions to re-assess how they fight electronic fraud.

Could Lehman Bros have prevented latest fraud?

Mon, 31 Mar 2008 17:49:12 -0500

Lehman Bros has filed a lawsuit against Marubeni Corp., the Japanese trading giant, responsible for defrauding the New York-based investment bank out of US$352 million through a scam carried out by two rogue employees.

ISO Promotes Biometric Standard for Financial Firms

Tue, 12 Feb 2008 11:25:10 -0500

With the aim of boosting security in the financial services industry, ISO, the world's largest developer of international standards, has issued a new biometric standard for financial firms.

Cyber Crime Film Draws Attention

Wed, 06 Feb 2008 13:09:25 -0500

Several dozen financial industry and technology professionals recently gathered at the Tribeca Grand Hotel in New York, to attend a private advanced screening of "The New Face of Cybercrime," a documentary film by Academy Award-nominated filmmaker Fredric Golding.

Banks Must Heighten Security Following New Round of Attacks

Wed, 16 Jan 2008 13:50:33 -0500

A security expert says financial institutions must adopt a strong multi-factor security solution, which can protect them from all kinds of online attacks and do not need to be re-written when a new threat is identified.

iPhone Gets Secure VPN Solution

Tue, 11 Dec 2007 12:00:25 -0500

In a bid to turn Apple�s iPhone into a business tool, Astaro, a unified threat management solution maker, announced it will now offer iPhone support to VPNs controlled by its Astaro Security Gateway appliance.

Intelligence Chief Warns Banks of Chinese Espionage threat

Mon, 03 Dec 2007 14:40:14 -0500

UK intelligence network MI5 has contacted 300 chief executives and security experts at leading British financial institutions, warning them that Chinese state organizations may be spying on them.

Upsurge of Attacks Against Banking Sites

Mon, 26 Nov 2007 17:05:35 -0500

Security firm F-Secure has warned of an upsurge in attacks against banking sites, using a new generation of malicious codes in a technique called "Man in the Browser".

Top Level Financial Execs Targets of Cyber Attack

Tue, 20 Nov 2007 14:58:59 -0500

In the last 24 hours, there has been a spike in malicious attacks against banks, and in particular against C-level executives at financial institutions around the world.

iPhone: Not Right For Financial Industry Now, But Survey Shows It Could Be In Future

Mon, 24 Sep 2007 17:40:32 -0500

According to a new survey, most financial services firms are not currently considering using Apple's iPhone on a corporate level � but this could change in the future.

The Danger of Revealing Too Much on Facebook...

Thu, 20 Sep 2007 17:08:21 -0500

At Wall Street and Technology's Executive Peer Roundtable on Security Risk this week, delegates pressed financial firms to consider the security threat posed by employees -- or potential employees -- using social networking sites, such as Facebook and MySpace.

It is critical to secure applications and data inside a company, they said. But it is equally important to keep a careful eye on communications between employees and the outside world.

Why TD Ameritrade�s Data Breach Is So Worrisome�

Mon, 17 Sep 2007 18:12:55 -0500

Last week, TD Ameritrade became the latest financial firm to hit the headlines after suffering a data breach, with over 6.3m customer records stolen. Other financial institutions have also reported data breaches recently: these include JPMorgan, Fidelity Investments and Ameriprise Financial. These incidents generally stemmed from stolen laptops or careless employees (who, in the case of JPMorgan threw a bunch of clients' financial paperwork in the garbage in the street).

So, what makes TD Ameritrade�s breach so different?

New Security Alert: TD Ameritrade suffers Data Breach, Over 6.3m Records Stolen

Fri, 14 Sep 2007 15:59:07 -0500

TD Ameritrade Holding Corp said contact information for more than 6.3 million customers was stolen after one of its databases was hacked into.

The online broker apologized to its clients and said the breach stemmed from unauthorized code in its systems that allowed hackers to access an internal database. The discovery � and elimination of the unauthorized code � was made by the brokerage following an internal investigation of stock-related SPAM.

Four Pump-and-Dump Scammers Plead Guilty

Tue, 11 Sep 2007 00:11:00 -0500

Four men have pleaded guilty to charges relating to a pump-and-dump market manipulation scheme that netted more than $20 million in profit. According to the U.S. Department of Justice, securities of more than 15 publicly traded companies had their prices inflated through deceptive trading practices and misinformation spread through false statements in press releases and spam e-mails sent to tens of millions of e-mail addresses.