Banks: Losses From Computer Intrusions Up in 2007

["Paul Ferguson" <fergdawg () netzero net>]

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Via Security Fix.

[snip]

U.S. financial institutions reported a sizable increase last year in the
number of computer intrusions that led to online bank account takeovers and
stolen funds, according to data obtained by Security Fix. The data also
suggest such incidents are becoming far more costly for banks, businesses
and consumers alike.

The unusually detailed information comes from a non-public report assembled
by the Federal Deposit Insurance Corporation, the federal entity that
oversees and insures more than 9,000 U.S. financial institutions. The
statistics were gathered as part of a routine quarterly survey called the
Technology Incident Report, which examines so-called suspicious activity
reports (SARs). In this case, SARs that were filed in the 2nd Quarter of
2007. SARs are federally mandated write-ups that banks are required to file
anytime they spot a suspicious or fraudulent transaction that amounts to
$5,000 or more.

A copy of the report was provided by a trusted source who asked to remain
anonymous. An FDIC spokesperson could not be immediately reached for
comment.

[snip]

More:
http://blog.washingtonpost.com/securityfix/2008/02/banks_losses_from_comput
er_int.html

- - ferg

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--
"Fergie", a.k.a. Paul Ferguson
 Engineering Architecture for the Internet
 fergdawg(at)netzero.net
 ferg's tech blog: http://fergdawg.blogspot.com/


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