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Preventing Data Theft in Financial Services  

   
 

British consumers demand criminlization of data breaches   -  25 September 2008
Categories featured in - Data Theft | News
 

Nearly four out of five people in Britain don't trust the organizations that hold their personal data to keep it safe. Of more than 1,600 individuals questioned, some 89 percent believed that reckless data security breaches should be a criminal offense. The majority of respondents felt that those guilty of avoidable data security breaches should be imprisoned.

93 percent of those surveyed said they would not be willing to give their personal data to an organization that had already reported a previous security breach.

 

UK police lose memory stick with “terrorist” information   -  16 September 2008
Categories featured in - Data Theft | News
 

UK newspaper, the Daily Mail, has revealed that a police officer in the West Midlands has lost a 4GB memory stick reported containing top-secret information on terror suspects. The device was lost when the officer took the device on patrol.

At least one property has been raided in the search for the lost USB stick, but so far it has not been found.

Although police would not confirm it, the newspaper believes the device held information on a number of suspected terrorist cells being monitored by police.

There is no word - and hence nothing to suggest that the data held on the USB was encrypted, meaning that anyone who now has the device has access to some potentially highly-sensitive data. The security breach is serious enough that the UK Home Secretary, Jacqui Smith has been informed.

This is yet another high-profile example of how allowing sensitive data to be copied to inherently insecure devices, with no security precautions, can be a seriously risky practice.

 

88% of IT admins admit they would steal data   -  10 September 2008
Categories featured in - Data Theft | News | Opinion
 

New research announced this week revealed that 88 percent of IT Administrators would have no problems stealing confidential information from their employer's network if they were fired. And with these employees privy to all areas of the network, one can only imagine the kinds of data they could easily lay their hands on...

While the company that sponsored the research believes this is a good reason to change passwords on a regular basis, WatchYourEnd also strongly recommends organizations invest in technologies that can be used to stop the unauthorized copying of data from the network to portable storage devices such as USB sticks, MP3 players and even CDs or DVDs.

Of the 300 IT Administrators surveyed, only 12 percent claimed they wouldn't dream of helping themselves to company data.

 

BBC loses child data on USB sticks   -  8 August 2008
Categories featured in - Data Theft | News
 

The BBC in the UK has admitted losing a laptop and several memory sticks containing names, addresses and mobile phone numbers of children. Apparently, the information was stolen from a van belonging to a production company undertaking work for the broadcaster's children's channel, CBBC.

With instances of data theft, pedophilia and ‘internet grooming' becoming more prevalent in the media, it is particularly shocking that an organization of the BBC's standing has allowed such a breach to occur.

While the BBC claims that there is no evidence the data has been misused, there is also no indication that either the laptop or memory sticks were equipped with any security measures, such as data encryption or access control.

 

Countrywide loses two million records to USB theft   -  7 August 2008
Categories featured in - Data Theft | Hacking | ID Theft | News
 

US home mortgage lender Countrywide has reportedly suffered insider data loss when an employee copied up to two million confidential records onto a flash drive.

For more than two years, the employee was able to steal up to 20,000 records a time by copying files from the corporate network to a USB flash drive. It is thought that target customers for the data, which included mortgage application rejects, could have included other mortgage suppliers, as well as identity theft fraudsters needing social security numbers to open bank accounts.

The suspect, who had worked as a senior financial analyst at Full Spectrum Lending, Countrywide's subprime lending division, was arrested by the FBI on Friday, more than two years since his data theft efforts began.

 

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