Wednesday, April 9, 2014

ATMs: cybercriminals’ favorite way to plunder your bank account


“The evolution that’s going on is an increase in attack sophistication and intensity, where fraudsters are analyzing the whole payments ecosystem, finding the weak points, and exploiting those.” Financial fraud expert Tom Wills speaks about those crime schemes that hack bank accounts, clone credit and debit cards or steal other people’s identity in order to plunder their accounts. This threat is increasingly more common, so both financial authorities and banks are under alert.
Probably this trend has something to do with the growing number of security breaches and information leaks that took place last year. According to Symantec, in 2013, there were 62% more breaches than in 2012. It is significant that the number of identities exposed have increased from 93 million two years ago to 552 million last year.
Undoubtedly, social networks and email are important risk-vectors. Hackers make use of social engineering to trick users, so, they manage to steal their personal information or infect them with malware specially designed for data theft. For this reason, Osterman Research released a guide of Best security practices for social media, email and the Internet.
Nevertheless nowadays there are some means to prevent a cyber criminal impersonating another person. Electronic signature is one of them. In this regard, the companies Verbio and Astrea work together to take it to a step further and turn it into an vocal electronic signature, which means that voice biometrics could be enough to sign a legal procedure .
In any case, you can never say that a system is 100% secure. Over time, some flaws will be discovered like the one we learnt yesterday on the OpenSSL cryptographic library. Google also had to fix 31 bugs in Chrome and WordPress just released version 3.8.2. of its popular content management system to address 9 security issues.
So each of us must always keep our software regularly updated and be aware of the latest cybersecurity news. A simple way to do it is to follow us through any of our channels, and also here on our blog.
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