When the bankers are away, the hackers will play
Despite banks' misgivings, they're beginning to work together to share information to identify and stem hacker attacks, which have increased dramatically in the past two years, according to an article in The Wall Street Journal, "Banks Unite to Battle Online Theft," by Suzanne Kapner. A graphic example of banks' vulnerability was demonstrated in 2010 when security experts from major financial firms gathered in San Francisco for a conference. "As panel after panel discussed cyberthreats and how to guard against them, hackers carried out a real-life attack. Using what has come to be known as the Zeus Trojan — a type of software that infects computers and covertly tracks keystrokes to steal personal data — thieves penetrated bank computer firewalls and stole millions of dollars from their customers," according to the article.
Spam, spam, spam, spam…
Everyone is taking spam seriously. According to the Jan. 4 article in The Wall Street Journal, "Spam Finds New Target," by Geoffrey A. Fowler, Shayndi Raice and Amir Efrati, "In 2008, Facebook had just four engineers like Mr. Stein working on site integrity. Today, he works with a team of 30, plus a separate security team of 46 and another 300 focused on user issues. In all, some 1,000 of Facebook's 3,000 employees — including engineers, lawyers, user-operations managers and risk analysts — play a role in fighting spam in some capacity, the company says."
The ‘B' is close to the ‘M' on the keyboard
However, the news isn't always all bad. On Jan. 30, the Jakarta Globe reported that graft had robbed India of $238.6 billion in 2011, a shocking number considering that is 1/4 of the nation's gross domestic product. Actually, the newspaper had made an error in conversion, and the real figure was $238.6 million. Read the story (with the correction) "Corruption Costs Indonesia $238m in 2011."
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