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The WiKID Blog

Viewing posts tagged Phishing and Fraud

schwarzenegger-vetoes-pci-esque-legislation

Legislation that would have made merchants responsible for card-reissuance and other identity theft costs was vetoed by Gov. Schwarzenegger.

etrade-to-offer-zero-liability-accounts

Kudos to ETrade for offering a "zero liability" account. I suspect this is an attempt to foil my prediction that brokerage accounts will be increasingly targeted by phishers. (Though, to be honest, they were getting off to a good start in Q4.)

Brokerage accounts are tempting. Most people (if they have brokerage accounts) have more in their stock accounts than in their bank account or savings. It's probably harder to determine if a payment leaving the account is fraudulent. With bank accounts, phishers target a larger number of users for smaller dollars amounts. With brokerage accounts, phishers aim for bigger dollars. From the BusinessWeek article:

incent-for-the-averages-insure-against-the

One the comments on Emergent Chaos about my post Incentive plan for an information security team was from Andrew Jaquith of the Yankee Group:

dns-and-mutual-authentication

Once again, Amit Klein has hacked DNS. Once again, we'll say if you are doing high-value web-based transactions, you should consider using Mutual Authentication for HTTPS.

dhs-predicts-more-brokerage-attacks

The DHS is joining in on one of my earlier predictions: Brokerage accounts will be increasing targeted in the coming year. According to their post they are tempting accounts because they typically have more money in them. Further, typical anti-fraud transaction analysis doesn't really work because of the infrequency of transfers.

I'm convinced that brokerage accounts and other heavy transactions accounts will need cryptographically secure transaction authentication in addition to session and host/mutual authentication.

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