JPMorgan and Other Banks Struck by Cyberattack
New York Times (08/28/14) P. B1 Perlroth, Nicole
JPMorgan Chase and at least four other U.S. banks were the targets of what security experts say was a sophisticated cyberattack. In a series of coordinated attacks this month, hackers infiltrated the banks’ networks and siphoned off gigabytes of data that included checking and savings account information. The FBI and several security firms are involved in the investigation, although the motivation and origin of the attacks remain unclear. Earlier this year, Dallas-based security firm iSight Partners warned that companies should be prepared for cyberattacks from Russia in retaliation for Western economic sanctions, but Adam Meyers, head of threat intelligence at security firm CrowdStrike, said it was too soon to suggest that sanctions were the motive behind the attacks. Hackers may have been after account information, or information about a possible merger or acquisition.
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New Industry Group Tackles ATM Fraud
BankInfoSecurity.com (08/20/14) Kitten, Tracy
ATM manufacturers Diebold and Wincor Nixdorf are laying the groundwork for the formation of a new global industry group focused on thwarting ATM crime. The aim of this group is to establish industrywide technical standards for secure ATM terminals and ATM components and provide a platform for information sharing about attack scenarios and emerging threats, said Joerg Engelhardt, vice president of global product management for Diebold.
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Security Becoming Less of a Luxury
Security Management (08/14) Gips, Michael
Security spending has seen significant growth since 2011, with healthy growth projected in both operational and IT security through 2017. An upcoming survey and report prepared by ASIS International and the Institute of Finance and Management, called “The United States Security Industry: Size and Scope, Insights, Trends, and Data, 2014-2017,” updates the original 2012 ASIS/IOFM survey. Private-sector spending jumped from $282 million in 2012 to $319 billion in 2013 to a projected $341 billion in 2014. Data drawn from surveys of 479 security end users, manufacturers, and service providers, predicts $377 billion in private-sector security spending in 2015, another 10 percent year-over-year increase. Most spending growth is driven by smaller firms with revenues of $1 million to $10 million. Operational security budgets for such businesses are expected to increase 17 percent from 2013 to 2015, with IT security expected to grow by 15 percent in the same period. Spending will include video surveillance, access control, alarm monitoring, IT security software, consulting services, employee screening, training, perimeter protection, and systems maintenance.
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Tips and Strategies for Securing Datacenters
Security Today (08/26/14) Hill, Ginger
The first step in establishing data center security should focus on the physical security of the perimeter, which can add another layer of security between the data and potential hackers. Facilities should develop a physical security policy that every employee is aware of and follows. This may involve biometric access or security guards, as well as closed-circuit TV cameras facing each of the outside walls. Some cameras also should focus on the ceiling, which intruders may try to use to gain entry. Data centers should also separate loading and storage areas to prevent interference with the equipment. Servers should be protected even if they do not contain any data, as they are still susceptible to an attack if a malicious individual can gain physical access to install or implant hacking technology into servers. Facilities also should keep their power and network cabling neat, which can employees avoid mistakes that could compromise data integrity.