ISR News: 2009 - Year of the Insider Threat
Excerpt From BankInfoSecurity.com
Is 2009 the Year of the Insider Threat? Last August’s arrest of a Countrywide employee in California illustrates the potential impact of a single insider with access to sensitive information. The FBI charged the former employee with taking 2 million names and personal information from the mortgage bank and selling them for a profit.
Another example: Last month’s indictment in federal court of an ex-consultant at Fannie Mae for allegedly placing a logic timebomb on the mortgage giant’s computer systems last October. If not discovered, this trap would have wiped out all the company’s 4,000 computer servers.
The increased number of employers handing out pink slips doesn’t help quell the threat, with a record number of people on the unemployment lines and others at work worried about their own positions. “We’re going to see some insider events where insiders are tempted enough by money to enable these compromises to take place from outsiders, allowing access to payment data and account information,” says Mike Urban, Senior Director of Fraud Solutions at Fair Isaac, predicts.
The areas once thought separate — financial fraud and information security — are converging, he notes. “People are laid off, you’ve got fewer people doing work — a lot of things that would be normally picked up, or watched or noticed will not be because the person that used to do that isn’t there anymore,” Urban says.
Full Article: BankInfoSecurity.com
Filed under: Breach, Class Action Lawsuit, D&O Liability, Financial, ISR News, Insider Threat, hackers, identity-theft, malware, national security, privacy
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