Saturday, October 31, 2009
October News & Views Published Below
Friday, October 23, 2009
100 Dirtiest Sites to Avoid for Safety's Sake
Web users could be putting themselves at risk by surfing to some sites that contain more than 18,000 different security threats each, says Symantec.
The security vendor has compiled a list of this year's 100 "Dirtiest Websites." Just by visiting these sites, Web users could see their PCs infected with viruses or even have their sensitive personal data stolen by cyber criminals, even if they don't download or click on anything in particular.
Symantec said the average number of threats per malicious site is 23. However, all of the websites that made the top 100 list have on average 18,000 per site, with 40 percent having over 20,000 security threats. The company also said that three quarters of the sites have been distributing malware for over six months.
As expected just under half of the websites offered adult content, but what is more surprising is that other 52 websites covered a random selection of topics such as deer hunting, catering, figure skating, legal services and electronics.
"There has been exponential growth in the number of online threats that are constantly evolving as cybercriminals look for new ways to target your money, identity or assets. In 2008, most new infections occurred while people were surfing the web," said Marian Merritt, Symantec's internet safety advocate.
The security vendor has compiled a list of this year's 100 "Dirtiest Websites." Just by visiting these sites, Web users could see their PCs infected with viruses or even have their sensitive personal data stolen by cyber criminals, even if they don't download or click on anything in particular.
Symantec said the average number of threats per malicious site is 23. However, all of the websites that made the top 100 list have on average 18,000 per site, with 40 percent having over 20,000 security threats. The company also said that three quarters of the sites have been distributing malware for over six months.
As expected just under half of the websites offered adult content, but what is more surprising is that other 52 websites covered a random selection of topics such as deer hunting, catering, figure skating, legal services and electronics.
"There has been exponential growth in the number of online threats that are constantly evolving as cybercriminals look for new ways to target your money, identity or assets. In 2008, most new infections occurred while people were surfing the web," said Marian Merritt, Symantec's internet safety advocate.
Thursday, October 22, 2009
Wife's First Hunting Trip
My sweet husband invited me to go hunting with him this year.
I couldn't believe it...the first time ever! I never thought he'd be
willing to share his 'guy time' with me. And being the thoughtful
man that he is, he even gave me an opening day present. He
calls it 'The First Timers Lucky Hat'. I'm so fortunate to be married
to him. I have attached a picture of me in my lucky hat.
I couldn't believe it...the first time ever! I never thought he'd be
willing to share his 'guy time' with me. And being the thoughtful
man that he is, he even gave me an opening day present. He
calls it 'The First Timers Lucky Hat'. I'm so fortunate to be married
to him. I have attached a picture of me in my lucky hat.
Wednesday, October 21, 2009
Take a look at something technologically entertaining
ServerQuest II game
Let's take a look at something technologically entertaining. Do you remember playing the vintage computers games King's Quest or Leisure Suit Larry? If so, you should enjoy Microsoft TechNet's ServerQuest II game. It emulates the same sort of pixilated graphics (Figure C) and cheesy humor as those classics, but it's aimed at IT professionals and computer specialists.
In the game, which is created with Silverlight and runs in your browser, you play an IT pro (either Matt or Alicia) whose objective is to keep the network running smoothly while encountering a host of technical problems that are presented as games and puzzles, ranging from the absurd to things you might encounter in the real life of an IT pro. As you work through the tasks, you'll learn about and use Microsoft technologies to solve problems, encounter hidden Easter Eggs, earn geek points, and get to post your high scores for others to compete against.
The game is really very humorous -- and you might even learn some interesting troubleshooting techniques as you play.
Click here: http://www.microsoft.com/click/serverquest/
75 interesting credit union name changes in 2009
Callahan & Associates, the credit union industry’s leading analytics firm and publishers of CreditUnions.com, have just released their 2010 Credit Union Directory. Comparing this year’s directory against last year’s, The Financial Brand has noted 75 substantive name changes.
From this year’s new names:
http://thefinancialbrand.com/2009/10/21/2009-cu-name-changes/
From this year’s new names:
- 11 credit unions included the word “Community”: Arlington Community, Champion Community, Community, Community Driven, Memberfocus Commmunity, My Community, NMTW Community, Prestige Community, Total Community, Valley One Community and Vue Community.
- 7 reduced their names to acronyms: CEFCU, CSE, MaPS, MCT, ME/CU, NMTW and USE.
- 7 are coined names: Altana, Aventa, Cinfed, Genisys, Meritrust, TruStone and Vue Community.
- 3 use the number “one”: Alabama One, Metro 1 and Valley One Community.
- 3 credit unions ditched the word “First” in their name, while one put it in: University First.
- 2 credit unions used alphanumeric constructions: Med5 and Metro 1.
http://thefinancialbrand.com/2009/10/21/2009-cu-name-changes/
Tuesday, October 20, 2009
Email is Social, and it’s not Going Anywhere
When consumers want to share something from the Internet with their friends or family, such as a video, link or article, what methods do they use? While social media is gaining ground on email, the latter still dominates as a sharing tool.
"Is _______ going to put an end to email?" It’s a question we ask every few years when a new technology comes along. RSS sparked the last wave of discussions and, of course, now it’s social. Will social media affect email? Definitely. Will it kill the medium? Far from it.
Email is the original opt-in tactic, while social and mobile are newcomers. And email works in tandem with most other tactics to increase engagement, deliver relevant content and build contact databases.
Dispelling the Myth that Social Media is going to Abolish Email
In the chart above, we take one view of how email is used to share information, because this activity is so central to social media sites. Email is dominant, even in this regard.
When we look at media use over the last 15 years, we see a pattern of aggregation and adoption rather than replacement. Some media suffer in the exchange, but none are eliminated entirely. More commonly, their uses become more refined.
For example, we may find that Twitter and Facebook gradually reduce our use of email to convey quick messages and content to social groups, but it’s far less likely that social media will replace email for commercial transactions, receipts and the like.
Email is the original opt-in tactic, while social and mobile are newcomers. And email works in tandem with most other tactics to increase engagement, deliver relevant content and build contact databases.
Dispelling the Myth that Social Media is going to Abolish Email
In the chart above, we take one view of how email is used to share information, because this activity is so central to social media sites. Email is dominant, even in this regard.
When we look at media use over the last 15 years, we see a pattern of aggregation and adoption rather than replacement. Some media suffer in the exchange, but none are eliminated entirely. More commonly, their uses become more refined.
For example, we may find that Twitter and Facebook gradually reduce our use of email to convey quick messages and content to social groups, but it’s far less likely that social media will replace email for commercial transactions, receipts and the like.
Pa. man charged with defrauding 3 CUs in ponzi scheme
A Pennsylvania man has been charged with operating a $2 million ponzi scheme that defrauded three credit unions, according to the Pennsylvania attorney general's office.
Eugene D. Miley, 58, is accused of selling fictitious certificates of deposit (CDs) to Moonlight CU, Worthington; VANtage Trust CU, Wilkes-Barre; and Stanwood Area CU, New Stanton. Miley allegedly served as a financial broker for the credit unions, offering to locate and purchase various high interest rate CDs. Miley used the money he received from the credit unions for his personal use. He also generated fake statements about the purchase, interest rates and redemption information for the CDs.
"Miley claimed to be helping his clients earn a good return on their investments, but this was simply an illusion," said Attorney General Tom Corbett in a statement. "As with other ponzi schemes, the money received from new clients was used to pay off older investors, or siphoned off for personal use, until the flow of money stopped--causing the operation to collapse and leaving victims with nothing more than empty promises."
Miley is accused of selling $2.08 million in certificates between 2006 and 2008. He sold $1.3 million to Moonlight CU; $594,000 to VANtage Trust CU; and $99,000 to Stanwood Area CU, according to the attorney general's office.
Miley has been taken into custody and will appear for a preliminary hearing Nov. 20.
He will be charged with one count of securities fraud for creating a scheme to defraud, a second degree felony punishable by up to 10 years in prison and a $1 million fine; and one count of securities fraud for the sale of unregistered securities, a third-degree felony punishable by up to seven years in prison and a $250,000 fine.
Miley also will be charged with three counts each of theft by deception and theft by failure to make required disposition of funds--all third degree felonies, punishable by up to seven years in prison and $15,000 fines.
Miley is not licensed to operate as a financial investment company, financial adviser or financial products dealer. The funds for his fraudulent investments were funneled through PNC Bank accounts belonging to him and his business. The transactions were conducted using a PNC Bank branch in Cranberry Township, Pa., Corbett said.
Eugene D. Miley, 58, is accused of selling fictitious certificates of deposit (CDs) to Moonlight CU, Worthington; VANtage Trust CU, Wilkes-Barre; and Stanwood Area CU, New Stanton. Miley allegedly served as a financial broker for the credit unions, offering to locate and purchase various high interest rate CDs. Miley used the money he received from the credit unions for his personal use. He also generated fake statements about the purchase, interest rates and redemption information for the CDs.
"Miley claimed to be helping his clients earn a good return on their investments, but this was simply an illusion," said Attorney General Tom Corbett in a statement. "As with other ponzi schemes, the money received from new clients was used to pay off older investors, or siphoned off for personal use, until the flow of money stopped--causing the operation to collapse and leaving victims with nothing more than empty promises."
Miley is accused of selling $2.08 million in certificates between 2006 and 2008. He sold $1.3 million to Moonlight CU; $594,000 to VANtage Trust CU; and $99,000 to Stanwood Area CU, according to the attorney general's office.
Miley has been taken into custody and will appear for a preliminary hearing Nov. 20.
He will be charged with one count of securities fraud for creating a scheme to defraud, a second degree felony punishable by up to 10 years in prison and a $1 million fine; and one count of securities fraud for the sale of unregistered securities, a third-degree felony punishable by up to seven years in prison and a $250,000 fine.
Miley also will be charged with three counts each of theft by deception and theft by failure to make required disposition of funds--all third degree felonies, punishable by up to seven years in prison and $15,000 fines.
Miley is not licensed to operate as a financial investment company, financial adviser or financial products dealer. The funds for his fraudulent investments were funneled through PNC Bank accounts belonging to him and his business. The transactions were conducted using a PNC Bank branch in Cranberry Township, Pa., Corbett said.
Monday, October 12, 2009
Dade County FCU Deploys Anti-Fraud Tools
A Web-based case management solution is now being used by Dade County Federal Credit Union to help the $480 million institution do its part in the fight against financial crime in Miami.
DCFCU is using the Aithent Case Management Solution to link all its fraud and compliance processes across its internal systems, enhancing both case management and the ability to produce compliant regulatory reports, the credit union said.
The credit union said benefits include easy access to information, reducing the need for redundant data entry and easing the burden on IT staff.
Aithent is a New York-based provider of information management solutions to financial, government and health care organizations.
DCFCU is using the Aithent Case Management Solution to link all its fraud and compliance processes across its internal systems, enhancing both case management and the ability to produce compliant regulatory reports, the credit union said.
The credit union said benefits include easy access to information, reducing the need for redundant data entry and easing the burden on IT staff.
Aithent is a New York-based provider of information management solutions to financial, government and health care organizations.
..
Friday, October 9, 2009
FBI Phish Phry reels in 53 scam suspects
The Federal Bureau of Investigation (FBI) began arresting 53 individuals in the U.S. Wednesday on charges of conducting a vast financial fraud based on phishing or tricking Internet users into revealing their bank account information at two of the nation's largest banks--Bank of America and Wells Fargo.
Operation Phish Phry netted arrests in Southern California, Nevada and North Carolina, said the FBI. In addition, 47 co-conspirators in Egypt are being charged by authorities there.
This is the largest number of defendants ever charged in a cybercrime case, said the FBI in a press release. The group allegedly stole at least $2 million from 2007 through September 2009 from hundreds and perhaps thousands of the banks' customers.
Indictments in a U.S. District Court in Los Angeles accuse three California residents of masterminding the U.S. portion of the scam--Kenneth Joseph Lucas, 25; a friend, Jonathan Preston Clarke; and Nichole Michelle Merzi, Lucas' former girlfriend. They directed associates to recruit "runners" to set up bank accounts to receive funds stolen from the compromised accounts.
The online component of the scam initiated in Egypt, where defendants sent mass e-mail messages that appeared to come from the banks, said the FBI. Recipients who clicked on a link in the messages were sent to a fake website identical or similar to the banks' sites, where they were asked to enter information such as their account numbers, passwords, Social Security numbers and drivers' license numbers.
The U.S. group would transfer funds into their own accounts and remit money back to accomplices in Egypt.
Each of the 53 defendants named in the indictment is charged with conspiracy to commit bank fraud and wire fraud, which carries a maximum penalty of 20 years in prison. Various defendants also are charged with bank fraud; aggravated identity theft; conspiracy to commit computer fraud, specifically unauthorized access to protected computers in connection with fraudulent bank transfers; and domestic and international money laundering.
Some analysts said the arrests won't have much impact on the number of online banking scams that have hit businesses, including credit unions. Many other groups are involved in similar fraudulent phish schemes, they said (The New York Times Oct. 8).
Thursday, October 8, 2009
Vantage CU uses Twitter for account transfers
BRIDGETON, Mo. (10/7/09)--Vantage CU, Bridgeton, Mo., launched a new banking solution, tweetMyMoney, which allows members to conduct financial transactions within their credit union accounts through social networking site Twitter.
Released Sept. 28, tweetMyMoney is free to Vantage members. It allows them to monitor their account balances, deposits, withdrawals, holds and cleared checks. Members also can transfer funds within their accounts. The program can be accessed from a computer or mobile phone.
About 70 members have enrolled. They access the program by enrolling in Vantage's online banking program and setting up a Twitter account. Members also must sign up to "follow" Vantage on Twitter. tweetMyMoney works through Twitter's Direct Message function--which allows users to send messages to each other privately. In this case, members send messages to Vantage.
The program "utilizes a set of codes that you send via direct message to the credit union and get information back," Eric Acree, executive vice president of operations, told News Now.
(Read the rest of the story at: http://www.cuna.org/newsnow/09/system100709-7.html?ref=hed)
Released Sept. 28, tweetMyMoney is free to Vantage members. It allows them to monitor their account balances, deposits, withdrawals, holds and cleared checks. Members also can transfer funds within their accounts. The program can be accessed from a computer or mobile phone.
About 70 members have enrolled. They access the program by enrolling in Vantage's online banking program and setting up a Twitter account. Members also must sign up to "follow" Vantage on Twitter. tweetMyMoney works through Twitter's Direct Message function--which allows users to send messages to each other privately. In this case, members send messages to Vantage.
The program "utilizes a set of codes that you send via direct message to the credit union and get information back," Eric Acree, executive vice president of operations, told News Now.
(Read the rest of the story at: http://www.cuna.org/newsnow/09/system100709-7.html?ref=hed)
Tuesday, October 6, 2009
Scams hit four CUs
MADISON, Wis. (10/6/09)--Several recent scams have targeted four credit unions in various regions of the U.S.
The following scams have been reported:
Suffolk FCU, Medford, N.Y., and Island FCU, Hauppauge, N.Y., debit card holders were targets of scam text or voice messages, which tell members their debit card numbers have been deactivated, police said. The victims were instructed to call a phone number to provide account and personal identification numbers to reactivate their accounts. Police reminded the public that credit unions do not contact members by mail, phone or Internet to request account information (Newsday Oct. 3).
Shoreline CU, Two Rivers, Wis., reports that a website--www.SurveyLot.com--is mailing fraudulent cashier's checks to Internet visitors nationwide, according to Sharon Tome, Shoreline chief operating officer. The checks are written for $3,975.20 and contain the routing number for the credit union and an account number--now closed--of a Shoreline member. The credit union has returned roughly $30,000 worth of checks that tried to clear through the account, Tome said. No Shoreline members have been victimized by the scam, she added. Shoreline officials are alerting other financial institutions that the checks are fraudulent (Herald Times Reporter Oct. 1).
Paducah (Ky.) FCU, has received dozens of calls from members who received a suspicious text message that said in part: "This is an automated message from Paducah FCU. Your ATM card has been suspended. To reactivate, call URGENT at 1-866-571-7629." When the number was dialed, the caller heard an automated message requesting the caller's bank account number. The telephone number has been disconnected, and the credit union is not aware of any members who were victimized by the scam (INFED Oct. 1).
The following scams have been reported:
Suffolk FCU, Medford, N.Y., and Island FCU, Hauppauge, N.Y., debit card holders were targets of scam text or voice messages, which tell members their debit card numbers have been deactivated, police said. The victims were instructed to call a phone number to provide account and personal identification numbers to reactivate their accounts. Police reminded the public that credit unions do not contact members by mail, phone or Internet to request account information (Newsday Oct. 3).
Shoreline CU, Two Rivers, Wis., reports that a website--www.SurveyLot.com--is mailing fraudulent cashier's checks to Internet visitors nationwide, according to Sharon Tome, Shoreline chief operating officer. The checks are written for $3,975.20 and contain the routing number for the credit union and an account number--now closed--of a Shoreline member. The credit union has returned roughly $30,000 worth of checks that tried to clear through the account, Tome said. No Shoreline members have been victimized by the scam, she added. Shoreline officials are alerting other financial institutions that the checks are fraudulent (Herald Times Reporter Oct. 1).
Paducah (Ky.) FCU, has received dozens of calls from members who received a suspicious text message that said in part: "This is an automated message from Paducah FCU. Your ATM card has been suspended. To reactivate, call URGENT at 1-866-571-7629." When the number was dialed, the caller heard an automated message requesting the caller's bank account number. The telephone number has been disconnected, and the credit union is not aware of any members who were victimized by the scam (INFED Oct. 1).
Thursday, October 1, 2009
CU Tech Conference Highlights the Fall Season; Coming November 9-12, 2009
CU InfoTech '09 is an innovative, comprehensive conference on credit union IT issues, products and strategies. CU InfoTech is in its 15th year and is the only conference totally dedicated to technology issues. Communicating with other credit unions is more important today than never before. No webinar or written communication can replace face-to-face technology networking.
Register by Oct. 9 and save $50 per registration.
http://cuconferences.com/tech09/TECH09_Agenda.htm
Register by Oct. 9 and save $50 per registration.
http://cuconferences.com/tech09/TECH09_Agenda.htm
September News & Views Published Below
CU SECURITY & TECHNOLOGY News - Providing a brief summary of news and information related to security and technology issues for credit unions - Plus some interesting and fun web sites . . .
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