You can take steps to protect yourself from identity fraud:
Keep your confidential information private. Your bank or credit card company won't call or e-mail to ask for your account information. They already have it.
Keep an inventory of everything in your wallet and your PDA, including account numbers. Don't keep your Social Security card or any card with your Social Security number, such as an insurance card, in your wallet.
Stop getting banking and credit card information in the mail. (See "Go paperless for safer banking.")
Monitor your bank and credit card transactions for unauthorized use. Crooks with your account numbers usually start small to see if you'll notice.
Keep your vehicle registration and insurance forms in a sealed envelope in your glove box and lock it and your car when at home or away.
If you conduct business online, use your own computer. A public computer is less secure, as is wireless Internet.
Look for suspicious devices and don't let anyone stand nearby when you use an ATM. Take your card and receipt with you. Keep your PIN in your head, not in your wallet.
Don't store credit card numbers and other financial information on your cell phone. (See "Is your cell phone spilling your secrets?")
If you're job hunting using resume Web sites, don't apply unless the employer has a verifiable address.
Protect your computer from vulnerability:
Keep system and browser software up to date and set to the highest security level you can tolerate. Install anti-virus, anti-spyware and firewall protection, and keep them up to date as well. When possible use hardware firewalls, often available through your broadband connection router.
If you use wireless Internet access, make sure that you get help from someone who understands wireless security when you set up your access point or router.
Back up your data and store it way from your computer.
Don't open e-mails from strangers. Malware can be hidden in embedded attachments and graphics files.
Don't open attachments unless you know who sent them and what they contain. Never open executable attachments. Configure Windows so that the file extensions of known file types are not hidden.
Don't click on pop-ups. Configure Windows or your Web browser to block them.
Don't provide your credit card number online unless you are making a purchase from a Web site you trust. Reputable sites will always direct you to a secure page with an URL starting with https:// whenever you actually make purchases or are asked to provide confidential information.
Use strong passwords: at least six characters, including at least one symbol and number, and no reference to your name or other personal information. Use a different password for every site that requires one, and change passwords regularly.
Never send a user name, password or other confidential information via e-mail.
Consider turning off your computer when you're not using it or at least putting it in standby mode.
Don't keep passwords, tax returns or other financial information on your hard drive.
Tuesday, March 31, 2009
Wednesday, March 25, 2009
Welcome to 419BAITER.COM, the land of extreme B.S.
Scamming the Scammers . . . http://419baiter.com/
To jump right in and see what this site is all about, click "The Games". Aside from some obfuscation of personal info (e-mail addresses and telephone numbers) and some text reformatting to improve readability, the e-mails depicted in these games are real and unedited in any way. Any spelling mistakes, bad grammar and 
adult language have been left intact.
adult language have been left intact. A CAUTIONARY NOTE: Within the pages on this site, you are bound to run across some nasty language, photos, and voice/sound recordings which may be considered vulgar or offensive by some. While you certainly won't find any pornography on this site, some material on this site may offend some people.
Most of you have, at one time or another, received "Urgent Business Transaction" e-mails from someone asking for assistance in retrieving huge amounts of money in return for a good-sized percentage of the take. Maybe it's an e-mail informing you that you've won a lottery that you've never bought a ticket for. Maybe it's a job offer cashing checks in return for a commission.
These are known as Nigerian 419 e-mails. 419 scam baiting involves responding to these e-mails posing as a potential victim of their scam and getting them to trust you to the extent that they waste a lot of their time and hopefully some money trying to bilk you out of your hard-earned cash. With luck, the scammers also provide for a few laughs along the way.
This site is dedicated to this little-known but growing Internet sport.
These scams are named after section 419 of the Nigerian penal code which deals with this type of scam. However, Nigeria is certainly not the only country from which these e-mails originate. I have had these e-mails come from virtually every part of the world - Europe, Asia, Africa, Australia, UK, Canada, etc. This site will consider dealing with any type of advance fee fraud proposal that arrives by e-mail, regardless of its origin.
And it's not only poor and/or uneducated street criminals that perpetrate these scams. Many of these scammers are very well educated. Often bureaucrats are involved, either acting on their own or with the blessing (and even the support) of their corrupt government bosses, as demonstrated by these scam e-mails sent from a Malaysian government computer or this one sent from a Brazilian government computer.
You can find plenty of examples of some of the most popular formats along with explanations on the 419 Scam Examples page.
Thursday, March 19, 2009
CUs warn of rash of automated phishing calls
Several credit unions nationwide are reporting an uptick in the number of automated phishing calls seeking to obtain personal information from members.
Some recent incidents:
1. Several Wisconsin credit unions report scam artists are using automated phone calls with recordings that ask members to divulge personal financial information, according to the Wisconsin Credit Union League. Phishing calls reported Tuesday claimed the member's credit and/or debit card had been locked and asked for the card number to unlock it. The Credit Union National Association also noted variations on scam tactics and said unsolicited requests for personal information have circulated under the subjects: "Account Deactivation," "Account Status Alert," "Changes to Terms and Conditions," and "Irregular Activity."
Click here to read about 9 other credit unions hit by phishers.
http://www.cuna.org/newsnow/09/system031809-6.html?ref=hed
Some recent incidents:
1. Several Wisconsin credit unions report scam artists are using automated phone calls with recordings that ask members to divulge personal financial information, according to the Wisconsin Credit Union League. Phishing calls reported Tuesday claimed the member's credit and/or debit card had been locked and asked for the card number to unlock it. The Credit Union National Association also noted variations on scam tactics and said unsolicited requests for personal information have circulated under the subjects: "Account Deactivation," "Account Status Alert," "Changes to Terms and Conditions," and "Irregular Activity."
Click here to read about 9 other credit unions hit by phishers.
http://www.cuna.org/newsnow/09/system031809-6.html?ref=hed
Wednesday, March 18, 2009
Weight-Revealing Billboard Shames Fatties into Joining Gym
(Click on photo to see full picture)Here we see the results of an ad campaign for the gym chain Fitness First. The bus stop seat has a scale inside, hooked up to a readout on the billboard. The idea is to shame overweight bus-goers into signing up, and we love it. The campaign was designed by Amsterdam based agency N=5, and ran in the Netherlands.
That last part is probably the most relevant. Can you imagine something like this running in the US? The company responsible would be sued out of existence in about five seconds, a class action lawsuit citing "psychological damage" or some such nonsense.
Worse, though, would be the result if this ad were to run in England. I can (quite seriously) imagine children (who should be in school) lying in wait with bags of cream cakes, ready to throw them at anyone over 200lbs who has the naivete to sit on the scale.
Fitness First "Bus Stop" [
That last part is probably the most relevant. Can you imagine something like this running in the US? The company responsible would be sued out of existence in about five seconds, a class action lawsuit citing "psychological damage" or some such nonsense.
Worse, though, would be the result if this ad were to run in England. I can (quite seriously) imagine children (who should be in school) lying in wait with bags of cream cakes, ready to throw them at anyone over 200lbs who has the naivete to sit on the scale.
Fitness First "Bus Stop" [
Navy Federal Tweaks Anti-Robbery Policy
The biggest credit union in the U.S. has modified its policy on head coverings in branches to move the emphasis away from whether a member's head is covered to whether the member's full face can be seen.
The $36 billion Navy Federal's previous policy which required credit union members to remove head coverings when they entered credit union branches had led to complaints from a muslim female member who had been asked to conduct her transaction in a another room at the branch because she wore a head covering for religious reasons.
“The policy is that head coverings for religious reasons, cultural reasons, economic reasons are all acceptable, as long as we can see the members full face,” explained Tom Lyons, senior vice president for security for the Vienna, Virginia based federal credit union. “Our emphasis is on safety of our members and on preventing robberies and identity theft,” he said.
Lyons said the credit union had begun to implement the policy of asking members to remove head coverings and sun glasses when entering the branch as the economic downturn had begun to make robberies more likely.
The $36 billion Navy Federal's previous policy which required credit union members to remove head coverings when they entered credit union branches had led to complaints from a muslim female member who had been asked to conduct her transaction in a another room at the branch because she wore a head covering for religious reasons.
“The policy is that head coverings for religious reasons, cultural reasons, economic reasons are all acceptable, as long as we can see the members full face,” explained Tom Lyons, senior vice president for security for the Vienna, Virginia based federal credit union. “Our emphasis is on safety of our members and on preventing robberies and identity theft,” he said.
Lyons said the credit union had begun to implement the policy of asking members to remove head coverings and sun glasses when entering the branch as the economic downturn had begun to make robberies more likely.
Monday, March 16, 2009
The Starbucks Economic Indicator
The economic indiacator I monitor is the Starbucks at 290 & Spring Cypress Rd.
I pass there every Sunday @ 1:00 pm.Last Spring there would be 8-10 cars in line, now I usually see no more than two and sometimes none.
Another indicator is the advancing age of the workers at Starbucks, Papa Johns or other retail stores. 2009 is going to be a TOUGH year.
I pass there every Sunday @ 1:00 pm.Last Spring there would be 8-10 cars in line, now I usually see no more than two and sometimes none.
Another indicator is the advancing age of the workers at Starbucks, Papa Johns or other retail stores. 2009 is going to be a TOUGH year.
Saturday, March 7, 2009
TOP TECHNOLOGY BREAKTHROUGHS
1) Wireless world
2) Defense technology
3) Alternative fuel vehicles
4) Biotechnology
5) Computers
6) Lasers
7) Genomics
8) Global finance
9) Processors
10) Digital storage
11) Space
12) Fiber optics
13) Satellite TV & radio
14) DNA testing
15) Video games
16) Biometrics
17) Energy and water savers
18) Scanning tunneling microscopes
19) Batteries
20) E-baggage
21) Remote controls
22) Animal cloning
23) Manufacturing technology
24) The big picture
25) Weather technology
2) Defense technology
3) Alternative fuel vehicles
4) Biotechnology
5) Computers
6) Lasers
7) Genomics
8) Global finance
9) Processors
10) Digital storage
11) Space
12) Fiber optics
13) Satellite TV & radio
14) DNA testing
15) Video games
16) Biometrics
17) Energy and water savers
18) Scanning tunneling microscopes
19) Batteries
20) E-baggage
21) Remote controls
22) Animal cloning
23) Manufacturing technology
24) The big picture
25) Weather technology
Friday, March 6, 2009
Hoax Busters - the BIG LIST of Internet Hoaxes
An alphabetical list of Internet hoaxes, scams and chain letters. If it's on the list, it's a hoax. Please, if any doubt, check it out. - http://www.hoaxbusters.org.
Thursday, March 5, 2009
Harland Announces UltraData, Cavion Signings
Harland Financial Solutions said several more credit unions are now using its UltraData Enterprise core processing solutions.
That includes $1.2 million Genisys CU of Auburn Hills, Mich., which is the result of a recent merger between T&C FCU and USA CU. T&C already was an UltraData user.
The Lake Mary, Fla., company also said $103 million Bull Dog FCU will go live with an in-house UltraData platform on March 1. The Hagerstown, Md., credit union now is an Open Solutions customer, according to its 5300 Call Report. Meanwhile, $14 million Syracuse Cooperative FCU in New York will convert to a service bureau core processing relationship with UltraData. It currently is a CompuSource Systems client, according to NCUA records.
Two Huron, S.D., credit unions–$13 million Huron Area FCU and $3 million HB Telco FCU–will be converting from HFS’ CuServ platform to UltraData enterprise in a service bureau environment, the company said.
More than 550 credit unions now run UltraData, including more than 200 through the company’s service center in West Des Moines, Iowa.
The company also said it has signed 119 new users of its Cavion Internet Banking service in 2008 and 42 users of its Cavion Mobile Banking Professional service since it was launched several months ago.
That includes $1.2 million Genisys CU of Auburn Hills, Mich., which is the result of a recent merger between T&C FCU and USA CU. T&C already was an UltraData user.
The Lake Mary, Fla., company also said $103 million Bull Dog FCU will go live with an in-house UltraData platform on March 1. The Hagerstown, Md., credit union now is an Open Solutions customer, according to its 5300 Call Report. Meanwhile, $14 million Syracuse Cooperative FCU in New York will convert to a service bureau core processing relationship with UltraData. It currently is a CompuSource Systems client, according to NCUA records.
Two Huron, S.D., credit unions–$13 million Huron Area FCU and $3 million HB Telco FCU–will be converting from HFS’ CuServ platform to UltraData enterprise in a service bureau environment, the company said.
More than 550 credit unions now run UltraData, including more than 200 through the company’s service center in West Des Moines, Iowa.
The company also said it has signed 119 new users of its Cavion Internet Banking service in 2008 and 42 users of its Cavion Mobile Banking Professional service since it was launched several months ago.
Tuesday, March 3, 2009
Register 1 and Send More At No Cost
St. Louis, January 30, 2009 – William Rogers & Associates, sponsor of the CU InfoSECURITY Conference, announced that they are reducing their previously announced conference fee from $895 to $795. The reduction was brought about in discussion with the conference host site, MonteLago Village Resort at Lake Las Vegas, and as way to help credit unions receive much needed security information during these difficult economic times.
We have also announced a special registration. Register 1 person at the regular rate of $795 and send others from your credit union at no extra cost. The extra persons will be responsible for their lodging. That's it. The dates are June 4-5, 2009.
..
Conference Manager Bill Rogers said, “We’re pleased to pass this savings on to our conference attendees. This makes the conference even more valuable and affordable.” Rogers adds that “the conference registration fee includes two free nights lodging at a beautiful 5 star resort – a unique feature that only we offer to further help credit unions afford this one of a kind conference.” The CU InfoSECURITY Conference is the only conference in the credit union movement offering two nights lodging as part of their low conference fee.
Rogers added, “This is our 8th annual conference focusing on security issues facing credit unions. Security continues to be a top of mind issue for credit unions of all sizes. With over a dozen security expert speakers, a security tour of a Las Vegas credit union for pre-conference attendees, vendor exhibits and two nights free lodging, this makes for an outstanding program. It’s the best value in the credit union movement.”
The conference agenda, registration and more information is available at: https://www.cunews.com/infosec.htm.
We have also announced a special registration. Register 1 person at the regular rate of $795 and send others from your credit union at no extra cost. The extra persons will be responsible for their lodging. That's it. The dates are June 4-5, 2009.
..
Conference Manager Bill Rogers said, “We’re pleased to pass this savings on to our conference attendees. This makes the conference even more valuable and affordable.” Rogers adds that “the conference registration fee includes two free nights lodging at a beautiful 5 star resort – a unique feature that only we offer to further help credit unions afford this one of a kind conference.” The CU InfoSECURITY Conference is the only conference in the credit union movement offering two nights lodging as part of their low conference fee.
Rogers added, “This is our 8th annual conference focusing on security issues facing credit unions. Security continues to be a top of mind issue for credit unions of all sizes. With over a dozen security expert speakers, a security tour of a Las Vegas credit union for pre-conference attendees, vendor exhibits and two nights free lodging, this makes for an outstanding program. It’s the best value in the credit union movement.”
The conference agenda, registration and more information is available at: https://www.cunews.com/infosec.htm.
February News & Views Shown 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.(Click on all photos to enlarge)
Tuesday, February 24, 2009
ATM thieves drain $60,000 from machine, camera helps catch them
Arlington police are investigating a string of thefts in which a group of people apparently tricked a cash machine out of $60,000 over 
several months.
The thefts occurred at one Boeing Employees Credit Union machine in the Smokey Point area of Snohomish County, said BECU spokesman Todd Pietzsch.
Pietzsch said the thieves were able to trick the machine's software program in a way that caused it not to recognize that it had dispensed money, and it would then dispense money again, "so they were actually getting twice as much as they should have."
several months.The thefts occurred at one Boeing Employees Credit Union machine in the Smokey Point area of Snohomish County, said BECU spokesman Todd Pietzsch.
Pietzsch said the thieves were able to trick the machine's software program in a way that caused it not to recognize that it had dispensed money, and it would then dispense money again, "so they were actually getting twice as much as they should have."
Banks, Credit Card Firms Wait For The Other Shoe To Drop Amid Reports Of Another Payment Processor Breach
Hack of a second U.S.-based payment processing firm exposes accounts used in Internet, phone transactions, according to credit union alerts
Brace yourself for another payment-processor breach: A second U.S.-based payment acquirer/processor has been hit with a network hack that exposed consumers' credit card accounts.
As of this posting, the victim firm's identity had not been revealed. According to several credit unions, Visa recently alerted them that another payment processor had discovered a data breach. Among the credit unions issuing alerts about the breach on their Websites are The Tuscaloosa VA Federal Credit Union and the Pennsylvania Credit Union Association. The Open Security Foundation has a notice posted on its DataLossDB site.
The latest breach follows that of Heartland Payment Systems, which went public on Jan. 20 about discovering malware on its processing system; some security experts have called it the largest security breach ever. Heartland processes 100 million payment card transactions per month for 175,000 merchants.
While details on the latest hack are still emerging, there is one known difference between it and Heartland's: This latest breach exposed so-called card-not-present transactions -- online and call-based transactions -- and not magnetic-stripe track data. Primary account numbers and expiration dates were stolen from the firm's settlement system, according to the Tuscaloosa VA Federal Credit Union.
Brace yourself for another payment-processor breach: A second U.S.-based payment acquirer/processor has been hit with a network hack that exposed consumers' credit card accounts.
As of this posting, the victim firm's identity had not been revealed. According to several credit unions, Visa recently alerted them that another payment processor had discovered a data breach. Among the credit unions issuing alerts about the breach on their Websites are The Tuscaloosa VA Federal Credit Union and the Pennsylvania Credit Union Association. The Open Security Foundation has a notice posted on its DataLossDB site.
The latest breach follows that of Heartland Payment Systems, which went public on Jan. 20 about discovering malware on its processing system; some security experts have called it the largest security breach ever. Heartland processes 100 million payment card transactions per month for 175,000 merchants.
While details on the latest hack are still emerging, there is one known difference between it and Heartland's: This latest breach exposed so-called card-not-present transactions -- online and call-based transactions -- and not magnetic-stripe track data. Primary account numbers and expiration dates were stolen from the firm's settlement system, according to the Tuscaloosa VA Federal Credit Union.
Tuesday, February 17, 2009
Give Every Member a Branch of Your Credit Union
Branchless banking’ allows an individual to have a remote bank account 
that is accessed and managed through their mobile phone or other technologies. This could mean those with no chance of using traditional banks – because they are either too poor or the nearest bank is miles away - will be given the opportunity to save money, gain access to credit and receive money sent from family members in other countries.
The potential market for technology and mobile phone companies is huge, and by piggy-backing on existing technologies and infrastructures, the transaction cost can be much cheaper than traditional banks. For example a study in India showed it costs $1 per transaction in a bank, 40-50 cents per transaction from a cash machine and only 10 cents when a smart card is used.
(For the rest of the story, visit: http://www.dfid.gov.uk/news/files/SoS-FAST.asp
that is accessed and managed through their mobile phone or other technologies. This could mean those with no chance of using traditional banks – because they are either too poor or the nearest bank is miles away - will be given the opportunity to save money, gain access to credit and receive money sent from family members in other countries.The potential market for technology and mobile phone companies is huge, and by piggy-backing on existing technologies and infrastructures, the transaction cost can be much cheaper than traditional banks. For example a study in India showed it costs $1 per transaction in a bank, 40-50 cents per transaction from a cash machine and only 10 cents when a smart card is used.
(For the rest of the story, visit: http://www.dfid.gov.uk/news/files/SoS-FAST.asp
Tuesday, February 10, 2009
Cherry Valley woman sentenced for taking $1 million from credit union
A 40-year-old woman was sentenced to nearly four years in prison for embezzling more than $1 million from the Rock Valley Federal Credit Union.
Lisa Farel was given three years and seven months in prison, as well as five years of supervised release. In October of last year she pleaded guilty to taking more than $1 million from the credit union over a 15-year period starting in 1993. Farel was manager of the credit and debit card portfolio department during that time.
After being charged, she admitted to manipulating 73 credit card accounts after pretending to close them.
Lisa Farel was given three years and seven months in prison, as well as five years of supervised release. In October of last year she pleaded guilty to taking more than $1 million from the credit union over a 15-year period starting in 1993. Farel was manager of the credit and debit card portfolio department during that time.
After being charged, she admitted to manipulating 73 credit card accounts after pretending to close them.
Number of ID fraud victims up 22%
The number of identity fraud victims in 2008 increased 22% to 9.9 million adults in the U.S., according to the 2009 Identity Fraud Survey Report, issued Monday by Javelin Strategy & Research.
However, the total annual fraud amount rose only slightly--7%--to $8 billion during the past year, the survey said (Business Wire Feb. 9).
Javelin, based in Pleasanton, Calif., is an independent provider of quantitative and qualitative research focused on financial services topics.
Other key survey findings:
>> Overall identity fraud incidents increased in the U.S. The number of identity fraud incidents in 2008 rose by 22% over 2007, which brings the number back up to levels not seen since 2004. Javelin said the rise was due to economic misfortune. Historically, higher rates of fraud occur when the economy worsens. Identity fraud remains substantially lower overall when compared to the 2004 level of $60 billion.
>> Cost to consumers is down. The mean consumer cost of identity fraud decreased 31% to $496-- its lowest level since 2005--from $718 per incident. The lower cost per incident is attributable to faster detection of fraud, lower fraud amounts, and quicker resolution times thanks to industry efforts and consumer education, Javelin said.
>> Fraudsters are moving much more quickly. In cases where identity fraud was reported, 71% of the fraud incidents began occurring less than one week from when the data was stolen, up from 33% in 2005. The dramatic increase points to more sophisticated attacks by fraudsters and an increasing number of "attacks of opportunity" in which people or businesses leave data exposed.
>> Gender disparity. Women were 26% more likely to be victims of identity fraud than men in 2008. Women are making more purchases in stores, and more women than men experienced breaches last year.
>> Low-tech methods still most popular. Lost or stolen wallets, checkbooks and credit and debit cards were still the most likely avenues of fraudsters' attacks. These avenues totaled 43% of all incidents in which the method of access was known. By protecting their information, consumers can significantly lower their risks, Javelin said.
However, the total annual fraud amount rose only slightly--7%--to $8 billion during the past year, the survey said (Business Wire Feb. 9).Javelin, based in Pleasanton, Calif., is an independent provider of quantitative and qualitative research focused on financial services topics.
Other key survey findings:
>> Overall identity fraud incidents increased in the U.S. The number of identity fraud incidents in 2008 rose by 22% over 2007, which brings the number back up to levels not seen since 2004. Javelin said the rise was due to economic misfortune. Historically, higher rates of fraud occur when the economy worsens. Identity fraud remains substantially lower overall when compared to the 2004 level of $60 billion.
>> Cost to consumers is down. The mean consumer cost of identity fraud decreased 31% to $496-- its lowest level since 2005--from $718 per incident. The lower cost per incident is attributable to faster detection of fraud, lower fraud amounts, and quicker resolution times thanks to industry efforts and consumer education, Javelin said.
>> Fraudsters are moving much more quickly. In cases where identity fraud was reported, 71% of the fraud incidents began occurring less than one week from when the data was stolen, up from 33% in 2005. The dramatic increase points to more sophisticated attacks by fraudsters and an increasing number of "attacks of opportunity" in which people or businesses leave data exposed.
>> Gender disparity. Women were 26% more likely to be victims of identity fraud than men in 2008. Women are making more purchases in stores, and more women than men experienced breaches last year.
>> Low-tech methods still most popular. Lost or stolen wallets, checkbooks and credit and debit cards were still the most likely avenues of fraudsters' attacks. These avenues totaled 43% of all incidents in which the method of access was known. By protecting their information, consumers can significantly lower their risks, Javelin said.
Friday, February 6, 2009
CU Stages Robbery Drill
LOMPOC, Calif. — Credit unions staging mock robberies have fallen out of favor with some authorities in recent years, but the $660 million CoastHills Federal Credit Union still uses the practice and credits it with preventing a recent potential robbery.
In the mock “take over” style robberies, real time drills in two CoastHills branches, run by local police authorities, mimicked the circumstance where a robber brandishes a weapon and otherwise takes control of the branch for the duration of the robbery. In the case of the drills, the mock robberies were limited to 30 minutes.
Video tapes are made of the mock robberies and then examined later for use as teaching tools as credit union staff are trained in their responses to a robbery, the credit union said.
Even though the majority of robberies are not the “take over” type, the credit union pointed out the numbers of robberies in its immediate area has been rising, along with robbery numbers across the country.
In the mock “take over” style robberies, real time drills in two CoastHills branches, run by local police authorities, mimicked the circumstance where a robber brandishes a weapon and otherwise takes control of the branch for the duration of the robbery. In the case of the drills, the mock robberies were limited to 30 minutes.Video tapes are made of the mock robberies and then examined later for use as teaching tools as credit union staff are trained in their responses to a robbery, the credit union said.
Even though the majority of robberies are not the “take over” type, the credit union pointed out the numbers of robberies in its immediate area has been rising, along with robbery numbers across the country.
Wednesday, February 4, 2009
Credit Union Says They Identified Passwords for 80% of Staff
People and passwords—in the long run, they just don't work very effectively together. At least that's what Phil Fowler, vice president of IT at Telesis Community Credit Union, a Chatsworth, Calif.-based financial services provider that manages $1.2 billion in assets, found out. His team ran a network password cracker as part of an enterprise security audit last year to see if employees were adhering to Telesis' password policies. They weren't.
"Within 30 seconds, we had identified probably 80% of people's passwords," says Fowler, whose group immediately asked employees to create strong passwords that adhered to the security requirements. A few days later, the team ran the password cracker again: This time, they cracked 70%. (Click on photos to enlarge)
"We couldn't get [employees] to maintain strong passwords, and those that did forgot them, so the help desk would have to reset them," says Fowler. Telesis decided to secure network and application access with a biometric system that eliminated the need for user IDs and passwords, opting for the DigitalPersona fingerprint system from DigitalPersona Inc. in Redwood City , Calif.
"Within 30 seconds, we had identified probably 80% of people's passwords," says Fowler, whose group immediately asked employees to create strong passwords that adhered to the security requirements. A few days later, the team ran the password cracker again: This time, they cracked 70%. (Click on photos to enlarge)"We couldn't get [employees] to maintain strong passwords, and those that did forgot them, so the help desk would have to reset them," says Fowler. Telesis decided to secure network and application access with a biometric system that eliminated the need for user IDs and passwords, opting for the DigitalPersona fingerprint system from DigitalPersona Inc. in Redwood City , Calif.
Telesis rolled out fingerprint-based network and systems access technology in its headquarters and credit-union branches. Once Telesis has thoroughly tested the system, the company will deploy it in the offices of Business Partners LLC, its business loan services partner. Users no longer need to remember IDs and passwords because DigitalPersona authenticates enrolled personnel via fingerprint scanners, tying the fingerprints to 256-character passwords that it randomly generates every 45 days.
Friday, January 30, 2009
January News & Views 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.
(Click on photos to enlarge)
(Click on photos to enlarge)
Women Are Better at Financial Planning Than Men
Dan was a single guy living at home with his father and working in the Family business.
When he found out he was going to inherit a fortune when his sickly Father died, he decided he needed a wife with which to share his Fortune.
One evening at an investment meeting he spotted the most beautiful woman he had ever seen. Her natural beauty took his breath away.
"I may look like just an ordinary man," he said to her, "but in just a few years, my father will pass, and I'll inherit $20 million." Impressed, the woman obtained his business card and three days later, she became his stepmother.
Women are so much better at financial planning than men.
Monday, January 26, 2009
Beware the debit card swindlers
Five seconds.
"We've looked at the videotape, that's how long it took," said Detective Steve Cook of Hamilton Police Services major fraud unit.
Five seconds was all the fraudsters needed to install the equipment that would rig an automatic banking machine to capture the debit card information from unsuspecting users.
"One guy standing behind to block the view, the other guy takes the pieces out of a gym bag," said Cook. "Five seconds, he walks away, and it's ready to go."
But this is no amateurish duct-tape-and-chewing-gum job being pulled off.
To an untrained eye, it would be difficult to detect that the machine had been compromised.
The level of sophistication involved in today's typical debit card fraud is staggering -- tiny computer processors attached to bank machines, miniature cameras, Bluetooth wireless technology, magnetic stripe encoders, portable safes.
As technology evolves, there's a corresponding evolution in criminal techniques.
Read the rest of this interesting story at:
http://www.thespec.com/News/Discover/article/501278Scam alerts flooding several states
MADISON, Wis. (1/26/09)--
Credit unions nationwide are reporting that their members have been targeted by scams--including scams that have origins overseas.
Achieve FCU, Berlin, Conn. said that two dozen of its members lost money after sending debit card passwords to scammers that requested personal financial information (The Hartford Courant Jan. 23). The scammers had contacted members saying their accounts had been frozen.
One member lost $2.76--all she had in her account--while others lost $400, which is the maximum amount a member can withdraw in one day, Mary Budnick, Achieve vice president of operations, told the newspaper.
The scammers that targeted Achieve members were located in Romania and in Spain (Journal Register News Service Jan. 22).
The Federal Deposit Insurance Corp. (FDIC) warned its consumers, businesses and financial institutions Jan. 15 about fraudulent e-mails purporting to be from the Federal Reserve Bank. The e-mails state that a phishing attack has hit the Fedwire system and recipients are asked to click on links for more information.
More info at: http://www.cuna.org/newsnow/09/system012309-7.html?ref=hed
Credit unions nationwide are reporting that their members have been targeted by scams--including scams that have origins overseas.
Achieve FCU, Berlin, Conn. said that two dozen of its members lost money after sending debit card passwords to scammers that requested personal financial information (The Hartford Courant Jan. 23). The scammers had contacted members saying their accounts had been frozen.
One member lost $2.76--all she had in her account--while others lost $400, which is the maximum amount a member can withdraw in one day, Mary Budnick, Achieve vice president of operations, told the newspaper.
The scammers that targeted Achieve members were located in Romania and in Spain (Journal Register News Service Jan. 22).
The Federal Deposit Insurance Corp. (FDIC) warned its consumers, businesses and financial institutions Jan. 15 about fraudulent e-mails purporting to be from the Federal Reserve Bank. The e-mails state that a phishing attack has hit the Fedwire system and recipients are asked to click on links for more information.
More info at: http://www.cuna.org/newsnow/09/system012309-7.html?ref=hed
Saturday, January 24, 2009
Get Your Credit Union to Stand Out in a Crowd
If you really want to be noticed, get yourself a mascot. He’ll stand out in a crowd anywhere. We guarantee it. More credit unions today are using mascots to represent their credit union in a variety of different ways. Here are just a couple.
For more, visit Kincaid Karacter Mascots at http://www.kincaidkaracter.com/karacters/index.html
http://www.kincaidkaracter.com/
First Capitol Business Centre
2277 First Capitol Drive
Saint Louis, Mo. 63301
Phone 636-947-8822
karacter@kincaidkaracter.com
For more, visit Kincaid Karacter Mascots at http://www.kincaidkaracter.com/karacters/index.html
http://www.kincaidkaracter.com/
First Capitol Business Centre
2277 First Capitol Drive
Saint Louis, Mo. 63301
Phone 636-947-8822
karacter@kincaidkaracter.com
Friday, January 23, 2009
Locating a Private Individual
The following was posted on US.Gov on December 5, 2008.
Question
Locating a Private Individual
Answer
There are several organizations that might be able to assist you in locating a private individual. Please review the policies and guidelines for each agency/organization below.
Internal Revenue Service (IRS)
The IRS may forward a letter to someone when humane reasons are involved. For example:
* To notify someone of a serious illness, imminent death, or death of a close relative
* To seek an individual for a medical study to detect and treat medical defects
* To notify an individual, who cannot otherwise be located, that he or she is entitled to certain assets
* The IRS will forward a letter from an attorney, estate administrator, or other person who directly controls the assets
If you would like the IRS to help you locate an individual, place a personal letter addressed to the individual in a blank envelope. Include first class U.S. postage, and do not seal the letter. Place the unsealed letter in another envelope and address it as follows:
Internal Revenue Service
Office of Disclosure Operations
1111 Constitution Avenue NW
Washington, D.C. 20224
Social Security Administration (SSA)
The SSA will attempt to forward a letter to a missing person for reasons similar to those mentioned in the IRS section above. There is a $25.00 charge for forwarding letters to inform people about money or property they may be owed. Humanitarian letters are forwarded free of charge.
Follow the same guidelines above for sending a letter, and address it as follows:
Social Security Administration
Letter Forwarding
PO Box 33022
Baltimore, MD 21290-3022
The Salvation Army
The Salvation Army has operated a Family Tracing Service since 1885. The service is designed to help people establish contact with close relatives they may have lost touch with a few years ago or many years ago. The service is available in many of the 100 countries where the Salvation Army is located.
The Salvation Army will not help to locate someone in the following instances:
*
Friends
*
Situations where adoptions have taken place
*
Alleged fathers of non-marital children
*
Young people under 17 years of age
*
Former husbands or wives
*
Spouses for divorce purposes
*
Estate or similar business matters
*
Genealogies
In the United States, you may contact a Salvation Army territory office for your state. Local Salvation Army office numbers are listed in your local telephone directory.
Department of State (DOS)
The Overseas Citizens Services section of DOS will help locate relatives or friends who are overseas when there is concern about their welfare or a need to notify them of emergencies at home.
The Privacy Act requires that U.S. citizens over the age of 18 provide a Privacy Act waiver before information about them is released to a third party.
People in the United States may inquire about the welfare or whereabouts of U.S. citizens abroad by calling Overseas Citizens Services at 1-888-407-4747 or 1-202-501-4444. You may also contact the American Citizens Service Section of the nearest U.S. embassy or consulate directly.
You will need to include the following information before you call or contact the DOS:
* Your full name, address, telephone number and relationship
* The name of the person abroad
* Their date and place of birth
* Their passport number (if known)
* Their last known address and phone number
* Their itinerary
* Reason for their travel/residence abroad (business, tourism, etc.)
* Date of last contact
* Other points of contact abroad (friends, relatives, business associates, etc.)
For emergency messages, also include:
* Nature of the emergency
* What message should be provided to the person
* Name, address, telephone number and relationship of person you wish to be contacted after the emergency family message is delivered by the U.S. embassy or consulate
The United States Military
The military may also be able to help you locate the address of a servicemember. For immediate family members and government officials, the search is free. Other family members, civilian friends, businesses and others must pay $3.50. The check or money order must be made out to the U.S. Treasury and is non refundable.
You will need to provide as much identifying information on the military member as possible, such as:
*
Name
*
Rank
*
Last duty assignment
*
Last known military address
*
Service number
*
Social Security number
Please note: Because privacy regulations may limit the government's ability to provide you specific contact information for the person you are trying to locate, many people find that private sector resources can be quite helpful. While there are a number of free or fee-based services available through commercial sites on the Internet that you may opt to use in your search, the government cannot recommend or endorse any such service.
Question
Locating a Private Individual
Answer
There are several organizations that might be able to assist you in locating a private individual. Please review the policies and guidelines for each agency/organization below.
Internal Revenue Service (IRS)
The IRS may forward a letter to someone when humane reasons are involved. For example:
* To notify someone of a serious illness, imminent death, or death of a close relative
* To seek an individual for a medical study to detect and treat medical defects
* To notify an individual, who cannot otherwise be located, that he or she is entitled to certain assets
* The IRS will forward a letter from an attorney, estate administrator, or other person who directly controls the assets
If you would like the IRS to help you locate an individual, place a personal letter addressed to the individual in a blank envelope. Include first class U.S. postage, and do not seal the letter. Place the unsealed letter in another envelope and address it as follows:
Internal Revenue Service
Office of Disclosure Operations
1111 Constitution Avenue NW
Washington, D.C. 20224
Social Security Administration (SSA)
The SSA will attempt to forward a letter to a missing person for reasons similar to those mentioned in the IRS section above. There is a $25.00 charge for forwarding letters to inform people about money or property they may be owed. Humanitarian letters are forwarded free of charge.
Follow the same guidelines above for sending a letter, and address it as follows:
Social Security Administration
Letter Forwarding
PO Box 33022
Baltimore, MD 21290-3022
The Salvation Army
The Salvation Army has operated a Family Tracing Service since 1885. The service is designed to help people establish contact with close relatives they may have lost touch with a few years ago or many years ago. The service is available in many of the 100 countries where the Salvation Army is located.
The Salvation Army will not help to locate someone in the following instances:
*
Friends
*
Situations where adoptions have taken place
*
Alleged fathers of non-marital children
*
Young people under 17 years of age
*
Former husbands or wives
*
Spouses for divorce purposes
*
Estate or similar business matters
*
Genealogies
In the United States, you may contact a Salvation Army territory office for your state. Local Salvation Army office numbers are listed in your local telephone directory.
Department of State (DOS)
The Overseas Citizens Services section of DOS will help locate relatives or friends who are overseas when there is concern about their welfare or a need to notify them of emergencies at home.
The Privacy Act requires that U.S. citizens over the age of 18 provide a Privacy Act waiver before information about them is released to a third party.
People in the United States may inquire about the welfare or whereabouts of U.S. citizens abroad by calling Overseas Citizens Services at 1-888-407-4747 or 1-202-501-4444. You may also contact the American Citizens Service Section of the nearest U.S. embassy or consulate directly.
You will need to include the following information before you call or contact the DOS:
* Your full name, address, telephone number and relationship
* The name of the person abroad
* Their date and place of birth
* Their passport number (if known)
* Their last known address and phone number
* Their itinerary
* Reason for their travel/residence abroad (business, tourism, etc.)
* Date of last contact
* Other points of contact abroad (friends, relatives, business associates, etc.)
For emergency messages, also include:
* Nature of the emergency
* What message should be provided to the person
* Name, address, telephone number and relationship of person you wish to be contacted after the emergency family message is delivered by the U.S. embassy or consulate
The United States Military
The military may also be able to help you locate the address of a servicemember. For immediate family members and government officials, the search is free. Other family members, civilian friends, businesses and others must pay $3.50. The check or money order must be made out to the U.S. Treasury and is non refundable.
You will need to provide as much identifying information on the military member as possible, such as:
*
Name
*
Rank
*
Last duty assignment
*
Last known military address
*
Service number
*
Social Security number
Please note: Because privacy regulations may limit the government's ability to provide you specific contact information for the person you are trying to locate, many people find that private sector resources can be quite helpful. While there are a number of free or fee-based services available through commercial sites on the Internet that you may opt to use in your search, the government cannot recommend or endorse any such service.
..
How To Stop Receiving Spam from Your Friends & Family
The following is an e-mail which you can send to friends and family asking that they stop sending spam type e-mail . . . all done anonymously.
Hi,
One of your friends has sent you this message from StopForwarding.Us, the website that allows individuals to politely and anonymously email their friends and ask that they stop the habit of sending forwarded emails or FWDs.Please do not forward chain letters, urban legends, potentially offensive jokes, videos or photos without being asked or first receiving permission.
If you find something that you want to pass on and you genuinely think the recipient will enjoy it then forward it to that person only (not in an email blast to all your friends and family) and include a personal note about why you enjoyed it and why you think they will too. Avoid sending forwards to friends or relatives that you've grown distant with. It can be frustrating for the recipient when the only correspondence he or she has with someone is via impersonal, unwanted email.
For more tips on email etiquette, visit www.StopForwarding.Us
Thank you,
A Friend (via www.StopForwarding.Us )
Hi,
One of your friends has sent you this message from StopForwarding.Us, the website that allows individuals to politely and anonymously email their friends and ask that they stop the habit of sending forwarded emails or FWDs.Please do not forward chain letters, urban legends, potentially offensive jokes, videos or photos without being asked or first receiving permission.
If you find something that you want to pass on and you genuinely think the recipient will enjoy it then forward it to that person only (not in an email blast to all your friends and family) and include a personal note about why you enjoyed it and why you think they will too. Avoid sending forwards to friends or relatives that you've grown distant with. It can be frustrating for the recipient when the only correspondence he or she has with someone is via impersonal, unwanted email.
For more tips on email etiquette, visit www.StopForwarding.Us
Thank you,
A Friend (via www.StopForwarding.Us )
Worm Infects Millions of Computers Worldwide
January 23, 2009
<http://www.nytimes.com/2009/01/23/technology/internet/23worm.html?ref=science>
A new digital plague has hit the Internet, infecting millions of personal and business computers in what seems to be the first step of a multistage attack. The world’s leading computer security experts do not yet know who programmed the infection, or what the next stage will be.
In recent weeks a worm, a malicious software program, has swept through corporate, educational and public computer networks around the world. Known as Conficker or Downadup, it is spread by a recently discovered Microsoft Windows vulnerability, by guessing network passwords and by hand-carried consumer gadgets like USB keys.
Experts say it is the worst infection since the Slammer worm exploded through the Internet in January 2003, and it may have infected as many as nine million personal computers around the world.
Worms like Conficker not only ricochet around the Internet at lightning speed, they harness infected computers into unified systems called botnets, which can then accept programming instructions from their clandestine masters. "If you’re looking for a digital Pearl Harbor, we now have the Japanese ships steaming toward us on the horizon," said Rick Wesson, chief executive of Support Intelligence, a computer security consulting firm based in San Francisco.
Many computer users may not notice that their machines have been infected, and computer security researchers said they were waiting for the instructions to materialize, to determine what impact the botnet will have on PC users. It might operate in the background, using the infected computer to send spam or infect other computers, or it might steal the PC user’s personal information.
More information at:
<http://www.nytimes.com/2009/01/23/technology/internet/23worm.html?ref=science>
<http://www.nytimes.com/2009/01/23/technology/internet/23worm.html?ref=science>
A new digital plague has hit the Internet, infecting millions of personal and business computers in what seems to be the first step of a multistage attack. The world’s leading computer security experts do not yet know who programmed the infection, or what the next stage will be.
In recent weeks a worm, a malicious software program, has swept through corporate, educational and public computer networks around the world. Known as Conficker or Downadup, it is spread by a recently discovered Microsoft Windows vulnerability, by guessing network passwords and by hand-carried consumer gadgets like USB keys.
Experts say it is the worst infection since the Slammer worm exploded through the Internet in January 2003, and it may have infected as many as nine million personal computers around the world.
Worms like Conficker not only ricochet around the Internet at lightning speed, they harness infected computers into unified systems called botnets, which can then accept programming instructions from their clandestine masters. "If you’re looking for a digital Pearl Harbor, we now have the Japanese ships steaming toward us on the horizon," said Rick Wesson, chief executive of Support Intelligence, a computer security consulting firm based in San Francisco.
Many computer users may not notice that their machines have been infected, and computer security researchers said they were waiting for the instructions to materialize, to determine what impact the botnet will have on PC users. It might operate in the background, using the infected computer to send spam or infect other computers, or it might steal the PC user’s personal information.
More information at:
<http://www.nytimes.com/2009/01/23/technology/internet/23worm.html?ref=science>
Wednesday, January 21, 2009
Computer Worm Affected 10+ Million Computers
A complex computer worm has infected corporate networks and has affected more than 10 million computers this week, experts say. Infecting computers in the U.S., Europe and Asia, the Downadup worm - which focuses on Microsoft Windows - scans company networks trying to guess passwords in order to access corporate networks, experts found. If the password is guessed, the worm can then infect a computer and the entire network of servers it is connected to.
As a result, experts are calling for all computer users to install a patch from Microsoft and to use long, difficult passwords that cannot be deciphered.
Read the entire article at: http://blogs.techrepublic.com.com/security/?p=740&tag=nl.e550
As a result, experts are calling for all computer users to install a patch from Microsoft and to use long, difficult passwords that cannot be deciphered.
Read the entire article at: http://blogs.techrepublic.com.com/security/?p=740&tag=nl.e550
Card Data Compromised in Breach, Insurer Says Millions of Card Numbers Might Be Compromised
Despite Heartland Payment Systems' attempt to play down the significance of a security breach in a recent announcement, it appears that hackers were able to compromise a significant number of card accounts, according to CUNA Mutual Group.
"Although the exact number of affected cards is not known, it is expected to be many millions. Card-issuing credit unions and their members will be impacted by this breach," said Chuck Cashman, an executive with CUNA Mutual's Plastic Card Insurance.
The insurer reported that Visa and MasterCard have confirmed a significant number of credit and debit card accounts were compromised in the 2008 breach, which the company announced on Jan. 20.
Cashman said the insurer had been looking into a spike in card fraud since October 2008.
"CUNA Mutual Risk Management detected that something big was happening," Cashman said. "We reported our findings to both card associations to help facilitate an investigation to determine if a breach had occurred and, if so, its origin. It seems our worst fears are coming true, but we are relieved that it's finally been solved."
"Although the exact number of affected cards is not known, it is expected to be many millions. Card-issuing credit unions and their members will be impacted by this breach," said Chuck Cashman, an executive with CUNA Mutual's Plastic Card Insurance.
The insurer reported that Visa and MasterCard have confirmed a significant number of credit and debit card accounts were compromised in the 2008 breach, which the company announced on Jan. 20.
Cashman said the insurer had been looking into a spike in card fraud since October 2008.
"CUNA Mutual Risk Management detected that something big was happening," Cashman said. "We reported our findings to both card associations to help facilitate an investigation to determine if a breach had occurred and, if so, its origin. It seems our worst fears are coming true, but we are relieved that it's finally been solved."
Monday, January 19, 2009
Analyst: Obama may spend a billion on biometrics
The Obama administration is likely to spend $750 million to $1 billion on biometric applications this year, primarily in defense, intelligence and homeland security, according to a new report from Jeremy Grant, an analyst for the Stanford Group Co. research firm.
Key programs at the Defense Department could result in $500 million to $600 million in biometrics contracts, and intelligence programs could add another $250 million to $350 million, Grant said. Other major programs contributing to the growth include the Homeland Security Department’s U.S. Visitor and Immigrant Status Indicator Technology and Real ID Act of 2005, the FBI’s Next Generation Identification and Homeland Security Presidential Directive-12, he said.
“U.S. identity solutions projects should survive intact through the presidential transition and the industry should continue to do well in the Obama administration,” Grant wrote. “Still, the distractions of the transition -– magnified by the economic crisis -– will slow some projects and delay the creation of new ones.
We forecast flat government spending for 2009 outside of several key programs, as a new administration takes a year to review and reshape existing initiatives.”
Key programs at the Defense Department could result in $500 million to $600 million in biometrics contracts, and intelligence programs could add another $250 million to $350 million, Grant said. Other major programs contributing to the growth include the Homeland Security Department’s U.S. Visitor and Immigrant Status Indicator Technology and Real ID Act of 2005, the FBI’s Next Generation Identification and Homeland Security Presidential Directive-12, he said.
“U.S. identity solutions projects should survive intact through the presidential transition and the industry should continue to do well in the Obama administration,” Grant wrote. “Still, the distractions of the transition -– magnified by the economic crisis -– will slow some projects and delay the creation of new ones.
We forecast flat government spending for 2009 outside of several key programs, as a new administration takes a year to review and reshape existing initiatives.”
Samsung camera recognizes faces, names, shoe sizes...
Facial recognition is fast becoming a standard feature on compact cameras. But Samsung’s latest camera purports to take the technology to new heights.
The nine-megapixel ST10 can recognize individual people by analyzing faces as the shutter button is pressed, Samsung says.
The feature requires a little setting up. For example, you may have to take several snaps of Adam from different angles before the ST10 can automatically recognize him in future shots.
The technology also prioritizes friends, family and the frequently photographed so that the camera's smile mode will only take photos of recognized faces when they’re grinning.
The nine-megapixel ST10 can recognize individual people by analyzing faces as the shutter button is pressed, Samsung says.
The feature requires a little setting up. For example, you may have to take several snaps of Adam from different angles before the ST10 can automatically recognize him in future shots.
The technology also prioritizes friends, family and the frequently photographed so that the camera's smile mode will only take photos of recognized faces when they’re grinning.
Radical new tire design by Michelin. The next generation of tires.
These tires are airless and are scheduled to be out on the market very soon. The bad news for law enforcement is that spike strips will not work on these tires.This is what great R&D will do, and just think of the impact on existing technology: a... no more air valvesa... no more air compressors at gas stations and no more repair kitsS
CLICK BELOW AND SEE.These are actual pictures taken in the South Carolina plant of Michelin. It will be awhile before they are available to the automotive industry.
Technology to block phones in cars isn't foolproof
Many parents would love to be able to give their teenagers a cell phone that couldn't be used while driving. Now some inventors say they have come up with ways to make that possible, but they appear to be relying on wishful thinking.
One product to hit the market, $10-a-month software by Dallas-based WQN Inc., can disable a cell phone while its owner is driving. It uses GPS technology, which can tell how fast a person is traveling. But it can't know whether the person is driving — and therefore it can needlessly lock a phone. WQN, which sells cell phone and Internet security software under the name WebSafety, says it signed up about 50 customers for its first month of service.
(Read the rest of this interesting story at: http://news.yahoo.com/s/ap/20090119/ap_on_bi_ge/tec_cell_phones_driving
One product to hit the market, $10-a-month software by Dallas-based WQN Inc., can disable a cell phone while its owner is driving. It uses GPS technology, which can tell how fast a person is traveling. But it can't know whether the person is driving — and therefore it can needlessly lock a phone. WQN, which sells cell phone and Internet security software under the name WebSafety, says it signed up about 50 customers for its first month of service.(Read the rest of this interesting story at: http://news.yahoo.com/s/ap/20090119/ap_on_bi_ge/tec_cell_phones_driving
Wednesday, January 14, 2009
FINANCIAL PREDATORS ON THE PROWL
What Retirees and Near Retirees Should Know About Recognizing and Avoiding Fraud
— In a volatile economy consumers are susceptible to losing money. But one of the largest and fastest growing segments of society, the retirees, are being jeopardized by another risk—financial scams.
“Desperate to recover from market losses might compel investors to turn to alternative options. Retirees, in particular, are often lured by rogue investments or fraudulent scams,” says Brent Neiser, a Certified Financial Planner (CFP®) and director with the National Endowment for Financial Education® (NEFE®).
Many older Americans rely on their retirement savings nest eggs to supplement Social Security. But with frequent losses in the stock market, and receiving little to no return on some investments, many retirees seek ways to get higher returns and protect the assets that took a lifetime to build. This opens the door to the financial predators lurking in the shadows. While con artists don’t discriminate when it comes to initiating scams, perpetrators of investment and securities fraud frequently target wealthier Americans, particularly those who are retired or are nearing retirement. And the number of retirees as a percentage of the U.S. population will increase rapidly as approximately 75 million Americans turn age 60 over the next two decades.
“Avoidance of fraud by retirement-age Americans and their families is an essential part of retirement planning and management,” says Neiser, who is working on NEFE initiatives helping middle-income retirees protect their assets and make wise decisions about retirement. “Fraud can undo the best retirement plan and wipe out years of accumulated savings, assets and future investment returns to the point where they cannot be fully recovered.”
Defense against fraud comes with being able to identify the many different types of financial schemes that exist. According to the U.S. Securities and Exchange Commission, the following investment scams are commonly used to target Americans:
High-return or “risk-free” investments. Some unscrupulous brokers and investment advisers recommend unsuitable products that don’t meet the investment objectives or financial situations of investors. Inappropriate recommendations might occur when a broker sells speculative, high-risk investments such as options, futures or penny stocks to individuals who are near retirement or are retired and have a low-risk tolerance.
Pyramid schemes. In this classic scheme, fraudsters promise sky-high returns in a short period of time for doing nothing other than handing over money and getting others to do the same. Despite their claims to have legitimate products or services to sell, these deceivers spend much of the money on themselves and simply use money coming in from new recruits to pay off early stage investors. Although the products sold may be legitimate, eventually the pyramid will collapse. At some point the schemes get too big, the promoter cannot raise enough money from new investors to pay earlier investors and many people lose their money.
“Ponzi” schemes. These are a type of illegal pyramid scheme named for Charles Ponzi, who fooled thousands of New England residents into investing in a postage stamp speculation scheme back in the 1920s. Ponzi thought he could take advantage of differences between U.S. and foreign currencies used to buy and sell international mail coupons. He told investors he could provide a 40 percent return in just 90 days compared with 5 percent for bank savings accounts. Ponzi was deluged with funds from investors, taking in $1 million during one three-hour period. Though a few early investors were paid off to make the scheme look legitimate, an investigation found that Ponzi had only purchased about $30 worth of the international mail coupons. Today, the Ponzi scheme continues to work on the “rob-Peter-to-pay-Paul” principle, as money from new investors is used to pay off earlier investors until the whole scheme collapses.
Promissory notes. A promissory note is a type of debt that is similar to a loan or IOU and is used by a company to raise money. Typically, an investor agrees to loan money to the company for a set period of time. In exchange, the company promises to pay the investor a fixed return on the investment, typically principal plus annual interest. While promissory notes can be legitimate investments, those that are marketed broadly to individual investors often turn out to be nothing more than worthless paper. Most established companies have borrowing relationships with financial institutions, therefore this type of transaction among individuals is rare. Individual investors should exercise extreme caution with this type of investment.
Internet investment fraud. Internet investment fraud is similar to other fraud perpetrated over the phone or through the mail. Fraudsters use a variety of Internet tools, including bulletin boards, online newsletters, spam or chat rooms to spread false information. They also may build a sophisticated Web page to make their scam appear legitimate. The Internet has made off-shore scams very easy to implement and difficult to police because the perpetrators often reside outside of the U.S.
Affinity fraud. This fraud refers to investment scams that prey upon members of certain groups, such as religious or ethnic communities, the elderly or professional groups. Deceivers who promote affinity scams frequently are—or pretend to be—members of the group. They enlist respected community or religious leaders from within the group to spread the word about the scheme, by convincing people that a fraudulent investment is legitimate and worthwhile. Often, the leaders themselves become unwitting victims of the fraudster’s scheme.
— In a volatile economy consumers are susceptible to losing money. But one of the largest and fastest growing segments of society, the retirees, are being jeopardized by another risk—financial scams.
“Desperate to recover from market losses might compel investors to turn to alternative options. Retirees, in particular, are often lured by rogue investments or fraudulent scams,” says Brent Neiser, a Certified Financial Planner (CFP®) and director with the National Endowment for Financial Education® (NEFE®).
Many older Americans rely on their retirement savings nest eggs to supplement Social Security. But with frequent losses in the stock market, and receiving little to no return on some investments, many retirees seek ways to get higher returns and protect the assets that took a lifetime to build. This opens the door to the financial predators lurking in the shadows. While con artists don’t discriminate when it comes to initiating scams, perpetrators of investment and securities fraud frequently target wealthier Americans, particularly those who are retired or are nearing retirement. And the number of retirees as a percentage of the U.S. population will increase rapidly as approximately 75 million Americans turn age 60 over the next two decades.
“Avoidance of fraud by retirement-age Americans and their families is an essential part of retirement planning and management,” says Neiser, who is working on NEFE initiatives helping middle-income retirees protect their assets and make wise decisions about retirement. “Fraud can undo the best retirement plan and wipe out years of accumulated savings, assets and future investment returns to the point where they cannot be fully recovered.”
Defense against fraud comes with being able to identify the many different types of financial schemes that exist. According to the U.S. Securities and Exchange Commission, the following investment scams are commonly used to target Americans:
High-return or “risk-free” investments. Some unscrupulous brokers and investment advisers recommend unsuitable products that don’t meet the investment objectives or financial situations of investors. Inappropriate recommendations might occur when a broker sells speculative, high-risk investments such as options, futures or penny stocks to individuals who are near retirement or are retired and have a low-risk tolerance.
Pyramid schemes. In this classic scheme, fraudsters promise sky-high returns in a short period of time for doing nothing other than handing over money and getting others to do the same. Despite their claims to have legitimate products or services to sell, these deceivers spend much of the money on themselves and simply use money coming in from new recruits to pay off early stage investors. Although the products sold may be legitimate, eventually the pyramid will collapse. At some point the schemes get too big, the promoter cannot raise enough money from new investors to pay earlier investors and many people lose their money.
“Ponzi” schemes. These are a type of illegal pyramid scheme named for Charles Ponzi, who fooled thousands of New England residents into investing in a postage stamp speculation scheme back in the 1920s. Ponzi thought he could take advantage of differences between U.S. and foreign currencies used to buy and sell international mail coupons. He told investors he could provide a 40 percent return in just 90 days compared with 5 percent for bank savings accounts. Ponzi was deluged with funds from investors, taking in $1 million during one three-hour period. Though a few early investors were paid off to make the scheme look legitimate, an investigation found that Ponzi had only purchased about $30 worth of the international mail coupons. Today, the Ponzi scheme continues to work on the “rob-Peter-to-pay-Paul” principle, as money from new investors is used to pay off earlier investors until the whole scheme collapses.
Promissory notes. A promissory note is a type of debt that is similar to a loan or IOU and is used by a company to raise money. Typically, an investor agrees to loan money to the company for a set period of time. In exchange, the company promises to pay the investor a fixed return on the investment, typically principal plus annual interest. While promissory notes can be legitimate investments, those that are marketed broadly to individual investors often turn out to be nothing more than worthless paper. Most established companies have borrowing relationships with financial institutions, therefore this type of transaction among individuals is rare. Individual investors should exercise extreme caution with this type of investment.
Internet investment fraud. Internet investment fraud is similar to other fraud perpetrated over the phone or through the mail. Fraudsters use a variety of Internet tools, including bulletin boards, online newsletters, spam or chat rooms to spread false information. They also may build a sophisticated Web page to make their scam appear legitimate. The Internet has made off-shore scams very easy to implement and difficult to police because the perpetrators often reside outside of the U.S.
Affinity fraud. This fraud refers to investment scams that prey upon members of certain groups, such as religious or ethnic communities, the elderly or professional groups. Deceivers who promote affinity scams frequently are—or pretend to be—members of the group. They enlist respected community or religious leaders from within the group to spread the word about the scheme, by convincing people that a fraudulent investment is legitimate and worthwhile. Often, the leaders themselves become unwitting victims of the fraudster’s scheme.
Scams continue targeting CUs, consumers
Jim Bishop, a member of Park View FCU, Harrisonburg, Va., was so busy preparing for the upcoming holiday season last December that he didn't suspect anything was wrong when a scammer called him on Christmas Eve saying his account had been suspended.
Bishop received the call at 3:30 p.m. Bishop was told his Visa account had been suspended, and was asked to verify his card information. Bishop, who was in the middle of wrapping gifts and preparing food, provided his personal information to the "legitimate"-sounding individual (RocktownWeekly.com Jan. 3).
Shortly after hanging up, Bishop suspected that he had been duped. He quickly called Park View FCU, but received a recording that the credit union had closed at 3 p.m. for the holiday.
Read more on this story at: http://www.cuna.org/newsnow/09/system011309-5.html?ref=hed
Bishop received the call at 3:30 p.m. Bishop was told his Visa account had been suspended, and was asked to verify his card information. Bishop, who was in the middle of wrapping gifts and preparing food, provided his personal information to the "legitimate"-sounding individual (RocktownWeekly.com Jan. 3).Shortly after hanging up, Bishop suspected that he had been duped. He quickly called Park View FCU, but received a recording that the credit union had closed at 3 p.m. for the holiday.
Read more on this story at: http://www.cuna.org/newsnow/09/system011309-5.html?ref=hed
Wednesday, December 31, 2008
Bank to the Future
In the banking industry, hard times and holidays equal holdups, but one area financial institution has designed itself around cutting-edge robbery prevention.
According to Vice President Butch Holley, the Augusta Metro Federal Credit Union branch is the only "bank" in 150 square miles with such a forward-thinking layout.The unorthodox concept feels more like a Starbucks than a bank — right down to the smell. “If I could make the smell of apple pie appear when you walk in the front door, I would,” Holley says. “Since I can’t, the coffee pot is the next best thing.”
While the amenities are obvious and unconventional for a financial institution, they’re designed around security. Take the pod system, which places the member side by side with the teller.
Though such a setup might appear more exposed and vulnerable, the pod is actually built around a cash-dispensing unit, which is, in effect, its own ATM. In other words, a vault.
Each pod also has a security camera, a signature pad and an ID scanner, which makes it very easy to make sure the customer actually belongs to the account he’s trying to access.
The most impressive piece of technology, however, is the biometric hand scanner, which allows entry into the safety deposit box vault.“It’s a little James Bondish,” Holley admits, “but now you don’t have to wait for a vault teller, and people love that.”
The scanner itself only takes about five minutes to program, and, from there, a customer only has to enter his code, scan his hand and he’s allowed access to the vault.
According to Vice President Butch Holley, the Augusta Metro Federal Credit Union branch is the only "bank" in 150 square miles with such a forward-thinking layout.The unorthodox concept feels more like a Starbucks than a bank — right down to the smell. “If I could make the smell of apple pie appear when you walk in the front door, I would,” Holley says. “Since I can’t, the coffee pot is the next best thing.”
While the amenities are obvious and unconventional for a financial institution, they’re designed around security. Take the pod system, which places the member side by side with the teller.
Though such a setup might appear more exposed and vulnerable, the pod is actually built around a cash-dispensing unit, which is, in effect, its own ATM. In other words, a vault.Each pod also has a security camera, a signature pad and an ID scanner, which makes it very easy to make sure the customer actually belongs to the account he’s trying to access.
The most impressive piece of technology, however, is the biometric hand scanner, which allows entry into the safety deposit box vault.“It’s a little James Bondish,” Holley admits, “but now you don’t have to wait for a vault teller, and people love that.”
The scanner itself only takes about five minutes to program, and, from there, a customer only has to enter his code, scan his hand and he’s allowed access to the vault.
Tuesday, December 30, 2008
December - News & Views 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.
(Click on photos to enlarge)
Counterfeiting arrests up 28% this year
As the economy sours, more consumers are trying to pass counterfeit bills, according to a Sunday USA Today article.
The number of arrests for counterfeiting increased 28% this year and is the highest since 2004.
Counterfeiters passed a record $64.4 million in fake bills--a 5% increase over last year.
The spike in counterfeit bills is due to the struggling economy, Lt. Alfonzo Cook of the Moultrie, Ga., detective division, told USA Today.
More technologically advanced printers and scanners make the bills easier to duplicate, the newspaper said.
Police say counterfeiters use the fake bills for small purchases--such as $20 for gas and food. Counterfeiters also use the bills to pay for holiday gifts.
The holidays are a great time to use counterfeit bills because cashiers are overwhelmed, said John Large, Secret Service special agent.
The number of arrests for counterfeiting increased 28% this year and is the highest since 2004.Counterfeiters passed a record $64.4 million in fake bills--a 5% increase over last year.
The spike in counterfeit bills is due to the struggling economy, Lt. Alfonzo Cook of the Moultrie, Ga., detective division, told USA Today.
More technologically advanced printers and scanners make the bills easier to duplicate, the newspaper said.
Police say counterfeiters use the fake bills for small purchases--such as $20 for gas and food. Counterfeiters also use the bills to pay for holiday gifts.
The holidays are a great time to use counterfeit bills because cashiers are overwhelmed, said John Large, Secret Service special agent.
Saturday, December 20, 2008
Talk About Technology: USB Toaster
Don’t be tethered to the kitchen. Take your toast…to go! Now you can take a toaster everywhere you take your laptop. Insert a slice of any 
bread—white, wheat, even rye—and in 7-9 minutes, you have the kind of perfect toast you could only get from a computer.
Winner of the 2006 Gold Floppy Disc Award for Best Cooking Peripheral. No. It's not real. But the box is. Great gag gift for the technie in your family or office.
http://store.theonion.com/gotcha-gift-box-usb-toaster-p-71.html
bread—white, wheat, even rye—and in 7-9 minutes, you have the kind of perfect toast you could only get from a computer.Winner of the 2006 Gold Floppy Disc Award for Best Cooking Peripheral. No. It's not real. But the box is. Great gag gift for the technie in your family or office.
http://store.theonion.com/gotcha-gift-box-usb-toaster-p-71.html
Wednesday, December 17, 2008
Crimes via Text Messaging
A woman has changed her habit of how she lists her names on her mobile phone after her handbag was stolen. Her handbag, which contained her cell phone, credit card, wallet, etc. was stolen.
Twenty minutes later when she called her hubby, from a pay phone telling him what had happened, hubby says 'I received your text asking about our Pin number and I replied a little while ago.'
When they rushed down to the bank, the bank staff told them all the money was already withdrawn. The thief had actually used the stolen cell phone to text 'hubby' in the contact list and got hold of the pin number. Within 20 minutes he had withdrawn all the money from their bank account.
*Moral of the lesson: do not disclose the relationship between you and the people in your contact list. Avoid using names like Home, Honey, Hubby, Sweetheart, Dad, Mom, etc.... and very importantly, when sensitive info is asked of you through texts, CONFIRM by calling back.
*Also, when receiving a text from your friends or family to meet them somewhere that is not planned or usual, be sure to call back to confirm that the message came from them. If you don't reach them, be very careful about going places to meet 'family and friends' who text you.
As of right now, I no longer have 'home' named on my cell phone.
____________________________________________________________ Security Camera for your small business. Click Now!
Twenty minutes later when she called her hubby, from a pay phone telling him what had happened, hubby says 'I received your text asking about our Pin number and I replied a little while ago.'
When they rushed down to the bank, the bank staff told them all the money was already withdrawn. The thief had actually used the stolen cell phone to text 'hubby' in the contact list and got hold of the pin number. Within 20 minutes he had withdrawn all the money from their bank account.
*Moral of the lesson: do not disclose the relationship between you and the people in your contact list. Avoid using names like Home, Honey, Hubby, Sweetheart, Dad, Mom, etc.... and very importantly, when sensitive info is asked of you through texts, CONFIRM by calling back.
*Also, when receiving a text from your friends or family to meet them somewhere that is not planned or usual, be sure to call back to confirm that the message came from them. If you don't reach them, be very careful about going places to meet 'family and friends' who text you.
As of right now, I no longer have 'home' named on my cell phone.
____________________________________________________________ Security Camera for your small business. Click Now!
Tuesday, December 16, 2008
Things that are about to Go Extinct in America
25. Pit Toilets -- By the 2000 Census, the number of Americans who lacked indoor plumbing was down to 0.6%.
24. Yellow Pages -- This year will be pivotal for the global Yellow Pages industry.
23. Classified Ads -- The Internet has made so many things obsolete that newspaper classified ads might sound like just another trivial item on a long list.
22. Movie Rental Stores -- While Netflix is looking up at the moment, Blockbuster keeps closing store locations by the hundreds.
21. Dial-up Internet Access -- Dial-up connections have fallen from 40% in 2001 to 10% in 2008.
20. Telephone "Land Lines" -- Acording to a survey from the National Center for Health Statistics, at the end of 2007, nearly one in six homes was cell-only
19. Chesapeake Bay Blue Crabs, Maryland's icon, have been fading away in Chesapeake Bay.
18. VCRs -- For the better part of three decades, the VCR was a best-seller and staple in every American household until being completely decimated by the DVD, and now the Digital Video Recorder (DVR).
17. Ash Trees -- In the late 1990's a pretty, iridescent green species of beetle, now known as the emerald ash borer, hitched a ride to North America
16. Ham Radio -- Amateur radio operators enjoy personal (and often worldwide) wireless communications with each other
15. The Swimming Hole, thanks to our litigious society, is becoming a thing of the past.
14. Answering Machines -- The increasing disappearance of answering machines is directly tied to number 20 of our list -- the decline of land lines.
13. Cameras That Use Film -- It doesn't require a statistician to prove the rapid disappearance of the film camera in America.
12. Incandescent light bulbs -- Just a few years ago, the standard 60-watt (or, yikes, the 100-watt) bulb was the mainstay of every U.S. home.
11. Stand-Alone Bowling Alleys -- BowlingBalls.US claims there are still 60 million Americans who bowl at least once a year.
10. The Milkman -- According to the U.S. Department of Agriculture, in 1950, over half of the milk delivered was to the home in quart bottles.
9. Hand-Written Letters -- In 2006, the Radicati Group estimated that, worldwide, 183 billion e-mails were sent each day.
8. Wild Horses -- It is estimated that 100 years ago, as many as two million horses were roaming free within the United States.
7. Personal Checks -- According to an American Bankers Association report, a net 23% of consumers plan to decrease their use of checks over the next two years.
6. Drive-in Theaters -- During the peak in 1958, there were more than 4,000 drive-in theaters in this country.
5. Mumps & Measles -- Despite what's been in the news lately, the measles and mumps actually, truly are disappearing from the United States.
4. Honey Bees -- Perhaps nothing on our list of Disappearing America is so dire; plummeting so enormously; and as necessary to the survival of our food supply as the honey bee.
3. News Magazines and TV News -- While the TV evening newscasts haven't gone anywhere over the last several decades, their audiences have.
2. Analog TV -- According to the Consumer Electronics Association, 85% of homes in the U.S. get their television programming through cable or satellite providers.
1. The Family Farm -- Since the 1930's, the number of family farms has been declining rapidly.
See the entire list with more information on each category at: http://baycore.net/mb/index.php?action=printpage;topic=12196.0
24. Yellow Pages -- This year will be pivotal for the global Yellow Pages industry.
23. Classified Ads -- The Internet has made so many things obsolete that newspaper classified ads might sound like just another trivial item on a long list.
22. Movie Rental Stores -- While Netflix is looking up at the moment, Blockbuster keeps closing store locations by the hundreds.
21. Dial-up Internet Access -- Dial-up connections have fallen from 40% in 2001 to 10% in 2008.
20. Telephone "Land Lines" -- Acording to a survey from the National Center for Health Statistics, at the end of 2007, nearly one in six homes was cell-only
19. Chesapeake Bay Blue Crabs, Maryland's icon, have been fading away in Chesapeake Bay.
18. VCRs -- For the better part of three decades, the VCR was a best-seller and staple in every American household until being completely decimated by the DVD, and now the Digital Video Recorder (DVR).
17. Ash Trees -- In the late 1990's a pretty, iridescent green species of beetle, now known as the emerald ash borer, hitched a ride to North America
16. Ham Radio -- Amateur radio operators enjoy personal (and often worldwide) wireless communications with each other
15. The Swimming Hole, thanks to our litigious society, is becoming a thing of the past.
14. Answering Machines -- The increasing disappearance of answering machines is directly tied to number 20 of our list -- the decline of land lines.
13. Cameras That Use Film -- It doesn't require a statistician to prove the rapid disappearance of the film camera in America.
12. Incandescent light bulbs -- Just a few years ago, the standard 60-watt (or, yikes, the 100-watt) bulb was the mainstay of every U.S. home.
11. Stand-Alone Bowling Alleys -- BowlingBalls.US claims there are still 60 million Americans who bowl at least once a year.
10. The Milkman -- According to the U.S. Department of Agriculture, in 1950, over half of the milk delivered was to the home in quart bottles.
9. Hand-Written Letters -- In 2006, the Radicati Group estimated that, worldwide, 183 billion e-mails were sent each day.
8. Wild Horses -- It is estimated that 100 years ago, as many as two million horses were roaming free within the United States.
7. Personal Checks -- According to an American Bankers Association report, a net 23% of consumers plan to decrease their use of checks over the next two years.
6. Drive-in Theaters -- During the peak in 1958, there were more than 4,000 drive-in theaters in this country.
5. Mumps & Measles -- Despite what's been in the news lately, the measles and mumps actually, truly are disappearing from the United States.
4. Honey Bees -- Perhaps nothing on our list of Disappearing America is so dire; plummeting so enormously; and as necessary to the survival of our food supply as the honey bee.
3. News Magazines and TV News -- While the TV evening newscasts haven't gone anywhere over the last several decades, their audiences have.
2. Analog TV -- According to the Consumer Electronics Association, 85% of homes in the U.S. get their television programming through cable or satellite providers.
1. The Family Farm -- Since the 1930's, the number of family farms has been declining rapidly.
See the entire list with more information on each category at: http://baycore.net/mb/index.php?action=printpage;topic=12196.0
Friday, December 12, 2008
Secure Your Car by Not Using the Electronic Lock on Your Key Chain
I locked my car --- as I walked away I heard my car door unlock I went back and locked my car again three times. I looked around and there were two guys sitting in a car in the fire lane next to the store. When I looked straight at them they did not unlock my car again.
How to lock your car safely...
While traveling, my son stopped at a roadside park. He came out to his car less than 4-5 minutes later and found someone had gotten into his car, and stolen his cell phone, laptop computer, GPS navigator briefcase - you name it. He called the police and since there were no signs of his car being broken into, the police told him that there is a device that robbers are using now to clone your security code when you lock your doors on your car using your key-chain locking device. They sit a distance away and watch for their next victim. They know you are going inside of the store, restaurant, or bathroom and have a few minutes to steal and run.
The police officer said to be sure to manually lock your car door-by hitting the lock button inside the car. That way if there is someone sitting in a parking lot watching for their next victim it will not be you. When you hit the lock button on your car upon exiting, it does not send the security code. But if you walk away and use the door lock on your key chain, it sends the code through the airwaves where it can be stolen.
Be aware. Look how many times we all lock our doors with our keys. Just to be sure we remembered to lock them, and,bingo, someone has our code and whatever was in the car can be gone in minutes.
Keep safe everyone!
How to lock your car safely...
While traveling, my son stopped at a roadside park. He came out to his car less than 4-5 minutes later and found someone had gotten into his car, and stolen his cell phone, laptop computer, GPS navigator briefcase - you name it. He called the police and since there were no signs of his car being broken into, the police told him that there is a device that robbers are using now to clone your security code when you lock your doors on your car using your key-chain locking device. They sit a distance away and watch for their next victim. They know you are going inside of the store, restaurant, or bathroom and have a few minutes to steal and run.The police officer said to be sure to manually lock your car door-by hitting the lock button inside the car. That way if there is someone sitting in a parking lot watching for their next victim it will not be you. When you hit the lock button on your car upon exiting, it does not send the security code. But if you walk away and use the door lock on your key chain, it sends the code through the airwaves where it can be stolen.
Be aware. Look how many times we all lock our doors with our keys. Just to be sure we remembered to lock them, and,bingo, someone has our code and whatever was in the car can be gone in minutes.
Keep safe everyone!
Monday, December 8, 2008
Biometric Face Recognition System Leads to First Arrest
The Sagem Morpho MorphoFace Investigate (MFI) system has scored its first arrest in Pierce County, Washington. The Pierce County Sheriff’s Department used the MFI biometric facial recognition application to identify a suspect by comparing an automatic teller machine (ATM) photograph against the department’s digital database of 350,000 mug shots.
Sagem Morpho’s MFI is a robust and scalable facial recognition application that includes case evidence management, biometric matching, and forensic evaluation tools for investigative and crime solving tasks. The automated system enables law enforcement and intelligence analysts to quickly compare photographs of suspects against large databases of images, such as mug shot, driver’s license, or terrorist watch lists, and make identifications within seconds.
Located in the Seattle Metropolitan area, the Pierce County Sheriff’s Department (PCSD) became the first law enforcement agency in the United States to deploy the MFI system as part of a pilot initiated in summer 2008. In the booking process, PCSD uses an Automated Fingerprint Identification System (AFIS) to check if a suspect is in its criminal database and then fingerprint examiners to validate the results. The addition of the facial recognition tool for mug shot comparison allows PCSD to validate biometric identifications with a single examiner, reducing demands on staff and speeding the overall process.
“[MFI] eliminates 80 to 85 percent of the work in booking repeat offenders,” said Steve Wilkins, PCSD Forensic Investigations Manager. “Within minutes, the criminal record can be updated.”
PCSD took the MFI application a step further in September to help break up a local identity theft ring that had been stealing ATM cards and using them to withdraw money from the victims’ bank accounts. The only evidence obtained by detectives was a grainy photograph taken of a suspect by an ATM camera during one of the fraudulent transactions. Despite the poor quality of the photo, MFI searched the 350,000-mug shot digital database and returned two possible matches in less than 5 seconds.
Sagem Morpho’s MFI is a robust and scalable facial recognition application that includes case evidence management, biometric matching, and forensic evaluation tools for investigative and crime solving tasks. The automated system enables law enforcement and intelligence analysts to quickly compare photographs of suspects against large databases of images, such as mug shot, driver’s license, or terrorist watch lists, and make identifications within seconds.
Located in the Seattle Metropolitan area, the Pierce County Sheriff’s Department (PCSD) became the first law enforcement agency in the United States to deploy the MFI system as part of a pilot initiated in summer 2008. In the booking process, PCSD uses an Automated Fingerprint Identification System (AFIS) to check if a suspect is in its criminal database and then fingerprint examiners to validate the results. The addition of the facial recognition tool for mug shot comparison allows PCSD to validate biometric identifications with a single examiner, reducing demands on staff and speeding the overall process.
“[MFI] eliminates 80 to 85 percent of the work in booking repeat offenders,” said Steve Wilkins, PCSD Forensic Investigations Manager. “Within minutes, the criminal record can be updated.”
PCSD took the MFI application a step further in September to help break up a local identity theft ring that had been stealing ATM cards and using them to withdraw money from the victims’ bank accounts. The only evidence obtained by detectives was a grainy photograph taken of a suspect by an ATM camera during one of the fraudulent transactions. Despite the poor quality of the photo, MFI searched the 350,000-mug shot digital database and returned two possible matches in less than 5 seconds.
FDIC Analysis: Banks Charging Billions in Overdraft Fees
On the heels of a new FDIC study showing that banks are charging Americans billions of dollars in overdraft fees, The Center for Economic and Entrepreneurial Literacy (http://www.econ4u.org/) is educating consumers about the importance of avoiding these fees. Most people do not realize that a bank overdraft fee comes at a higher interest rate and greater cost than any other imaginable loan.
A customer who makes an on-premise purchase with a debit
card and overdraws their account by $20, paying it back in two weeks later, will suffer an average overdraft fee equal to 3,520 annual percentage rate (APR) in interest. And it could be even worse! If the customer overdraws by just $1 and pays it back in two weeks, some of the higher bank fees - $37 or more – are the equivalent of 96,200 percent APR. Those interest rates dwarf by wide margins what a borrower would pay for a wire transfer loan from a friend or family member, a credit card cash advance, or a short-term payday loan.
The small sample of banks surveyed by the FDIC earned $1.97 billion in overdraft-related fees in 2006, representing 74% of their overall $2.66 billion in service charges on deposit accounts. Outside groups estimate that banks in total cleared $17.5 billion in 2007 in overdraft fees alone.
Large banks often reorder transactions from largest to smallest in order to maximize the number of charges and fees they can collect for overdrafts or bounced checks. It is estimated that that nearly half of consumers pay overdraft fees every year! And the FDIC survey found that the most vulnerable Americans – youth and those with lower incomes – were more likely to be hit with these fees.
“Borrower beware: The myth of the responsible neighborhood bank is long gone, as the most vulnerable Americans are being hit with hidden fees and service charges,” said James Bowers, managing director of the Center for Economic and Entrepreneurial Literacy. “Somehow overdrafting checking accounts became a common practice, particularly among young Americans. The public needs to understand that the interest and fees on these overdrafts are far more expensive than any other conceivable form of short-term borrowing.”
A customer who makes an on-premise purchase with a debit
card and overdraws their account by $20, paying it back in two weeks later, will suffer an average overdraft fee equal to 3,520 annual percentage rate (APR) in interest. And it could be even worse! If the customer overdraws by just $1 and pays it back in two weeks, some of the higher bank fees - $37 or more – are the equivalent of 96,200 percent APR. Those interest rates dwarf by wide margins what a borrower would pay for a wire transfer loan from a friend or family member, a credit card cash advance, or a short-term payday loan.The small sample of banks surveyed by the FDIC earned $1.97 billion in overdraft-related fees in 2006, representing 74% of their overall $2.66 billion in service charges on deposit accounts. Outside groups estimate that banks in total cleared $17.5 billion in 2007 in overdraft fees alone.
Large banks often reorder transactions from largest to smallest in order to maximize the number of charges and fees they can collect for overdrafts or bounced checks. It is estimated that that nearly half of consumers pay overdraft fees every year! And the FDIC survey found that the most vulnerable Americans – youth and those with lower incomes – were more likely to be hit with these fees.
“Borrower beware: The myth of the responsible neighborhood bank is long gone, as the most vulnerable Americans are being hit with hidden fees and service charges,” said James Bowers, managing director of the Center for Economic and Entrepreneurial Literacy. “Somehow overdrafting checking accounts became a common practice, particularly among young Americans. The public needs to understand that the interest and fees on these overdrafts are far more expensive than any other conceivable form of short-term borrowing.”
200 Million Weapons Owned by US Citizens
A recent reply at a security sight caught my attention . . .
"The Coming Terrorist Attacks VERY IMPORTANT REPORT
Today I read that 200,000,000 weapons are privately owned by US citizens and 30,000 people per year are killed by these weapons. Is somebody able to explain me why 30,000 victims per year are tolerated whenkilled by private weapons, but far less cannot betolerated when killed by terrorists or even in war?
What is the difference for the victims?
Unfortunately, the news message did not inform about the number of peoplewho could be saved by private weapons. Maybe, this number is higher than 30,000. If so, it would not be a satisfying but an intelligible answer for me. But I would prefer that the 30,000 is ahoax!"
"The Coming Terrorist Attacks VERY IMPORTANT REPORT
Today I read that 200,000,000 weapons are privately owned by US citizens and 30,000 people per year are killed by these weapons. Is somebody able to explain me why 30,000 victims per year are tolerated whenkilled by private weapons, but far less cannot betolerated when killed by terrorists or even in war?
What is the difference for the victims?
Unfortunately, the news message did not inform about the number of peoplewho could be saved by private weapons. Maybe, this number is higher than 30,000. If so, it would not be a satisfying but an intelligible answer for me. But I would prefer that the 30,000 is ahoax!"
Friday, December 5, 2008
Between Google and LinkedIn, identity management becomes a farce
What I find amazing is the number of people who are involved in various aspects of security and supposedly aware of basic security policy, continue to provide endless information about themselves and all the people they are connected with on LinkedIn. Every day, LinkedIn sends a daily bulletin to members with a list of new members who have joined the list of a members you are connected with including who they know and to which organizations they and their associates belong.
Members are more interested in having as many contacts as possible than they are about their own privacy or security. Between Google and LinkedIn, identity management becomes a farce.
One becomes a member simply by sending their true or alias name to LinkedIn. If I were to submit a well known and semi-famous alias that is known to several members of the group, I am sure that they would be flattered to have me on their list of LinkedIn associates and would be openly invited to join their list. I would slowly move up the ladder with their LinkedIn associates. Then by simple social engineering I would move about freely obtaining information and recommendation without any problem. I could then send to any of these trusting persons emails outside of LinkedIn with an innocent attachment containing a simple Trojan program that would allow me to obtain any data I needed from their computer.
Many years ago, I was invited by a friend to join LinkedIn. Flattered, I replied and filled out the application form. The very next day, I received an email bulletin containing the name of the member who invited me to join with his full biography. Soon, I began receiving requests from people I knew and had never heard. The potential dangers became all to apparent and I just stopped.
Identity management is not only academic, it is an everyday policy that people in the digital world need not only preach but practice.
Members are more interested in having as many contacts as possible than they are about their own privacy or security. Between Google and LinkedIn, identity management becomes a farce.One becomes a member simply by sending their true or alias name to LinkedIn. If I were to submit a well known and semi-famous alias that is known to several members of the group, I am sure that they would be flattered to have me on their list of LinkedIn associates and would be openly invited to join their list. I would slowly move up the ladder with their LinkedIn associates. Then by simple social engineering I would move about freely obtaining information and recommendation without any problem. I could then send to any of these trusting persons emails outside of LinkedIn with an innocent attachment containing a simple Trojan program that would allow me to obtain any data I needed from their computer.
Many years ago, I was invited by a friend to join LinkedIn. Flattered, I replied and filled out the application form. The very next day, I received an email bulletin containing the name of the member who invited me to join with his full biography. Soon, I began receiving requests from people I knew and had never heard. The potential dangers became all to apparent and I just stopped.
Identity management is not only academic, it is an everyday policy that people in the digital world need not only preach but practice.
Jwaala Wins CUNA Technology Council’s 2008 “Best of Show” Award
The CUNA Technology Council awarded its 8th Annual BAI Retail Delivery Conference “Best of Show” award, to online banking innovator Jwaala for its MoneyTracker online banking applications. With an impressive list of powerful features and capabilities, MoneyTracker, is shaking up the industry with an exciting look at things to come in online banking. Logon to www.jwaala.com for a demo, today!
Thursday, December 4, 2008
Employee perceptions of CUs have operations implications
A Filene Research Institute study concludes that employees' perceptions of their credit union may have implications for management about the credit union's operations in six areas.
The study, "Employee Perceptions of Credit Unions: Implications for Member Profitability," was the topic of a News Now story Sept. 24.
Further implications of the study's findings for senior management are also discussed, according to a review by the Texas Credit Union League (LoneStar Leaguer Dec. 3).
The six implications are:
1. Credit unions are different. If employees commit to what a credit union is, member outreach should be more successful. "It is one thing to claim, 'We have low interest rates on loans,' but is quite another to be able to say why."
2. Employees are "almost there." They are fairly committed to the idea of a credit union, and they almost unanimously agree that knowing about credit unions is important. Still, the shared understanding remains mostly implicit and is not readily articulated. When asked to explain credit unions in a face-to-face context, employees generally offer only small parts of the whole.
3. "Ours is not to reason why." Most employees do not see the credit union's characteristics as logically or causally connected. They associate different features with these but not in a clear fashion. The study suggests embedding causal ideas within a story or mythic framework to reach rank-and-file employees. This would give them a template for explaining credit unions to nonmembers.
4. Trust may be a hidden strength. "Trustworthiness" describes a credit union, but it did not figure prominently in the way employees talk about credit unions in face-to-face interviews--a missed opportunity for credit unions to build on trust as a primary differentiator. Trust may be a feature best expressed tangentially but it is an asset that should not be ignored, the study said.
5. Some employee groups are not as 'on board' as others. One such group is the most educated group. Many of these employees may see credit unions as substituting ideology and emotion for performance. They are more negative about credit unions' future, see more "dead wood" among fellow employees, and see deficiencies in efficiency, competence and professionalism.
6. Local institutional cultures matter. Employee commitment, consensus score, degree of trust and wanting to know about credit unions vary significantly by local credit union. That means local management styles and education programs can make a difference; these indicators rise and fall together, suggesting each influences the rest; and all are to some degree contagious in the sense that levels of commitment, trust and so one are self-propagating among employees.
The study, "Employee Perceptions of Credit Unions: Implications for Member Profitability," was the topic of a News Now story Sept. 24.
Further implications of the study's findings for senior management are also discussed, according to a review by the Texas Credit Union League (LoneStar Leaguer Dec. 3).
The six implications are:
1. Credit unions are different. If employees commit to what a credit union is, member outreach should be more successful. "It is one thing to claim, 'We have low interest rates on loans,' but is quite another to be able to say why."
2. Employees are "almost there." They are fairly committed to the idea of a credit union, and they almost unanimously agree that knowing about credit unions is important. Still, the shared understanding remains mostly implicit and is not readily articulated. When asked to explain credit unions in a face-to-face context, employees generally offer only small parts of the whole.
3. "Ours is not to reason why." Most employees do not see the credit union's characteristics as logically or causally connected. They associate different features with these but not in a clear fashion. The study suggests embedding causal ideas within a story or mythic framework to reach rank-and-file employees. This would give them a template for explaining credit unions to nonmembers.
4. Trust may be a hidden strength. "Trustworthiness" describes a credit union, but it did not figure prominently in the way employees talk about credit unions in face-to-face interviews--a missed opportunity for credit unions to build on trust as a primary differentiator. Trust may be a feature best expressed tangentially but it is an asset that should not be ignored, the study said.
5. Some employee groups are not as 'on board' as others. One such group is the most educated group. Many of these employees may see credit unions as substituting ideology and emotion for performance. They are more negative about credit unions' future, see more "dead wood" among fellow employees, and see deficiencies in efficiency, competence and professionalism.
6. Local institutional cultures matter. Employee commitment, consensus score, degree of trust and wanting to know about credit unions vary significantly by local credit union. That means local management styles and education programs can make a difference; these indicators rise and fall together, suggesting each influences the rest; and all are to some degree contagious in the sense that levels of commitment, trust and so one are self-propagating among employees.
Wednesday, December 3, 2008
10 classic clueless-user stories
Technology may be evolving at warp speed, but one thing about IT will never change: Techs love to swap stories about the deficiencies of their users. The dumber, the better. That's just the way it works. How else are you going to make it through the week if you don't get to shake your head in disbelief after hearing at least one tale of epic confusion, ignorance, or arrogance?
>> Icon by any other name
I had one user, the sweetest lady, who was not very computer literate. After she got her new computer, she said, "Where are my programs?" I told her that I had made shortcuts on her desktop to the programs she used. She said, "When I click on the icon, that's not the right program." When I asked her which program she was referring to, she said, "The third icon down." I asked her which program that was. "Oh, I don't know the name of it. I just know on my old computer, it was the third icon down program."
This one took a while.
>> Money's worth
Client: I don't understand why that accounting software cost so much. It's only been used once.
Consultant: What do you mean, it's only been used once? You use it every day.
Client: No, I don't. You used it once when you put the program on my computer and it's been sitting in the box ever since.
...Time to get my money up front....
>> IRQ sale
One of the contractors in my office ordered a new computer through his company. Unfortunately, he ordered a NIC with an RJ45 connector and we were on a coax network at the time. This was back in the days of Win95. I informed him of the problem and said I had a spare NIC to give him if he would order the correct NIC to replace the one I provided.
He got on the phone with his company and complained about the NIC. This guy thinks he is a computer genius, but really just thinks that bigger, better, and more are always the solution. So he ordered everything he could think of in this computer. Not a single bay was open and most of the slots were filled. Needless to say he had an IRQ problem. His company gave him the number of the computer company and told him to call their sales department. I was happy to see him on the phone because then he wasn't bothering me while I set up his computer. I overheard him say to the sales department, "My land guy says I'm out of IRQs. Can I buy some more of those?"
>> Retention dissension
We currently have a great policy for keeping e-mail to a minimum. It's only kept 90 days, then it's deleted, so if you want to save it past the retention period, you have to put it into a file somehow.This has been in effect for several years, but amazingly, we had a couple of executives in the legal dept who built up 40,000 messages in their inboxes each, without having any deleted. I finally got the connection when the new "retention
>> ####
One of our marketing managers complained that he couldn't make any sense of a telephone management spreadsheet I'd sent him because he couldn't see when the calls were made. I explained that each worksheet in the spreadsheet had a name and the name indicated the applicable month. Two minutes later, he arrived at my desk saying that he still couldn't make any sense of the spreadsheet because there were no dates in the worksheets. I opened my copy and showed him that the dates and times were in column A. He then tried to tell me that I had sent him the wrong file because his column A just had "stars" in it! Oh boy—was his face red when I showed him how to expand the column! Makes you think, huh?!
To chuckle at the rest of the stories, go to: http://i.i.com.com/cnwk.1d/i/tr/downloads/home/dl_10_clueless.pdf
>> Icon by any other name
I had one user, the sweetest lady, who was not very computer literate. After she got her new computer, she said, "Where are my programs?" I told her that I had made shortcuts on her desktop to the programs she used. She said, "When I click on the icon, that's not the right program." When I asked her which program she was referring to, she said, "The third icon down." I asked her which program that was. "Oh, I don't know the name of it. I just know on my old computer, it was the third icon down program."
This one took a while.
>> Money's worth
Client: I don't understand why that accounting software cost so much. It's only been used once.
Consultant: What do you mean, it's only been used once? You use it every day.
Client: No, I don't. You used it once when you put the program on my computer and it's been sitting in the box ever since.
...Time to get my money up front....
>> IRQ sale
One of the contractors in my office ordered a new computer through his company. Unfortunately, he ordered a NIC with an RJ45 connector and we were on a coax network at the time. This was back in the days of Win95. I informed him of the problem and said I had a spare NIC to give him if he would order the correct NIC to replace the one I provided.
He got on the phone with his company and complained about the NIC. This guy thinks he is a computer genius, but really just thinks that bigger, better, and more are always the solution. So he ordered everything he could think of in this computer. Not a single bay was open and most of the slots were filled. Needless to say he had an IRQ problem. His company gave him the number of the computer company and told him to call their sales department. I was happy to see him on the phone because then he wasn't bothering me while I set up his computer. I overheard him say to the sales department, "My land guy says I'm out of IRQs. Can I buy some more of those?"
>> Retention dissension
We currently have a great policy for keeping e-mail to a minimum. It's only kept 90 days, then it's deleted, so if you want to save it past the retention period, you have to put it into a file somehow.This has been in effect for several years, but amazingly, we had a couple of executives in the legal dept who built up 40,000 messages in their inboxes each, without having any deleted. I finally got the connection when the new "retention
>> ####
One of our marketing managers complained that he couldn't make any sense of a telephone management spreadsheet I'd sent him because he couldn't see when the calls were made. I explained that each worksheet in the spreadsheet had a name and the name indicated the applicable month. Two minutes later, he arrived at my desk saying that he still couldn't make any sense of the spreadsheet because there were no dates in the worksheets. I opened my copy and showed him that the dates and times were in column A. He then tried to tell me that I had sent him the wrong file because his column A just had "stars" in it! Oh boy—was his face red when I showed him how to expand the column! Makes you think, huh?!
To chuckle at the rest of the stories, go to: http://i.i.com.com/cnwk.1d/i/tr/downloads/home/dl_10_clueless.pdf
Tuesday, December 2, 2008
Companies That Don't Believe in Christmas
Don't you just hate it when people or organizations want to change history?
It's this time of the year when some companies and organizations don't want to recognize "Christmas." They sort of want it to go away - but only after they take your money. They want to pretend it never existed - but only after they take your money. They want to make sure certain groups are happy - but only after they take your money.
Let's see. How long has Christmas been around? About 2,008 years or so. The same is true of many holidays being around for a long time. Easter is another one. How about Memorial Day? I don't like the word "Memorial." It's a bit of a negative word. How about we get a movement underway to call it something else . . . like "That Day," or "National Shopping Day."
Here's a company that doesn't believe in Christmas - Costco (but only after they take your money).
Costco has 520 stores nationwide. But you will not find "Christmas" in a single store.
That's because Costco says it will not use the term "Christmas" on its website or in its stores. Instead, Costco is telling customers it purposely chooses to use the generic "holiday" verbiage. You know, they stock holiday gifts, not Christmas gifts.
Last week, a customer wrote to Costco and asked this direct question – "Does Costco use the word 'Christmas' in your store advertising or on any signs anywhere in your stores during the Christmas season? That's a pretty simple question, yes or no."
Kory Rosacrans, staff manager for Costco replied, "I guess the answer would be No."
Costco wants you to do your "Christmas" shopping with them, while refusing to recognize that Christmas even exists. I betcha they believe in Santa - as they take your money.
It's this time of the year when some companies and organizations don't want to recognize "Christmas." They sort of want it to go away - but only after they take your money. They want to pretend it never existed - but only after they take your money. They want to make sure certain groups are happy - but only after they take your money.
Let's see. How long has Christmas been around? About 2,008 years or so. The same is true of many holidays being around for a long time. Easter is another one. How about Memorial Day? I don't like the word "Memorial." It's a bit of a negative word. How about we get a movement underway to call it something else . . . like "That Day," or "National Shopping Day."
Here's a company that doesn't believe in Christmas - Costco (but only after they take your money).
Costco has 520 stores nationwide. But you will not find "Christmas" in a single store.
That's because Costco says it will not use the term "Christmas" on its website or in its stores. Instead, Costco is telling customers it purposely chooses to use the generic "holiday" verbiage. You know, they stock holiday gifts, not Christmas gifts.
Last week, a customer wrote to Costco and asked this direct question – "Does Costco use the word 'Christmas' in your store advertising or on any signs anywhere in your stores during the Christmas season? That's a pretty simple question, yes or no."
Kory Rosacrans, staff manager for Costco replied, "I guess the answer would be No."
Costco wants you to do your "Christmas" shopping with them, while refusing to recognize that Christmas even exists. I betcha they believe in Santa - as they take your money.
Symposium sheds light on bank security issues
ATMs are an increasing target for thieves, said attendees and speakers at the 2008 ADT Financial Security Symposium held last month in Florida.
The Latest from SIWSymposium sheds light on bank security issues
In late November, the FBI released bank crime numbers for the second quarter of 2008. In that time period, banks faced more than 1,400 robberies. The numbers were down, according to FBI Criminal Investigative Division Assistant Director Kenneth W. Kaiser, but he said "the propensity for violence during bank crimes remains a concern."
In 58 of those incidents (from a total of 1,443 incidents tracked by the FBI during that quarter), violence was involved. That included assaults, hostage situations and even deaths, noted Kaiser.
It was exactly that kind of criminal problem that brought members of many U.S. banks together for the 2008 ADT Financial Security Symposium in West Palm Beach, Fla., from Nov. 18-20.
Representatives from both enormous banks (Bank of America, for instance) and regional banks (Bank of Tampa, for example) met in the same room, hashed out common problems and tried to anticipate their future challenges. They sat in on lectures, networked over coffees, and even formed table-size workgroups to speculate on how to deal with select incidents. They talked budgets and buy-outs which precipitated from the economic recession and murmured between themselves about how that would affect security spending.
Speakers included representatives of the FBI, Postal Service, ADT technology whizzes, a workplace violence consultant, public safety specialists and others. Around the room and available for browsing during breaks were some of the emerging technologies for preventing criminal incidents. On table-tops, attendees could inspect top-notch video surveillance systems, sophisticated access control programs and even systems that would block credit card and ATM card skimming. ("Skimming" is the process of getting a card-holder to present their card and sometimes PIN to a fraudulent card reader which captures the card and access PIN information.)
In regards to the FBI statistics, these security leaders were here because financial crimes are a big problem. Just in that second quarter of 2008, robberies meant the loss of approximately $12.5 million according to the FBI's numbers. In the same quarter, monies recovered from bank robberies totaled only $1.7 million.
One of the common problems security directors said they were facing were instances of ATM thefts.
Read more about these problems at: http://www.securityinfowatch.com/online/Financial/Symposium-sheds-light-on-bank-security-issues/18954SIW339
The Latest from SIWSymposium sheds light on bank security issues
In late November, the FBI released bank crime numbers for the second quarter of 2008. In that time period, banks faced more than 1,400 robberies. The numbers were down, according to FBI Criminal Investigative Division Assistant Director Kenneth W. Kaiser, but he said "the propensity for violence during bank crimes remains a concern."
In 58 of those incidents (from a total of 1,443 incidents tracked by the FBI during that quarter), violence was involved. That included assaults, hostage situations and even deaths, noted Kaiser.
It was exactly that kind of criminal problem that brought members of many U.S. banks together for the 2008 ADT Financial Security Symposium in West Palm Beach, Fla., from Nov. 18-20.
Representatives from both enormous banks (Bank of America, for instance) and regional banks (Bank of Tampa, for example) met in the same room, hashed out common problems and tried to anticipate their future challenges. They sat in on lectures, networked over coffees, and even formed table-size workgroups to speculate on how to deal with select incidents. They talked budgets and buy-outs which precipitated from the economic recession and murmured between themselves about how that would affect security spending.
Speakers included representatives of the FBI, Postal Service, ADT technology whizzes, a workplace violence consultant, public safety specialists and others. Around the room and available for browsing during breaks were some of the emerging technologies for preventing criminal incidents. On table-tops, attendees could inspect top-notch video surveillance systems, sophisticated access control programs and even systems that would block credit card and ATM card skimming. ("Skimming" is the process of getting a card-holder to present their card and sometimes PIN to a fraudulent card reader which captures the card and access PIN information.)
In regards to the FBI statistics, these security leaders were here because financial crimes are a big problem. Just in that second quarter of 2008, robberies meant the loss of approximately $12.5 million according to the FBI's numbers. In the same quarter, monies recovered from bank robberies totaled only $1.7 million.
One of the common problems security directors said they were facing were instances of ATM thefts.
Read more about these problems at: http://www.securityinfowatch.com/online/Financial/Symposium-sheds-light-on-bank-security-issues/18954SIW339
Sunday, November 30, 2008
November - News & Views 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.(Click on photos to enlarge)
Wednesday, November 26, 2008
Symantec puts value of underground transactions at $275M
Those of you looking for statistics to justify your security budgets for next year, look no further: Symantec has released their view of the underground economy as it has evolved over the past year.
The qualitative information in the report is amusing, but the quantitative information has far more value to anyone trying to build a justification for infrastructure and security services related to PCI-DSS. For example, the report puts the market value of the traded goods, including financial credentials, at around $275M. This total market value is dwarfed by the potential amount of cash that can be extracted by the underground using these accounts.
If you ignore the numbers, there is not too much new for those of you who have been following how pilfered data is traded on the underground. Most of the statements made in the document have been previously reduced to platitudes and anecdotes that have circulated at conferences and blogs for some time now. However, it is pretty rare that such data is collected with rigor and provided with solid analysis, and for that reason the report is useful.
The qualitative information in the report is amusing, but the quantitative information has far more value to anyone trying to build a justification for infrastructure and security services related to PCI-DSS. For example, the report puts the market value of the traded goods, including financial credentials, at around $275M. This total market value is dwarfed by the potential amount of cash that can be extracted by the underground using these accounts.
If you ignore the numbers, there is not too much new for those of you who have been following how pilfered data is traded on the underground. Most of the statements made in the document have been previously reduced to platitudes and anecdotes that have circulated at conferences and blogs for some time now. However, it is pretty rare that such data is collected with rigor and provided with solid analysis, and for that reason the report is useful.
A Holiday Killer. Unless You Get Hit
A recession is when your neighbor gets laid off. A depression is when you get terminated. With credit cards, fraud is not a big deal. Unless it’s your number that’s for sale, online.
A Symantec report says the underground economy is booming. The total value of goods and services was “more than” $276 million. The most popular stuff: Bank account credentials and credit cards that have CVV2 security codes with them.
But bank account credentials can be had for as little as $10. Credit cards with security codes? As little as 10 cents, up to $25 each.
What does the thief get?
Symantec figures the average balance per credit card at $4,000, yielding a potential spend of $5.3 billion. Average bank account? $40,000, yielding a potential spend of $1.7 billion.
All told, about $7 billion of money to spend. If you’re willing to go underground and get it.
That’s not chump change — if the sellers can get buyers to cough up the $276 million to buy $7 billion of purchasing “power.”
But it’s not a holiday killer. Online merchants are likely to pull in $32 billion of sales this Christmas, Hannukah and general gift-giving season, according to eMarketer. And Nielsen, at least as of October 9, was still predicting in-store sales this holiday season to rise 4.7% to $98 billion. Unit sales may be flat, but dollar sales will be up, the research firm said.
So even if every one of the 1.3 million credit cards and 42,500 bank accounts at risk, by interpolating Symantec’s numbers, are purchased and exploited to the full, that would only pump up the holiday season another 5%.Until the sales got reversed by complaining card and account holders and start to wipe out merchants’ earnings.
Tuesday, November 25, 2008
A Most Interesting and Must See Web Site
This is a very unsual web site. It's for a department store and displays a number of their products. It's in a foreign language (The Netherlands) so don't worry about reading. It's the visuals that are interesting. Before you leave the home page, you will have viewed every product on that page.
It would be interesting to see a credit union site along these lines showing all the CUs services. Go to: http://producten.hema.nl/
Allow a minute for the downloading.
It would be interesting to see a credit union site along these lines showing all the CUs services. Go to: http://producten.hema.nl/
Allow a minute for the downloading.
TEN things to say when caught sleeping @ your desk
10. "They told me at the Blood Bank this might happen."
9. "This is just a 15 minute power nap they raved about in the time management course you sent me too."
8. "Whew! Guess I left the top off the Whiteout. You probably got here just in time."
7. "I wasn't sleeping! I was meditating on the mission statement and envisioning a new business strategy."
6. "I was testing my keyboard for drool resistance."
5. "I was doing a highly specific Yoga exercise to relieve work-related stress. Are you discriminatory toward people who practice Yoga?"
4. "Darn! Why did you interrupt me? I had almost figured out how to handle that big accounting problem."
3. "Did you ever notice sound coming out of these keyboards when you put your ear down real close?"
2. "Who put decaf in the wrong pot?!?"
NUMBER ONE best thing to say if you get caught sleeping at your desk........
1. Raise your head slowly and say, "...in Jesus name,"Amen."
9. "This is just a 15 minute power nap they raved about in the time management course you sent me too."
8. "Whew! Guess I left the top off the Whiteout. You probably got here just in time."
7. "I wasn't sleeping! I was meditating on the mission statement and envisioning a new business strategy."
6. "I was testing my keyboard for drool resistance."
5. "I was doing a highly specific Yoga exercise to relieve work-related stress. Are you discriminatory toward people who practice Yoga?"
4. "Darn! Why did you interrupt me? I had almost figured out how to handle that big accounting problem."
3. "Did you ever notice sound coming out of these keyboards when you put your ear down real close?"
2. "Who put decaf in the wrong pot?!?"
NUMBER ONE best thing to say if you get caught sleeping at your desk........
1. Raise your head slowly and say, "...in Jesus name,"Amen."
School Credit Union Customers Have Accounts Cleaned Out
The Seminole Schools Federal Credit Union is trying to figure out how at least eight of its members fell victim to what they believe is a skimmer scam. Somehow, the credit union believes, all eight victims had their credit cards cloned and their accounts cleaned out.
Skimming are on the up-tick nationwide, but no one seems to know the common purchase point, where all the local victims swiped a card and thieves swiped their account information.
Sanford police poured through page after page of account data Monday morning, the first business day after at least eight Seminole Schools Federal Credit Union members found that every dollar in their checking accounts had been stolen from right under their nose.
"I came in crying," victim Gemara Goodwin said.Like many credit union members, Gemara teaches in the Seminole County Public School District. She only realized the $800 in her account had been stolen when she logged in online. [Read story at WFTC.com].
Skimming are on the up-tick nationwide, but no one seems to know the common purchase point, where all the local victims swiped a card and thieves swiped their account information.
Sanford police poured through page after page of account data Monday morning, the first business day after at least eight Seminole Schools Federal Credit Union members found that every dollar in their checking accounts had been stolen from right under their nose.
"I came in crying," victim Gemara Goodwin said.Like many credit union members, Gemara teaches in the Seminole County Public School District. She only realized the $800 in her account had been stolen when she logged in online. [Read story at WFTC.com].
CU TECH CONFERENCE HELD IN NEW ORLEANS
The CU InfoTech conference, now in its 11th year, was held in New Orleans. Aproximately 100 attendees from credit unions across the country were in attendance. Program highlights included Tom Glatt, Sr. on Technology Planning, Rick Sirois on Mobile Banking for Credit Unions, Bob Frank discussed Server Virtualization, Patrick Spencer on Member Business Lending, Bill Rogers discussing Biometric ID Solutions for Credit Unions Dana Turner on Technology and Security Issues and Quintin Sykes discussing Emerging Technology and Delivery.
This was the 14th annual credit union technology conference for credit unions and the only on-going conference totally devoted to technology issues.
This was the 14th annual credit union technology conference for credit unions and the only on-going conference totally devoted to technology issues.
Monday, November 24, 2008
Jack Henry Touts Mobile Banking Signings
A year after it was launched, Jack Henry & Associates said it now has 103 financial institutions using its mobile banking solution.
goDough was introduced in November 2007 and is supported by 34 mobile service carriers and is compatible with any Web-enabled mobile device, the company said.
Functionality includes transfers, transaction viewing and support of checking, CDs, money market, loan and lines-of-credit accounts, the company said, as well as alerts and payments.
The goDough service is integrated into two of Jack Henry’s core processing platforms for banks and the Symitar Episys platform for credit unions.
goDough was introduced in November 2007 and is supported by 34 mobile service carriers and is compatible with any Web-enabled mobile device, the company said.
Functionality includes transfers, transaction viewing and support of checking, CDs, money market, loan and lines-of-credit accounts, the company said, as well as alerts and payments.
The goDough service is integrated into two of Jack Henry’s core processing platforms for banks and the Symitar Episys platform for credit unions.
Wednesday, November 19, 2008
Study Shows Gender Differences in Risky Driving
If “men are from Mars and women are from Venus,” then the roads on which Martians tread are likely extremely treacherous. The findings of a new study conducted by Quality Planning, the ISO company that validates policyholder information for auto insurers, suggests a noticeable difference in the number and type of traffic violations received by men versus women.
Specifically, the data indicates that men possess a greater propensity toward certain risky driving behaviors, such as speeding, failure to yield and so forth.
Drawing upon traffic code violations data for a one-year period, from 2007 to 2008, the study examined male and female perspectives on the laws of the road. Quality Planning analyzed 12 months of 2007 policyholder information for U.S. drivers, comparing the number of moving and non-moving violations for both sexes. Overall, the data indicates that men are much more likely to receive a traffic citation than women, and that this difference in driving behavior is consistent across all age groups.
According to Quality Planning, when it comes to traffic laws, women are more observant of them than men, and that the laws violated more frequently by men are those laws designed to safeguard people and property. The study found that men are cited for reckless driving 3.41 times more than women. Reckless driving is considered one of the most serious traffic offenses by courts, as it implies a disregard for the rights and safety of persons or property.
“We were not surprised to see that men have slightly more — about +5 percent — violations that result in accidents than women,” said Dr. Raj Bhat, president of Quality Planning. “Men are more likely to violate laws for speeding, passing, and yielding. The resulting accidents caused by males therefore lead to more expensive claims than those caused by women.”
Interestingly, women drivers were also about 27 percent less likely than men to be found at fault when involved in an accident. Again, this underscores the finding that women are on average less aggressive and more law-abiding drivers, attributes that can also translate to fewer accidents.
Specifically, the data indicates that men possess a greater propensity toward certain risky driving behaviors, such as speeding, failure to yield and so forth.
Drawing upon traffic code violations data for a one-year period, from 2007 to 2008, the study examined male and female perspectives on the laws of the road. Quality Planning analyzed 12 months of 2007 policyholder information for U.S. drivers, comparing the number of moving and non-moving violations for both sexes. Overall, the data indicates that men are much more likely to receive a traffic citation than women, and that this difference in driving behavior is consistent across all age groups.
According to Quality Planning, when it comes to traffic laws, women are more observant of them than men, and that the laws violated more frequently by men are those laws designed to safeguard people and property. The study found that men are cited for reckless driving 3.41 times more than women. Reckless driving is considered one of the most serious traffic offenses by courts, as it implies a disregard for the rights and safety of persons or property.
“We were not surprised to see that men have slightly more — about +5 percent — violations that result in accidents than women,” said Dr. Raj Bhat, president of Quality Planning. “Men are more likely to violate laws for speeding, passing, and yielding. The resulting accidents caused by males therefore lead to more expensive claims than those caused by women.”
Interestingly, women drivers were also about 27 percent less likely than men to be found at fault when involved in an accident. Again, this underscores the finding that women are on average less aggressive and more law-abiding drivers, attributes that can also translate to fewer accidents.
Tuesday, November 18, 2008
Achieving Financial Goals
34 percent of credit union members,
39 percent of regional or local bank customers and
47 percent of national bank customers are less than
satisfied with how their bank helps them achieve
their financial goals.
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