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“Oh the humanity!”- Financial Institution Breached 3 Times in 2 Weeks! April 4, 2012

Posted by Chris Mark in Data Breach, Industry News, Uncategorized.
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STOP THE PRESSES!  According to the Patriot Ledger, a financial institution’s security was breached 3 times in 2 weeks and assets were stolen.  The media, however, has been quiet on the story.  I have not heard a single Gartner or other analyst publicly eviscerate the financial institution for their poor security practices nor has Information Week, CNN, or any other major media outlet opined on the breaches. Why?

The financial institution was a actually a bank branch and the breaches were not data thefts rather they were good old fashioned bank robberies.  In 1968, in response to increasingly violent and frequent bank robberies, the US Government passed the Code of Federal Regulations Title 12 part 208.61- Bank Security Procedures.  The purpose of the Act is as follows: (more…)

More Security Theater – “CyberCops and Robbers” March 15, 2012

Posted by Chris Mark in Industry News, Risk & Risk Management, Uncategorized.
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Today in my Google alerts, I had a story from FoxNews (…ahemm) titled “CyberCops and Robbers; Digital Posses to Bust Bank Robbers”  After reading the article, I had to write a post and discuss (rant?) about the fluff that is being proposed.  The article talks about a new initiative by the FBI and select banks where banks that comply with certain rules and agree to be involved in the program get to post a “badge” on their door like the one in this post.

There are so many flaws and issues with this approach, I don’t know where to start.  This is Security Theater at its finest.  For those who are unfamiliar with the term, Bruce Schneier, in his book Beyond Fear, coined the phrase security theater.  Security theater describes security countermeasures intended to provide the feeling of improved security while doing little or nothing to actually improve security. (more…)

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