Today, Digital Citizens Alliance published a report that focuses on how exposed Universities and Colleges’ populations are on the dark web. Specifically, they looked at the levels of compromised credentials associated with .edu’s on the dark web. ID agent provided data to support the report.
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Stolen email credentials are an often exploited vulnerability for government and corporate networks. In fact, Verizon announced in a recent study that 91% of phishing attacks specifically targeted email credentials.
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On December 30th, 2015, the IRS officially announced that employers are not required to include the value of pre-breach identity protection services in employee gross income. This adds to a previous announcement where the IRS stated in August 2015,with announcement 2015-22, that post-breach identity protection benefits would have preferential tax treatment.
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Last weekend, more than 9,300 Department of Homeland Security (DHS) employees’ personal information was leaked online, all stemming from an apparent data breach to the DHS networks. Not only were those identities exposed, but the Twitter user that publicized the information immediately followed suit by exposing an additional 22,000 Federal Bureau of Investigation (FBI) employees’ information.
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Since 2003, the FBI has tracked more than $740 million dollars lost to business email compromise (BEC) fraud in the United States. Who’s the main target? None other than the C-Suite. Led by organized online criminal groups, BEC is one of the fastest growing types of financial fraud.
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The internet has changed the way businesses operate around the world. Having access to a tool of this caliber is essential to the way corporations function today, but it also has its downfalls. In this case, we’re referring to the incredibly dangerous threat most business owners are either unaware of or hardly ever think about – cybercrimes like Business Email Compromises (BEC).
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Cyber risk is no longer a potential threat to put on the back burner for later review. The reality is that cyber risk is a threat right now. Many organizations are taking precautions to protect themselves and their people. However, despite the plethora of major companies and brands experiencing the repercussions of not instilling pre-breach precautions, the question remains: is it necessary to encrypt employee information?
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Protecting sensitive customer data on your networks isn’t just the right thing to do – it may now be a legally sanctioned practice. Recently the Federal Trade Commission (FTC) was granted broad authority to penalize companies that had inadequate cybersecurity practices in place to protect their customers’ information from data breaches.
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The IRS recently issued an alert, warning Human Resources or Payroll professionals to be on the lookout for an email scheme designed to steal employee data from W-2 forms. The scam has already claimed some high profile victims, such as Snapchat, and is especially threatening as employees are in the midst of tax season.
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Identity theft continues to grow at an alarming rate. Statistics show that 3% of the U.S. population experienced credit card fraud at least once in 2014. Not to mention that, “an estimated 17.6 million persons were victims of one or more incidents of identity theft,” in the same year, as reported by theU.S. Department of Justice. This is up by a significant amount from the 16.6 million cases of identity theft in 2012.
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