An attorney, mortgage broker, loan processor and loan originator have been indicted for the roles they allegedly played in a fraud scheme involving at least 35 mortgage loans worth more than $16.2 million.
A former PNC Bank manager has pleaded guilty to bank theft - a charge that could lead to 10 years in prison and a $250,000 fine. What common security flaws allow such insider schemes to flourish?
"You need to educate people, and you need to have the right control procedures in place to ensure that people are aware of insider fraud," says Larry Ponemon, offering tips to reduce insider risks.
In an interview about the insider threat, Ponemon discusses:
Key findings from this new research;
What needs to be...
Do banks and credit unions use all the data they collect? One credit reporting bureau says they could be doing more with their data to track and prevent fraud.
Many organizations realize they are at risk of insider attacks. But do they have evidence and capabilities to respond to these risks? That's the real challenge, says researcher Larry Ponemon.
In Georgia, a man has pleaded guilty for his role in a $1.3 million phishing scheme. How did Bank of America and Chase help law enforcement agencies crack this alleged international fraud ring?
The latest spin on the insider threat: malicious outsiders taking advantage of inadvertent insiders, says Dawn Cappelli of Carnegie Mellon University. Learn how to detect and prevent these attacks.
Symantec says Internet vulnerabilities are down, but don't get too comfortable. We can expect more attacks in 2012. Why are the same threats still posing so much concern?
Most bankers doubt that big technology investments will reduce fraud, according to the 2012 Faces of Fraud survey. Why don't they believe technology is the answer?
The Paul Allen card breach reiterates a concern financial fraud experts have been screaming about for years: Socially-engineered schemes that compromise employees. So, what can institutions do about them?
Increasingly, social engineers target unwitting insiders to plunder organizations' financial and intellectual assets. How can you prevent these and traditional inside attacks? CMU's Dawn Cappelli offers tips.
The Defense Department will employ a two-prong approach - securing the perimeter as well as the data - as it develops its cloud-computing architecture. "We're going to be able to better protect as we get more standardized," CIO Teresa Takai says.
The failure to implement proper security controls exposes Internal Revenue Services financial and tax-processing systems to potential insider threat, putting taxpayer information at risk, a Government Accountability Office audit says.
NIST's latest guidance adds controls that reflect the rapidly changing computing environment, but the fundamentals of implementing controls haven't changed, Senior Fellow Ross says in a video interview.
Organizations are urged to adopt six principles to avoid the perils of transferring IT decision making away from technology specialists to business unit leaders.
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