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Citigroup has admitted that $2.7 million has been stolen from 3,400 consumers after hackers compromised credit card information belonging to over 360,000 accounts. Their only mistake, according to The Huffington Post, was entrusting the bank with their data. The article here says “by no fault of their own, consumers that entrust companies with their personal information — something that has essentially become mandatory in a day and age where every click, swipe, note, and check can be immediately and cheaply stored on servers — are being put at risk for theft and fraud because corporations can’t defend themselves against hackers aiming to pilfer vast troves of data consisting of names, email addresses, credit card numbers, and more.”
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emailWould You Purchase a ‘Cyber Risk’ Insurance Policy?
Posted on Thursday, June 23rd, 2011 by Elaine Rigoli
Do you know whether your current business insurance policy — or that of your boss – covers you if you pass along a virus or other type of malware, even unknowingly? What if you are accused of libeling another company in a blog, email, or on a social media network? That’s one of the reasons insurance companies have gotten into the game. Read More
Citigroup Data Breach: Six Tips to Protect Yourself
Posted on Monday, June 13th, 2011
This ABC News article offers six fantastic tips to protect consumers in the wake of Citibank’s recent data security breach, which has exposed information on about 210,000 bankcard customers. Citi’s incident, one of the first known hacking cases at a bank, compromised data including credit card account numbers, names, and email addresses. Although no Social Security numbers, dates of birth, or card security codes were compromised, the real worry is that thieves could obtain more information by phishing or spear phishing victims. While all six tips are important, perhaps the most critical is #4: “When logging in to perform online transactions, always enter the website address directly in your browser. Never click links that claim to take you to banking sites.” Read More