Table of Content
- NEW: Home Depot breach cost credit unions nearly $60M
- Uber Confirms Data Breach
- US government charges social media influencers with securities fraud
- Anthem Data Breach Exposed 78 Million Records
- Verizon Communications Inc. Suffers Data Breach That Affects Hundreds
- How to Protect Yourself Against a Pharming Attack
Meta is now being sued for allegedly sending sensitive medical information to Facebook, along with two of the involved hospitals. Brute force attacks on computer systems are an effective means of entry for ransomware theft. The brute force uses high amounts of computing cycles to scan through every possible password combination to find the right one.
CUNA Chief Economist Bill Hampel, who conducted the survey, said the results show that more than four in every five (80.1%) of credit unions affected by the breach have reissued or will reissue all affected cards. Nearly one in five (18.5%) will reissue or have selectively reissued cards in response to member requests or other factors. This is because more credit union cards were affected by the Home Depot breach, and the cost per affected card was considerably higher in the case of the Home Depot breach. To date, credit unions have not been reimbursed for the costs they incurred as a result of the target breach. 36.6% of credit unions report having to increase staffing (additional overtime, shifts, etc.) as a result of the Home Depot data breach.
NEW: Home Depot breach cost credit unions nearly $60M
The hackers then acquired elevated rights that allowed them to navigate portions of Home Depot's network and to deploy unique, custom-built malware on its self-checkout systems in the U.S. and Canada. Your Wi-Fi network is another handy access point that hackers use to infiltrate your computers, steal your identity, and grab your personal details. DiversiTech Corporation, a provider of heating and cooling products, recently reported a data privacy event that compromised the personal information of its customers. Everything from international car companies to file storing databases like Dropbox are affected. For most people, the internet is a poorly guarded vault holding all their personal data.
"The cost to credit unions of data breaches--which seem to be occurring with increasing regularity--is rising, as the CUNA surveys clearly demonstrate," said CUNA President/CEO Jim Nussle. "The bottom line is that credit union members end up paying the costs--despite the fact that the credit unions they own had nothing to do with causing the breach in the first place." Cybercriminals can break into any system; this was proven by the Home Depot data breach of 2014. More than 50 million people were affected by the Home Depot data hack during which a hacker used malware to infect self-pay kiosks and steal names, email addresses, credit card numbers, security codes and expiration dates. Investigators believe that a variant of the same malware used to infiltrate Target was used to steal millions of credit cards from Home Depot.
Uber Confirms Data Breach
Their letter included information on what to do if the hackers used your information to steal money. Banks announced a spike in ATM withdrawals after the breach, even though Home Depot claimed debit card PINs were not taken. The best way to check to see if your data was breached is to review your bank and credit card statements from April 2014 and beyond. You should also get a copy of your credit report and look for accounts that you did not open. Credit unions responding to the survey have issued a total of 20.1 million cards outstanding (14.9 million debit cards and 5.2 million credit cards).
Projecting to the population, we estimate that 6.0 million credit union debit cards were affected. Nearly twice as much as the Target breach – affected more credit union debit and credit cards and the cost per affected card was considerably higher in the case of the Home Depot breach. In a letter to CUNA and the National Association of Federal Credit Unions sent later Thursday, leaders of the top retail industry groups said that retailers do have to shoulder some of the costs from data breaches.
US government charges social media influencers with securities fraud
Based on the survey's results, on average, the cost to reissue a card by a credit union was approximately $8, which includes costs for reissuing, as well as fraud and other costs such as additional staffing, member notification and account monitoring. The fallout from the Home Depot data breach is starting to be felt by financial institutions. Credit unions have spent nearly $60 million to reissue cards, deal with fraud and cover other costs as a result of the breach, according to the Credit Union National Association. The company has implemented enhanced encryption of payment data in all U.S. stores. The new security protection locks down payment card data, taking raw payment card information and scrambling it to make it unreadable and virtually useless to hackers.
Covering topics in risk management, compliance, fraud, and information security. Home Depot, in a Sept. 18 statement, said that to evade detection, the criminals involved in the cyber-attack against it used custom-built malware, which has not been used in other attacks. The malware, which was present on Home Depot's payment systems between April and September, has since been eliminated from its U.S. and Canadian networks, the retailer says. Keep up with the latest cybersecurity threats, newly-discovered vulnerabilities, data breach information, and emerging trends.
Anthem Data Breach Exposed 78 Million Records
The breach has limited information available, which strikes many as odd; the investigation had been going on for months before CWGS sent the notifications. Many businesses offer free identity theft monitoring services after a breach, and you should take advantage of it if they do. While encryption is helpful, financial institutions argue that a unified security standard is needed if the nation is going to successfully tackle data security. Legislation to do that, the Data Security Act of 2015, has been introduced in both houses of Congress but has not gotten much traction. In addition, Linda Gooden, a former Lockheed Martin executive vice president with an extensive background in information technology, cybersecurity, operations and finance, was named to the company’s board Oct. 5.
Financial literacy is the combination of knowledge and skills that people need to make well-informed financial decisions. These decisions range from budgeting for a vacation to crafting a long-term retirement plan. They are known for their winter clothing and outerwear that protects people from some of the coldest weather on the planet.
A recent eSecurity Planet article offered advice on how to respond to a data breach. Home Depot is also required to appoint a Chief Information Security Officer responsible for oversight of Home Depot’s implementation and maintenance of the information security program prescribed by the Settlement. We're on a mission to empower consumers to make the best decisions and connect confidently with companies that deserve their business. Sign up below to receive a monthly newsletter containing relevant news, resources and expert tips on Identity Theft and other products and services. From heightened risks to increased regulations, senior leaders at all levels are pressured to improve their organizations' risk management capabilities.
100% of a company's ranking on BestCompany.com is determined by the reviews of its consumers. The Home Depot's investigation, cooperation with law enforcement and efforts to further enhance its security measures are ongoing. The company does not anticipate further updates on the breach outside of its quarterly financial disclosures. At Home Depot, where hackers used malware to collect customer data at cash registers, it reportedly took nine months for the breach to be identified and stopped allowing for the damage to affect millions of customers. To say it is concerning that more than 2,000 data breaches occurred in the first half of 2022 alone would be a dramatic understatement. CWGS Group, the holding company that owns Camping World and Good Sam Club, announced a data breach on November 7, 2022.
“The bottom line is that credit union members end up paying the costs – despite the fact that the credit unions they own had nothing to do with causing the breach in the first place,” said CUNA President and CEO Jim Nussle. The company is rolling out EMV chip-and-PIN technology, which adds extra layers of payment card protection for customers. Launched as a project for U.S. stores in January 2013, the project will be completed ahead of the payment industry's deadline. Central Florida Inpatient Medicine is on record, acknowledging a data security breach. The criminal invasion of the company's internal systems is the latest in a never-ending flurry of web-based attacks.
Throughout 2022, we've seen a massive uptick in insurance providers, schools, and hospitals becoming victims of data breaches. — Equifax, Experian and TransUnionPlace — and place a fraud alert or credit freeze on your card. Fraud alerts protect against new account fraud by requiring any credit grantor to take extra steps to verify your identity. A credit freeze prevents credit grantors from accessing your credit report altogether, so they would need to be lifted if you need to access credit for a major purchase down the road. Like other retailers it has also rolled out updated card readers to handle the new “chip-enabled” credit cards that are said to be more secure. A little more than a year after some 56 million customer credit card numbers were exposed to hackers in one of the nation’s largest security breaches, Home Depot’s reputation and bottom line have survived relatively unscathed.
Home Depot said there's no evidence that debit PINs were compromised in the breach. Stores in Mexico, and customers who shopped online in the U.S. or Canada, were not affected the breach. TIME may receive compensation for some links to products and services on this website. Sometime between November 5th, 2021, and April 5th, 2022, U-Haul International was hacked, leaking the information of millions of users to some unknown entity.
Experts say Home Depot is likely to settle out-of-court to both avoid the millions in costs it will take to fight the litigation and the public relations damage it could suffer if either case went to trial. ESecurity Planet is a leading resource for IT professionals at large enterprises who are actively researching cybersecurity vendors and latest trends. ESecurity Planet focuses on providing instruction for how to approach common security challenges, as well as informational deep-dives about advanced cybersecurity topics. Having worked for multiple publications at The College of New Jersey, including the College's newspaper "The Signal" and alumni magazine, Roman has experience in journalism, copy editing and communications. Forward-looking statements speak only as of the date they are made, and we do not undertake to update these statements other than as required by law.
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