Guide to the TechWeb Network






 




Cybercrime Enforcement Needs More Teeth
By Maria Bruno-Britz
Aug 3, 2007 at 02:23 PM ET

By Maria Bruno-Britz, Bank Systems & Technology

Some people just don’t give up. Everyone knows just how dangerous things are these days in terms of cybercrime. If you’re a bank, you’re target numero uno for determined hackers.

For instance, security services provider SecureWorks reported that hacker attacks on its bank clients rose a whopping 81 percent from last year. If you’re a credit union, you’re only slightly safer. SecureWorks said these clients faced a 62 percent rise in hacks in 2007. In terms of raw numbers, the average number of hackers launching attacks at each of the company’s bank clients is 1,462 up from 808 last year. For credit unions, the firm now blocks 1,799 hackers per credit union per month, compared with 1,110 in 2006. On second thought, maybe the credit unions don't have it so good. SecureWorks has 733 bank clients.

Granted, these are figures from only one source, but on a macro level, they show the dogged determination of criminals today. It’s almost quaint to think of the days when a bank heist consisted of a bunch of guys dressed in black dynamiting a safe open. We still hear about these attempts once in a while. But like everything else these days, the world of bank robberies has become far more convenient—thanks to the Internet. Perps can make millions from the comfort of their own desks. Plus, they stand less of a chance of being caught (never mind being prosecuted) since many of these attacks come from overseas.

If only law enforcement officials had the tenacity of these cybercriminals to make cybercrime an offense with real consequences. Perhaps I shouldn’t say that since the authorities can only work with what they have. The directive for tougher cybercrime laws needs to come from the government level and they need to be agreed upon internationally. For too long, cases involving hacking and the like end up with the criminal receiving a virtual slap on the wrist. And that’s if they can track the person down to begin with! Some of these people are funded not only by organized crime, but by hostile governments with deep pockets and a vested interested in allowing chaos to invade our financial system. It might start with individual bank hit here, another there. The numbers add up though. If tougher laws aren’t enacted on a global basis, we’ll only see the numbers increase and as the number of hacking attempts increase, so too do those hacks that are actually successful.



Topics: What We're Reading
»  Weblog Main   |   »  View Entries By Topic   |   »  View Entries By Date



COMMENTS




This is a public forum. CMP Media and its affiliates are not responsible for and do not control what is posted herein. CMP Media makes no warranties or guarantees concerning any advice dispensed by its staff members or readers.

Community standards in the message center do not permit hate language, excessive profanity, or other patently offensive language. Please be aware that all information posted to this forum becomes the property of CMP Media LLC and may be edited and republished in print or electronic format as outlined in CMP Media's Terms of Service.

Important Note: The Message Center is NOT intended for commercial messages or solicitations of business.











WHITEPAPERS
Opening Act - Streamlining a bank’s account-opening process can have a dramatic effect on customer experience and the bottom line
This can help banks grow revenue; improve margins by reducing cost; optimize capital by opening the way to outsourcing; and better manage risk by driving regulatory compliance and greater financial predictability.

Essentials of CRM for Commercial Banking
Learn how commercial banks can use CRM strategies and technology to maximize client value, become trusted advisors, and streamline operations, contributing to top-line and bottom-line revenues and gaining strategic insight.











techweb
Online Communities TechWebInformationWeekLight ReadingIntelligent EnterprisebMightyNetwork ComputingDark ReadingDigital LibraryWall Street & Technology
Byte & SwitchNo JitterInternet EvolutionLight Reading's Cable Digital NewsContentinopleUnStrungBank Systems & TechnologyAdvanced TradingInsurance & Technology
Face-to-Face Events
InteropWeb 2.0 ExpoWeb 2.0 SummitVoiceConBlack HatCSISoftwareEntrprise 2.0 ConferenceGTEC
Mobile Business Expo
InformationWeek 500 ConferenceBuy Side Trading XchangeBuy Side Trading SummitBank Executive SummitInsurance Executive SummitTelcoTVEthernet ExpoOptical Expo
Magazines  
InformationWeekWall Street & TechnologyInsurance & TechnologyBank Systems & TechnologyAdvanced TradingMSDNTechNetSmart EnterpriseThe Architecture JournalDatabase Magazine
 
Research & Analyst Services  
Heavy ReadingInformationWeek ReportsInformationWeek Analytics
 
   
   
Ed Cals  |  Contact Us  |  Reprints  |  Ad Info  |  Media Kit  |  Send Us Your Feedback  |  RSS