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(Bit9)   Data breaches now estimated to cost everyone a kagillion billion trillion zillion infinity dollars   (blog.bit9.com ) divider line
    More: Obvious, data breach, National University of Singapore, dollars  
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1947 clicks; posted to Main » on 19 Mar 2014 at 2:37 PM (2 years ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2014-03-19 02:25:32 PM  
2 votes:
Maybe we could, you know, have some goddamn data privacy laws which require proper encryption and security standards.

Also increase prison time for identity theft and banking fraud, and generally improve the system for catching identity thieves.

Oh and could we finally get away from our outdated credit card system? Magnetic strips, guys? Really?
2014-03-19 04:00:26 PM  
1 vote:

ladyfortuna: My old boss in retail told a story about someone who had an eel skin wallet, and it turned out that it erased all the data on their credit cards somehow. Never did figure out if he was bullshiatting, but I thought it sounded semi plausible, like if it was a handmade wallet they picked up on vacation or something so they didn't know the exact source...


Probably true, but it was the magnetic clasp on the wallet which erased the cards rather than the eel skin itself.
2014-03-19 03:45:15 PM  
1 vote:

manbart: Sounds good, but it probably wouldn't have too much effect. Most hackers are not based in the united states, and they are notoriously hard to catch wherever they are; the reality is the technological advantage is on their side, it is easy for them to remain hidden while carrying out attacks.


This is true, the data hackers themselves are often outside the US (someone said it best, this is a great excuse to simply firewall Russian and eastern European IPs - not that this works). But most US-based companies worth their salt will detect any fraudulent activities coming from those countries and those transactions will never happen.

But what I've noticed happens is the hackers end up selling your data to some low level criminal who does live in the US. And those transactions are easily traceable. Almost every single time someone has hit me with ID theft they've ended up purchasing something on a website like QVC. Finding that low level person person should be fairly easy to figure out by reverse engineering the purchase.

There are problems within the states however with actually finding and capturing the low level criminal within the US, things like transport, interstate policing, etc. This is mostly what I'm talking about. It would be nice if we had effective internet security so these breaches didn't happen constantly.
2014-03-19 02:49:19 PM  
1 vote:
People often fail to see the positives of crime. Criminals can't very well horde the money in IRA's and other legitimate assets. They have to spend the money which means it goes back into the economy.

Criminals are the lifeblood of society.
2014-03-19 02:49:09 PM  
1 vote:

bdub77: Maybe we could, you know, have some goddamn data privacy laws which require proper encryption and security standards.

Also increase prison time for identity theft and banking fraud, and generally improve the system for catching identity thieves.

Oh and could we finally get away from our outdated credit card system? Magnetic strips, guys? Really?


Better yet, ban collection of data useful to identity theft outside of a few narrowly-defined exceptions.  It's creepy when stores know you better than you know yourself.
2014-03-19 02:43:43 PM  
1 vote:

bdub77: Maybe we could, you know, have some goddamn data privacy laws which require proper encryption and security standards.

Also increase prison time for identity theft and banking fraud, and generally improve the system for catching identity thieves.

Oh and could we finally get away from our outdated credit card system? Magnetic strips, guys? Really?


This. I do get some schadenfreude from seeing banks like Chase having to take a big hit on these data breaches (even if there are no losses, the extra rep time on the phone and the card replacements are a big cost), when it is their own damn fault for not getting chip and pin rolling in the US. They tried to do it cheap to make the shareholders happy short term, and it bit them on the ass in a big way.
 
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