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tcmahony
at February 25,2016
Its surprising that the public does not hear more about these types of breaches that happen to retailers. I feel that there should be a law stating that if a breach occurs and it involves financial data that it should be disclosed to the public. While I understand companies don't want their reputation tarnished because they got hacked, that should just reinforce that they need to take information security seriously. I also think that it these types of breaches were more public that the general population would be smarter in terms of securing themselves and others around them. Almost on the same line of thinking of if it can happen to them why can't it happen to me.
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BrianDaugette
at March 04,2016
Very interesting video. According to this video, not many people know about massive cybercrime cases like this, but I'm not sure that holds true anymore. There have been several high profile hacks targeting credit card info (such as the Target hack), and credit card users and companies are certainly much more aware about that kind of crime than I think they were when this video was made.
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nick
at March 08,2016
This video, release in mid-2013, doesn't reflect the increasing coordination between the financial industry and the increased budgets of the world's largest financial organizations. For instance, in a WSJ article, http://www.wsj.com/articles/j-p-morgan-to-accelerate-timeline-for-cybersecurity-spending-boost-1438641746, JPMC has an IT security budget of $500 million dollars, not an insubstantial sum. Additionally, the continued roll out chip and pin technology will assist in securing customers card data. Furthermore, as PFI reporting requirements become subject to continued regulations and breaches are identified more quickly due to active fraud analysis, financial crimes such as the TJX breach and Heartland Payment fiasco will likely be identified sooner and the payouts will continue to decline in scope over the long run.
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danielm8
at March 08,2016
The public knows about some of the attacks that happen on retail corporations such as the Target breach, but might not be as concerned about it because it does not affect their lives too much. If their credit card information is stolen is used, all the holder needs to do is report as fraud. They will not get charged, just a new credit card number and a new credit card. There are new security measure being put in place such as new credit cards that have the chip as well as swipe to help protect customers.
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fpazdzin
at March 10,2016
It makes sense that the financial institutions and retailers would keep something like this quiet. It would greatly hurt their business if people knew that millions of credit card numbers were stolen from them. People don’t realize how much trust we put into these companies that handle our financial information. They all assume that everything is safe and remain ignorant to how vulnerable their information really is. Though, I guess it’s better that way. Otherwise people would just stop spending their money and cause our economy to go down the toilet.
