The Most Glaring Security Breaches

By abhishek at 10 August, 2008, 2:30 pm

Transformation is the rule of this physical world we live in. Most of these transformations are guided by intent to improve the physical lifestyle of human beings. In the past century that transformation has occurred in the form of a ubiquitous word of our times �technology�.

The word �technology� is not a term full of esoteric allusions anymore. Recently worldwide technology has been pivotal in driving businesses. The massive IT conglomerates are a result of highly intertwined age of business and technology. Technology has solved a lot of answers to various problems of the businesses. One glaring example is the speed of transfer of funds from one account to another because of the interconnectivity. Funds are getting transferred at the rate of velocity of light. But as the Masters have said, �In this physical world no action is without a dual effect of positive and negative.� So we have pirates, rogues and bank robbers transformed into �hackers�. These hackers breach into the security systems to create havoc with funds and other classified information.

In 2007 there were a few significant breaches that various industries are grappling with and India being no exception to it. Let us begin at home and one of the largest banks in India, Bank of India�s website being hacked. In August 2007 a rogue code was embedded in the site�s HTML. This malicious code silently redirected users to a hacker server, which pushed 22 different pieces of malware onto the vulnerable pieces. The website hacking can be a serious damage to the reputation of the bank as once the news is out then credibility of the bank receives a severe blow. It is rightly said that no breach is worth its cost in damages and, reparations.

Security Breaches can also come in various types and kinds. So from internet hacking to data breaches. Massachusetts based retailer TJX revealed that more than 46 million credit and debit card accounts were hacked in a data breach, possibly going as far back as 2003. Industry analysts predict the price tag of the breach could go as high as &1 billion when all settlements are paid.

Now, that alarm bells of insecurity of your personal accounts with the banks and other financial organisations are ringing in your ears, its fun time. TD Ameritrade Holding Company, a brokerage company declared that someone had broken into the systems and stolen contact information of its 6.2 million retail and institutional customers. However, Social Security numbers and account numbers (translate that into amount of money) were left untouched. And all this brilliance was undertaken to send stock related spams. Well some job accomplished by our experiential hacker!!!!

It seems the Joker is having all the fun in this game and the Batman needs to do some gearing up to save Gotham of financial institutions from further chaos. Gotham (financial institutions) needs a Hero!

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Categories : Technology