7 out of 10 Popular Web Applications are Dangerous
A new study has found that the Web application security landscape is still fraught with danger - and financial services firms had better watch out.
At least seven out of popular 10 Web applications have vulnerabilities that could potentially lead an unauthorized party to steal critical personal information such as social security numbers or transfer money to their accounts, according to a report by Santa Clara, Calif-based Cenzic .
Gaming The System: Online Fraudsters Use ACH Efficiency for Illegal Benefits
What'll the cyber crooks think of next? Well, this isn't a new idea and it certainly isn't the type of flashy heist you will see in this summer's sequel Ocean's 13 with George Clooney, Matt Damon and crew. But hundreds of account holders have lost funds after a most likely phony firm named Equity First generated random routing and account numbers and tried to deposit one cent. If the one-cent deposit clears, the fraud
Signs That A Hedge Fund May Be Trouble
If your firm is a counterparty to a hedge fund, invests in or partially owns a hedge fund or places clients' money in a hedge fund, it may be somewhat accountable if the fund commits fraud, losses money or goes bankrupt. Of course, not all hedge funds are run by crooks or mismanaged, but hedge funds do have an 8.5% failure rate, and that rate is growing. In 2005, hedge funds lost $1 billion, in other words one dollar out of every thousand.