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Article: In Assessing Risk, Don't Ignore Spyware Threat.(Industry Overview)
- Article from:
- American Banker
- Article date:
- February 7, 2006
- Author:
CopyrightCOPYRIGHT 2006 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The financial services industry is under assault from spyware. In a single recent month criminals using spyware-based scams targeted more than 50 major banks, including Citibank and Deutsche Bank, to perpetrate identity theft and obtain sensitive information such as passwords.
Last summer, in Financial Institution Letter 66-2005, "Guidance on Mitigating Risks From Spyware," the Federal Deposit Insurance Corp. put banks on notice that threats to their computer security have reached a new level of complexity. The potential for damage from spyware goes beyond the longstanding hazard of data theft at the repository level.
Spyware is software that collects ...