The Proverbial Identity Theft Bus Will Run You Over!

The Proverbial Identity Theft Bus Will Run You Over!

Think about a time when you had a single credit card lost or stolen and how much of a pain that experience was. Now imagine if your entire wallet was lost or stolen and the exponential magnitude of pain in the patootie that would be for you.

Run over by the bus

If you are a subscriber to identity theft protection disservice providers, they are the custodians of a subscriber’s (this means you!) entire portfolio of financial account information, credit cards numbers, current and former address history, family names, social security number, power of attorney and everything else you care to chuck into their systems. To make matters worse, you can now add web site account user names and passwords.

What you now have is a cornucopia of identity theft and cyber criminal fun all in one place, neatly packaged up for hackers in one convenient location. Referring back to my wallet analogy, the database entrusted to these identity theft protection disservice providers is bigger than your wallet; it’s now your entire financial and personal history.

Not only are these providers reckless, they are incompetent from a cyber security and consumer protection perspective. Further proof that you are precariously about to be swinging in the wind is to only look as far as their advertisements and marketing campaigns. They seem to think that it makes great advertising to ridicule Russian hackers or other cyber criminals portrayed as troglodytes.

When you poke a stick into a hornets’ nest, eventually you are going to get stung. In doing so, these identity theft protection disservice providers risk the subscribers mother lode of personal identity data for the sake of theatrics. You may recall a rather stupid marketing stunt by a CEO with a bullhorn shouting his social security number out. He could not prevent his own identity from being stolen 12+ times and counting. How can they protect subscribers?

Now comes a bigger consumer problem that would add insult to injury. Have you ever looked at the policy acknowledgement for your financial institution? I’ll share some current language to Chase which states:

“We may at our option change the parameters for the password used to access the Online Service (“Password”) without prior notice to you, and if we do so, you will be required to change your password the next time you access the Online Service. To prevent unauthorized access to your accounts and to prevent unauthorized use of the Online Service, you agree to protect and keep confidential your Card number, account number, PIN, User ID, Password, or other means of accessing your accounts via the Online Service. The loss, theft, or unauthorized use of your Card numbers, account numbers, PINs, User IDs, and Passwords could cause you to lose some or all of the money in your accounts, plus any amount available under your overdraft protection credit line, or draws on your credit card account. It could also permit unauthorized persons to gain access to your sensitive personal and account information and to use that information for fraudulent purposes, including identity theft. If you disclose your Card numbers, account numbers, PINs, User IDs, and/or Passwords to any person(s) or entity, you assume all risks and losses associated with such disclosure. If you permit any other person(s) or entity, including any data aggregation service providers, to use the Online Service or to access or use your Card numbers, account numbers, PINs, User IDs, Passwords, or other means to access your accounts, you are responsible for any transactions and activities performed from your accounts and for any use of your personal and account information by such person(s) or entity. If you believe someone may attempt to use or has used the Online Service without your permission, or that any other unauthorized use or security breach has occurred, you agree to immediately notify us at 1-877-242-7372, (J.P. Morgan Online clients only, call 866-265-1727 or 302-634-5115 for international clients).”

Here is another from Wells Fargo which states the same:

“You are responsible for protecting your password and account information by not disclosing your personal account information to others (including your ATM PIN, online username, and password).”

I can’t help but see the proverbial bus that will run over consumers when an identity theft protection disservice provider is breached. Consumers will look to their banks for assistance and the banks will refuse to cover the damages. It’s not due to consumer negligence. It’s due to custodian negligence and deceptive business practices of these identity theft protection disservice providers.

Look before you leap!

Lazarus Alliance is Proactive Cyber Security®

Cyber War Waged on the United States with Massive Security Breach

Federal cyber security breach has left millions of American citizens as casualties. Lazarus Alliance responds with proactive cyber-crime prevention.

Lazarus Alliance ups the ante with proactive cyber security weapons in the corporate arsenal to fight cybercrime, corporate fraud, espionage and criminal cyber-misconduct.

The egregious revelations following this security breach is that the Office of Personnel Management did not have even entry-level cyber security controls in place as reported on June 4, 2015 by NBC affiliate KPNX 12 News and many other outlets is proof that it’s time for the U.S. to take strong action to harden its technological infrastructure with proactive measures instead of the reactive posture demonstrated today.

Lazarus Alliance Proactive Cyber Security Service and Product Portfolio prevents security breach

KPNX went on to report that “Fundamental controls missing that facilitated this massive security breach affecting millions across the federal space were identified as a lack of data encryption, multifactor authentication and modern endpoint computing platforms all of which are critical in preventing cyber breaches and criminal misconduct.”

Michael Peters, CEO of Lazarus Alliance said “Proactive cyber security measures taken through competent IT risk, audit & compliance and governance assessments coupled with proven assessment tools like the IT Audit Machine are all known to prevent about 96% of all breach potential.”

“As long as public and private organizations remain reactive instead of proactive in their approach to cyber security, they will continue to fail the constituents they work to protect. This federal cyber data breach is a painful reminder that not enough is being done even at minimal levels.” said Peters.

Cyber-crime prevention is of paramount concern to the federal government and organizations of all sizes, all industries and in all parts of the world. Lazarus Alliance put its extensive experience in cybercrime and fraud prevention in the governance, risk and compliance (GRC) spaces to work for the federal and global business community.

“Survey after survey shows that simple and intermediate controls prevent espionage and cyber-crime and yet breach reports are escalating. These criminal acts could have been prevented through a proactive cyber security plan. Lazarus Alliance is proactive cyber security.” continued Peters.

Lazarus Alliance’s primary purpose is to help organizations attain, maintain, and demonstrate compliance and information security excellence, in any jurisdiction. Lazarus Alliance specializes in IT security, risk, privacy, governance, cyberspace law and compliance leadership solutions and is fully dedicated to global success in these disciplines.

Learn more about Lazarus Alliance and why Lazarus Alliance is Proactive Cyber Security™

Video: https://youtu.be/8eRv4zc9l4M

Millions affected in federal cyber security breach

Source: KPNX

Millions affected in federal cyber security breach

As a cyber-security expert and CEO of Lazarus Alliance, Michael Peters’ job is to find gaps in his client’s security and close them off.

It looks as though Uncle Sam could have used his help. “This is extremely valuable reconnaissance information,” said Peters.

Chinese hackers are suspected in the massive data cyber security breach affecting four million former and current federal employees.

In Arizona alone, there are 88,000 workers.

Names, birth dates and social security numbers are all part of the compromised personal information. “Identity theft, that will be part of the package. That will get sold off in darknets,” Peters said.

The real goal many people believe is to use confidential information and clearances to get inside the government.

Senator Ron Wyden, an Intelligence Committee member had this to say, “I continue to feel it is very important that we ramp up our efforts to go after foreign hackers and foreign threats.”

Still, what stuck out to several politicians and cyber experts, including Peters, was the federal government’s lack of cyber protection.

“No encryption, no multi-factor authentication,” said Peters. When asked if he was shocked by the lack of security tools he said, “At this state absolutely.”

Peters says both are common tools used to add extra layers of authentication and security.

He believes had they been in place, the breach could have been protected altogether.

“These are fundamental, you cannot go without, so why we’re talking about this still in the federal space, that’s a real problem.”

Several federal employees told 12 News, while they’re concerned about their information, they’re waiting to hear more from the government.

They all plan to keep an eye on their accounts and credit reports.

Video: https://youtu.be/8eRv4zc9l4M