Investor Presentaiton
6
What if ...
... one of our financial institutions was hacked and customer personal identifiable
information and financial information were obtained like it was reported in the US on 14
January 2011 that the records (names, addresses, Social Security numbers, account
numbers, account registration, transaction details, account balances, and in some cases,
dates of birth and email addresses) of about 1,200,000 people were exposed to the
web?
•
Source: Bank Information Security Articles, 2010 Data Breach Timeline, 28 December 2010
...our economy faces some negative impact of a 'cashless society' like the cyber
experience of the UK? According to a report commissioned by the Cabinet Office into the
integrity of computer systems and threats of industrial espionage: Cyber crime costs the
UK more than £27bn a year. That's more than Nigeria's 2012 budget!
.
Source: Guardian Newspaper Article citing the UK security minister, Baroness Pauline Neville-Jones
with the increase in use of POS, we experience a similar thing that happened in the
US in December 2011, where Four Romanians were charged for POS Fraud?; the
fraudsters remotely hacked point-of-sale and checkout systems at more than 200
merchants to steal card data of about 80,000 Cardholders. The compromised card data
is believed to be linked to millions of dollars in unauthorized transactions.
•
Source: http://www.bankinfosecurity.com/four-romanians-charged-for-pos-fraud-a-4316View entire presentation