Adobe Hackers abduct credit card details of 3 million customers
The discovery of a system invasion reveals the theft of credit card data and source codes.
According to Brad Arkin, chief security officer at Adobe, customer identifications and encrypted passwords were stolen by hackers through “sophisticated attacks”.
He indicated that the incident is being dealt with by law enforcement and other security partners, that card numbers remain encrypted and that customers are being notified, and said that Adobe: “deeply regret[s] that this incident occurred.”
This is every e-commerce merchant’s nightmare but a risk nevertheless, given the ever increasing complexity of hacking tools and techniques but according to the 5th Annual LexisNexis True Cost of Fraud(SM) study, published last month, E-merchants who do not want to invest in fraud prevention have a 0.74% fraud rate compared to those who spend money on fraud prevention and have a rate of 0.39%.
While we cannot make assumptions about the level of security maintained by Adobe, this is an important reminder to all merchants that the need for PCI Compliance Compliance In finance, banking, investing, and insurance compliance refers to following the rules or orders set down by the government regulatory authority, either as providing a service or processing a transaction. Compliance concerning finance would also be a state of being following established guidelines or specifications. This designation can also encompass efforts to ensure that organizations are abiding by both industry regulations and government legislation. Understanding ComplianceCompliance is a In finance, banking, investing, and insurance compliance refers to following the rules or orders set down by the government regulatory authority, either as providing a service or processing a transaction. Compliance concerning finance would also be a state of being following established guidelines or specifications. This designation can also encompass efforts to ensure that organizations are abiding by both industry regulations and government legislation. Understanding ComplianceCompliance is a is vital and that the consequences of security compromise can be dire.
Image courtesy of Flickr
The discovery of a system invasion reveals the theft of credit card data and source codes.
According to Brad Arkin, chief security officer at Adobe, customer identifications and encrypted passwords were stolen by hackers through “sophisticated attacks”.
He indicated that the incident is being dealt with by law enforcement and other security partners, that card numbers remain encrypted and that customers are being notified, and said that Adobe: “deeply regret[s] that this incident occurred.”
This is every e-commerce merchant’s nightmare but a risk nevertheless, given the ever increasing complexity of hacking tools and techniques but according to the 5th Annual LexisNexis True Cost of Fraud(SM) study, published last month, E-merchants who do not want to invest in fraud prevention have a 0.74% fraud rate compared to those who spend money on fraud prevention and have a rate of 0.39%.
While we cannot make assumptions about the level of security maintained by Adobe, this is an important reminder to all merchants that the need for PCI Compliance Compliance In finance, banking, investing, and insurance compliance refers to following the rules or orders set down by the government regulatory authority, either as providing a service or processing a transaction. Compliance concerning finance would also be a state of being following established guidelines or specifications. This designation can also encompass efforts to ensure that organizations are abiding by both industry regulations and government legislation. Understanding ComplianceCompliance is a In finance, banking, investing, and insurance compliance refers to following the rules or orders set down by the government regulatory authority, either as providing a service or processing a transaction. Compliance concerning finance would also be a state of being following established guidelines or specifications. This designation can also encompass efforts to ensure that organizations are abiding by both industry regulations and government legislation. Understanding ComplianceCompliance is a is vital and that the consequences of security compromise can be dire.
Image courtesy of Flickr