Share it !
Each day seems to bring new threats to a business' computer systems. Businesses with websites that handle credit card data are favorite targets of hackers or disgruntled employees. Protecting customer credit card information is critical to earning trust and maintaining revenue. In the case of a security breach, customers must be notified, and that cost is high, not only in dollars, but also in company reputation. In addition, companies may need to comply with standards established by the payment card company for which they process transactions. Computer security testing services can help companies build, deliver and maintain applications and databases that resist hacking, reduce the risk of exposing credit card data and demonstrate compliance with standards.
To build more secure applications, developers should be aware of the various types of threats and attacks, and whenever possible, add defenses to their systems. Testing during the development phase can help identify possible areas of exposure so they can be addressed early on. It is also less expensive to build application security from the start, rather than needing to rework an application when it is almost completed.
One of the standard tools used in computer security testing is called penetration testing. Penetration testing tools emulate the system attack methods a hacker might use. The testing tools automate some of these processes, resulting in faster and more effective tests. Because this testing can disable a system, it should be conducted with care when targeting production systems. Effective testing can also be done on a development environment that accurately the production systems.
Even when these tools are used, there could still be value in conducting a source code review. Through the review process, security issues can be identified across the entire code base and mitigated more quickly as specific faulty lines of code are identified. Because of the size and complexity of most applications, code reviews also use automated tools to identify common vulnerabilities.
Databases, those all-important storehouses of information, such as customer names and credit card numbers, should also undergo security testing. Databases can be configured to take advantage of various information security layers and types, such as access control, authentication and encryption.
An important piece in securing the database is real-time monitoring. Network and host-based intrusion detection systems can identify and warn of suspicious traffic. The results can be analyzed for policy breaches and known exploits. Monitoring can also establish baselines of normal patterns of use, which can be compared to abnormal, potentially suspicious activity. This suspicious user can then be "quarantined."
Attacks against websites that transact credit card payments are a fact of life. A security breach costs the company loss of money and reputation. Computer security testing services, source code reviews and database and security event monitoring are all security controls that can help protect against breaches, while demonstrating compliance to standards.
Author writes about a variety of topics. If you would like to learn more about Source code review, visit http://www.plynt.com/.
When recently surveyed, owners of small businesses overwhelmingly stated that they believed that their merchant credit card processing services were less likely to be targeted by cybercriminals than large businesses. Unfortunately, statistics don't support that belief and small businesses need to be aware.
Complacency is Dangerous
Because small business owners don't think that they are likely targets, many decline to spend the money needed to offer the best protection for their bank accounts and credit card transactions. The most effective protection will cost more, and proper training in the use of mobile terminals and data security takes time as well as money. Complacency is the best friend of thieves and they continually search for naive businesses that are most vulnerable.
Data Means Dollars
As a result of typically lax security measures in place at small businesses, cyber-thieves specifically target such establishments. These companies access the same data as larger business, bank account numbers, credit card numbers, employee social security information and so forth, but they do less to protect them.
It is not uncommon for crooks to get access to such information and clean out a small business's bank accounts in one transaction, leaving the business high and dry and owners wondering how it happened. In October of 2010 a small group of Ukranian Internet thieves were arrested for stealing $70 million from small and medium-sized US businesses.
Protecting Yourself and Your Business
There are a few essential ingredients you must employ if you want to ensure that you are using the best security for your business:
* Use the latest browsers; they offer the best security
* Establish policies related to who can use the Internet at work and when
* Create rules about off site Internet access of your company computers and servers
* Learn how to use the tools that come with your credit card services
* Stay current on security threats, changes and updates
While small businesses have some advantages in flexibility and customer service, they lag behind larger companies who have the money to invest in the latest and greatest technology, IT teams and advanced security systems for their Internet interactions. Spend time learning, researching, and identifying current threats and give your business a chance at success from the get go. This means that as a budding entrepreneur you need to take a more active role and pursue security for your merchant credit card processing aggressively - for your safety and that of your customers.
Michael Rupkalvis owns the Transaction group. The Transaction Group offers cheap credit card processing services and other solutions such as medical marijuana credit card processing for dispensaries throughout the United States.
Scammers attempt to create panic by claiming that their credit card bill is overdue by one week. Users who download the file out of panic or curiosity to check the authenticity of the claim, inadvertently download a malware on their computer systems. Security researchers at Sophos have detected the malware as Troj/Invo-Zip. The Trojan arrives in a Zip file and attempts to download more malware into the compromised machine. The malware affects Windows operating system.
Scammers also attempt to defraud users by sending URLs or image and video files related to an event or celebrity. Scammers may also send a fake invoice related to a parcel service or entice users to fill a malicious form for tax refund. In one of the recent spam attack, scammers attempted to capitalize the death of pop singer Amy Winehouse to download malware and compromise computer systems.
Internet users must not click on suspicious links and avoid downloading attachments in e-mails with suspicious claims. They must regularly update the security software to benefit from the latest virus and malware definitions added by the vendor. They may keep track of the security updates by visiting the websites of Computer Emergency Response Teams (CERTs) and product developers. E-learning and online degree programs may help Internet users in gaining insights on security threats and safe online computing practices.
Scammers may also target employees through social engineering techniques. As such, organizations must update employees on the latest threats through training sessions and e-alerts. They may also encourage employees to undertake online university degree programs to gain understanding of the security fundamentals and improve their cyber security practices.
Professionals qualified in masters of security science help organizations in making assessment of different threats in the IT environment and initiate corrective measures.
Online shopping makes your life really simple. Gone are the days when you had to travel and wait in a long queues for making purchases. Nowadays, the "Click & Shop" phenomenon has taken the world with a storm. However, safety to your identity and finances should be kept in mind while transacting online. Read on to get into the safe mode!
Cyber Crime is rampant today and is changing faces with the technological innovations. Identity theft statistics are quoted frequently these days, often confusing and scaring people rather than helping at all. Acts of fraudulence include obtaining ones identity and using it to obtain credit in the victim's name, thus leaving the victim with the potential liability for debt, a damaged credit reputation, and the inconvenience of amending credit file!
Credit card and identity thefts can happen anywhere and the probability of being stung by a fraudster only seems to be on the rise. As we evolve into a cashless society, thanks to credit cards and electronic banking, it is vital to keep the identity secure! The most common way of credit card fraud is when someone uses your credit card details to purchase an item online. Cautiousness and awareness are the deterrents against identity fraud.
Here Are Some Basic Tips To Help You Protect Your Identity...
Always keep your credit card and debit card secure
Be conscious of anyone standing in close proximity or watching over you while transacting at an ATM
Make sure you hide the keypad while entering your PIN
Sign your new cards as soon as you receive them
Never let your credit card out of your sight in shops and restaurants and make sure that you get your card back after every purchase
Be suspicious of any person who phones and seeks personal information or bank details without properly identifying himself
Do not forget to shred any paperwork that contains your personal details or account details before throwing them away
Destroy all old, cancelled or expired cards (Remember to cut the cards vertically through the magnetic strip, before disposing them)
Contact your financial institution immediately if your card or account details are lost or stolen
Keep in mind to check sales vouchers for the correct purchase amount before you sign them, and maintain a record of the copies of vouchers
Is Your Identity & Credit Card Account Safe While Shopping Online?
Make sure to keep the below given points in mind before you shop online.
Do not reveal your PIN number.
Shop online only on secure websites and from reputable retailers. Secure sites can be identified by a yellow padlock symbol in your browser with the address 'https' and not http. On a secure site, your information is encrypted before being sent over the Internet and stored on a secure database.
When completing a purchase online be cautious to not reveal personal details such as your SSN or bank details. Such details are irrelevant to the purchase process and their revelation makes you an identity theft victim.
Beware of phishing scams, and never send your card details through email, as there are possibilities of crooks intercepting your message and stealing your details. Do not respond to a request to verify your account number or password.
If you suspect any unauthorized transaction on your account, contact your bank immediately.
Keep a regular check on your account balance and cross-reference them with your receipts.
Always print or electronically save any records related to your shopping in order to keep track of your transaction details. These days most of the secure websites provide for the facility of an automatic email confirmation e-mailed to the customer immediately after purchase.
Keep in mind to change your passwords regularly, if you make frequent online transactions.
Spyware and other malicious programs can collect personal details like credit card numbers and PIN. Hence, it is always recommended to use firewall, virus and Spyware protection.
Remember that a little bit of caution avoids a lot of unnecessary stress and harassment! It will also benefit to know that with most credit card accounts you will not be held liable for the losses arising out of fraudulent use so long as the fraud isn't a result of your own negligence! Keep the above tips in mind and be armed when you shop online. Fight crime, do not become a victim!
For safe and secure online shopping tips visit deals direct
67 WALL STREET, New York - September 14, 2011 - The Wall Street Transcript has just published its REITs Report offering a timely review of the sector to serious investors and industry executives. This REITs Report contains expert industry commentary through in-depth interviews with public company CEOs, Equity Analysts and Money Managers. The full issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.
Topics covered: Acquisition and Financing Costs - Real Estate New Supply - Pricing Power Outlook - Residential and Commercial REITs - Correlation Between Macroeconomy and Real Estate
Companies include: Fannie Mae (FNMA.OB); Invesco Mortgage (IVR); American Campus (ACC) and many more.
In the following brief excerpt from the REITs Report, interviewees discuss the outlook for the sector and for investors.
Douglas Harter, CFA, is a Vice President at Credit Suisse Group covering the mortgage REITs and mortgage insurers. He joined Credit Suisse in 2000 covering the specialty finance sector. Mr. Harter has a B.S. in accountancy and a B.S. in finance from Villanova University.
TWST: What is your overall sentiment and outlook for mortgage REITs and why?
Mr. Harter: I have a positive stance on the mortgage REITs. I believe that while the shares are generally fairly valued, the stocks are going to be able to continue to deliver about a midteens dividend yield, and that's where the majority of the total return should come from. As to why I think the current environment is very favorable, on the agency side, that's because they have a steep yield curve, and on the nonagency side, credit spreads are still very wide from a historical standpoint, even though they have tightened quite a bit since early 2009.
And also today on the nonagency side, the availability of credit, of financing, for those positions is much more available today than it has been really at any point over the past couple of years. And that's leading these companies again to be able to generate midteens returns today. I think that the level of return is sustainable given the weaker economic data points we've seen, which should leave the Fed on hold at least until midyear of next year and probably longer than that.
So that's the near-term positive for the group. The longer-term positive opportunity I see is that, clearly right now, the government has been very involved in the mortgage market. And as the government starts to step back from the mortgage market, I do think that the REITs are going to be a provider of capital to help absorb some of that extra opportunity that should arise.
TWST: What names do you like in the space right now and why?
Mr. Harter: Like I said as we started, I'm generally constructive on the group as a whole, but the two favorite names that I have right now would be Invesco Mortgage (IVR) and Two Harbors (TWO). Those are both hybrid mortgage REITs. Two Harbors invests in both agency MBS and nonagency residential mortgages.
They tend to focus on more-credit-impaired nonagency bonds. They like subprime. They like option ARMs. They feel like those offer better risk/returns given what the assumptions they are able to price into those bonds.
Invesco Mortgage is also a hybrid. In addition to the residential area, they invest in CMBS as well. They tend to focus on less-credit-impaired nonagency bonds. They take a different opinion. They think that those offer better relative returns. But both are seeing better relative opportunity in the nonagency side today, and both recently raised capital to take advantage of some of those opportunities.
TWST: Overall, do you see balance sheets being healthy in this space?
Mr. Harter: Yes. The amount of leverage that the players are holding today is down significantly from precrisis levels. If you look at the agency side, the players used to lever that asset about 10 times debt to equity. Today they are more about seven times debt to equity. So they have definitely reined that in.
The nonagency side is typically levering around one to 1.5 times debt to equity. The one question mark that some people have on the balance sheet side right now, which should be resolved by the time this gets published, would be the whole issue with the U.S. debt ceiling and potential for raising that and the effect that would have on the short-term capital markets.
TWST: What were the key themes from last quarter's earnings, and what are you looking for as we head into earnings season for the second quarter?
Mr. Harter: I think one of the key themes is you have started to see some companies look to increase the amount of hedges that they have against their interest-rate risk, and to look to better position themselves to protect the returns they have today and to really build or extend the current level of returns further out to the future, and to mitigate some of the impact of interest-rate risks. We started to see some of the beginning of that last quarter.
I would expect to see some additional moves along those lines in the coming earnings. I think the other key thing, as evidenced by the capital that's been raised recently, would be the opportunity that these companies continue to see, and how and where they're seeing the opportunities to put that money to work.
The Wall Street Transcript is a unique service for investors and industry researchers - providing fresh commentary and insight through verbatim interviews with CEOs and research analysts. This REITs Report is available by calling (212) 952-7433 or via The Wall Street Transcript Online .
The Wall Street Transcript does not endorse the views of any interviewees nor does it make stock recommendations.
For Information on subscribing to The Wall Street Transcript, please call 800/246-7673
