High profile cyber attacks call for joint global action

June 10, 2011
Cyber Security, FedCyber Wire
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via International Business Times

The security breach at Citigroup Inc., which lost personal information of 210,000 credit card customers to hackers, is just the latest of a string of cyber attacks on high-profile companies.

The successful targets of hackers the past two months include data storage firm EMC Ltd, information technology provider Lockheed Martin, electronics giant Sony Corp., and search giant Google Inc.

Google Inc. said the phishing attack on its Gmail accounts targeted, among others, senior U.S. government officials and Chinese political activists and journalists. The U.S. government is assessing if security had been compromised by the Gmail attack, which originated in China.

Citigroup said hackers accessed the data of 1%, or estimated 210,000, bank card holders in North America and did not rule out the possibility of fraudulent charges on the accounts. Sony lost to hackers credit card information of 12.3 million account holders after a breached of its PlayStation and said the breach would cost it $170 million.

In the U.S., the Federal Bureau of Investigation, the Department of Homeland Security, the Secret Service and other law enforcement agencies are taking action against cyber criminals. In 2010, the Secret Service arrested more than 1,200 suspects for cybercrime violations. These investigations involved over $500 million in actual fraud loss and prevented approximately $7 billion in additional losses. However, this may not be enough. However, hackers in the recent high-profile attacks have not been charged or arrested.

Continued here.