Swiss bank Credit Suisse accused its former vice president of emerging markets Agostina Pechi, hired by the U.S. investment bank Goldman Sachs of theft of trade secrets, reports Bloomberg.
Credit Suisse has filed a complaint in a Manhattan court sustaining that the information was stolen in an attempt to win customers for Goldman Sachs.
In February and March, Pechi secretly sent e-mails with customer lists and other confidential banking information from her work account to her personal account. She also printed important documents relating to transactions, late at night, when she was officially away on vacation, says the complaint filed by Credit Suisse on the 3rd of May 3.
Pechi earned 950,000 dollars last year and lives in New York. She resigned from Credit Suisse on the 2nd of April, informing she accepted a job at Goldman Sachs in New York.
“Pechi decided to steal confidential information from Credit Suisse and contact details she gathered during the time spent at Credit Suisse. She plans to use the data to compete with Credit Suisse and share them with her new employer, specifically targeting the Swiss bank’s clients, “said the complaint.
A spokesman for Goldman Sachs declined to comment, and Pechi could not be reached.
Funny thing is Goldman Sachs hasn’t been exempted from data thefts from ex-employees!
This Sunday an incident of the most common happened at the Lyon train station in Paris: a thief disappeared an USB stick from a car. Nothing special here, this kind of things happen everyday!
What makes this incident so special is the info stored on the memory stick. The owner of the key is an entrepreneur involved in an installation of fiber optic at some important buildings in Paris. His USB stick contained the highly confidential plans of the Elysée palace, the Internal Affairs Ministry and the Paris Police. The worst is that the stick was not encrypted, so the thief has full access to all the documents!
The questions we need to ask now is: did the thief know beforehand what type of info was on the stick or did he steal that precise stick just by accident?
When you are the lead artist of a security mishaps that ended up in a data breach affecting some 24 million people, consequences are bound to catch up with you. And they just have caught up with shoe retailer Zappos.com and the bigger online fish behind them, Amazon.com. The two companies are being sued by the customers affected by the data breach, being accused of negligence.
A woman from Texas seems to be the main promoter in this Kentucky lawsuit. She claims that she and millions of other customers were harmed by the exposure of their personal account information. Zappos and Amazon have not commented on the lawsuit as of earlier today. Read more
Only 55 of the data loss breaches have actually been reported
If you can’t stop data breaches, at least cover them up! This seems to be the data security code British authorities go by. Too bad for them there is something called Freedom of Information Act requests… A new report issued by privacy campaign group Big Brother Watch showed that councils across the UK experienced over a thousand data loss cases over a three year period – August 2008 to August 2011.
To get the information, the group sent 433 FOIs to local authorities and councils across the Great Britain and showed s shocking discrepancy between the reported 50 something incidents and the harsh reality. Not only did BBW uncover the data mishandling cases, they also requested information on what happened to the employees of said councils – if they had been disciplined, fired or prosecuted over the data breaches -, and inquired about the council’s response to each incident. Read more
A whole lot was written on loss/theft of hardware (laptops, USB sticks, external hard drives, etc.) and we had thought that organizations would learn their lesson and encrypt sensitive data on such supports. Apparently, things aren’t quite like that and two recent incidents come to prove it.
A resident student at Vancouver Coastal Health lost a laptop and a USB stick (there is a high probability that the hardware was stolen) at the Toronto Airport. The information stored on the drives was password protected but it wasn’t encrypted.
A Vancouver Coastal Health official calls the incident ‘unfortunate’ and says that ‘This is the way physicians and other health care workers need to do their job. They need to use these devices.’ He admits that many professionals use laptops and that the agency has some issues handling mobile technologies.
Another mishap took place in the United Kingdom and the theft of a laptop that stored personal information of 100 young people who participated in inclusion programs. This laptop was in the house of a contractor of the Newcastle Youth Offending Team organization. The ICO (Information Commissioner’s Office) has established a fine for this organization for not encrypting the data. According to Sally-Anne Poole ‘Encryption is a basic procedure and an inexpensive way to ensure that information is kept secure.’ She underlines the fact that organizations working with contractors must make sure that the latter ones align to their security policies.
Let’s hope that at least legal constraints will force private data handlers to implement solutions and politics to maintain their data safe and secure.
While data breaches are as common as any other daily occurrence in the business and individual worlds, the large security incidents don’t happen as often, especially if you think that one of the breaches in the top ten all time largest data exposures dates back to 1984. 2011 is not yet over and it already is the poster child of this top we all want to see unchanged.
2011 is the only year with three major data loss incidents in the top ten: Sony Corporation with 77 million records exposed, SK Communications, Nate, Cyworld with 35 million and again Sony Corporation through their Sony Online Entertainment division with close to 25 million records exposed. Luckily for us, although it featured large incidents, 2011 did not create as many victims as 2009 with its two incidents, Heartland Payment Systems, Tower Federal Credit Union, Beverly National Bank which share the number one position in the infamous top with 130 million records exposed and RockYou Inc. with another 32 million. Read more
Endpoint security developer CoSoSys has released a new version of their data loss prevention, device control and endpoint security solution for Windows and Mac OS, Endpoint Protector. Offering enhanced protection, increased effectiveness and the fastest implementation time in its segment, the out-of-the-box Hardware and Virtual Appliance is now available for small, medium and large companies and organizations.
Coming with a long list of new features targeting better security, reliability, ease of use and better adapting to company structures and organization charts, Endpoint Protector 4 is designed to protect networks ranging from 20 computers (endpoints) to more than 5.000 endpoints.
Some of the top benefits of this latest Endpoint Protector solution are:
- Seamless integration in business processes
- Saving time and money when the solution is installed
- Increased security through enhanced protection
- Reducing allotted resources of the security staff
- Optimum security through enhanced stability
- Enhanced protection through complex, adaptable end efficient security
- Reliable security through enhanced monitoring and policy control
We have recently written quite a few pieces on hacking, hacker-caused data breaches, and other such incidents. As we kick off the week and this first month of fall, more pieces of news along the same line come to our attention.
Two students hacked into the Birdville Independent School District’s servers and ran across a file containing 14,500 student names, ID numbers as well as social security numbers.
Borlas.net was also the playground of hackers. After managing to access their files, the hackers responsible for the security breach also leaked names, passwords, emails and phone numbers of nearly 15,000 registered users. Read more
Hospitals, healthcare services providers, health insurance companies, all those operating in the healthcare segment seem to be particularly vulnerable to data breaches. Their patients and employees’ private details seem to be a frequent target for theft and easy to lose. It seems like this entire industry segment has no idea how to keep their data safe or how to properly dispose of it.
To recent incidents highlight this serious security issue affecting healthcare players. The first incident occurred at Texas Health Partners and Texas Health Flower Mound Hospital. A laptop was stolen from an employee of Texas Health Partners and it happened to contain private details about hospital patients. While the information was not encrypted, the laptop was at least password protected. The stolen notebook contained various details on patients, including name, addresses, medical history and lab test information. The number of affected patients has not yet been disclosed. Read more
The beginning of August has been extremely rich in data breaches caused by stolen or misplaced flash drives, hard drives and laptops, most of them unencrypted, as it almost always happens. Some of them are quite recent, in other cases it has taken over 5 months for those in question to let the affected parties know about the incidents.
The first breach in chronological order affected Lewisham Homes Limited and Wandle Housing Association Ltd and it involved a contractor’s flash drive that got lost in a pub. Apparently, mixing drinking and having fun with sensitive information does not lead to a tasty cocktail, it leads to details of over 26,000 tenants being lost. The silver lining of the incident is that only 800 people should worry about bank details. Read more