Fighting Hackers, Fraud and Wrong Perceptions. (ABA Chairman's Position)

By Patterson, Aubrey B. | ABA Banking Journal, April 2003 | Go to article overview

Fighting Hackers, Fraud and Wrong Perceptions. (ABA Chairman's Position)


Patterson, Aubrey B., ABA Banking Journal


YOU'LL RECALL THE NEWS STORY IN February about a hacker who gained access to millions of Visa, MasterCard, American Express and Discover credit card account numbers. The hacker reportedly broke into the computer system of an Omaha company that processes credit card transactions.

Several things immediately happened. First, the security breach quickly triggered a criminal investigation, with the Secret Service and FBI taking the lead. Also, a number of banks notified affected customers and, in a few cases, issued new account numbers. And third, press coverage helped blow this cyber crime out of proportion, with some news outlets calling it "the biggest credit card hacking incident so far."

So much for keeping the security lid on. USA Today even editorialized that these kinds of break-ins aren't publicized enough. "In most hacker attacks, nobody outside of the victimized company finds out when thieves steal trade secrets, confidential consumer information or money," said the newspaper's editorial of Feb. 21. "The vast majority of firms keep the attacks to themselves out of fear that disclosure would hurt business and invite lawsuits." The paper called for banks and others to widely publicize such crimes, saying "companies forced to reveal breaches also would have a stronger incentive to improve the security of their computer systems."

What was lacking in the press coverage was what bankers always provide their customers in the way of safety and security. Lost in many of the news stories, was what we do as an industry to keep our customers safe from the unwanted intrusions of cyber-criminals. The confidentiality of our customers' financial information is central to the business we re in. When a customer is defrauded, our practice has often been to take the financial loss. …

The rest of this article is only available to active members of Questia

Sign up now for a free, 1-day trial and receive full access to:

  • Questia's entire collection
  • Automatic bibliography creation
  • More helpful research tools like notes, citations, and highlights
  • Ad-free environment

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this article

This article has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this article

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited article

Fighting Hackers, Fraud and Wrong Perceptions. (ABA Chairman's Position)
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Full screen

matching results for page

Cited passage

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited passage

Thanks for trying Questia!

Please continue trying out our research tools, but please note, full functionality is available only to our active members.

Your work will be lost once you leave this Web page.

For full access in an ad-free environment, sign up now for a FREE, 1-day trial.

Already a member? Log in now.