Such Dishonesty Fits Right In

Crisis: Online/Offline Internet/Computer Data Theft

"Criminals who steal personal data [online] often don't exploit it. Instead, they put it up for sale on one of the many vibrant online black markets, forums and chat rooms," writes Benjamin Sutherland in "The Rise of Black Market Data", Newsweek, Dec 15 2008.

Time for IT ethics for financial instituitions. No, no. They aren't the culprits. They are to fight it. As Bernard Shaw, the writer, once said, "A fool's brain digests philosophy into folly, science into superstition, and art into pedantry. Hence University education." Thus, already established instituitions need thinking and re-thinking for things and matters very pertinent Harvard Business School Doesn't Teach Them.

ID theft, credit and debit card, personal data, guests data from hotel, online password of accounts, apart from all that they, the theft-theft bandits/hackers are 'legions', security experts say. More than that (in connection to the earlier quoted remark in the beginning of the post), "It's a price war," says Francois Paget, a security specialist for McAfee in Paris.

But their, world-wide hackers, tactics are even more effective against law-enforcement agencies: 'Stunning use of English, often using Russian.... in far, far away terrories like Russia and looting Paris...imagine the paper work between two authorities... meeting "in-person" offline to deliver stoled payment card details'. You name it.

Interestingly. 'Dishonesty' can be the best policy (or atleast effective) in order to fight data theft and smart cyber-criminals (as cunning as patwaris, corrupt low level government land data handlers, of Pakistan). Here's the quote:

"Specialists from some financial instituitions pose as buyers and sellers to gather information to aid law enforcement, or to disrupt markets. Bill Dunn, VP of fraud management at Visa Europe in London, says his team tries to intercept stolen credit-card details so the card company can cancel accounts before a theft occurs... Franklin, the Carnegie Mellon University researcher, explains another disruption technique: his team infiltrates markets and, posing as ripped-off buyers and sellers, slanders participants to foment confusion and mistrust. In the world of illict data markets, such dishonesty fits right in."

* All quotes from, "The Rise of Black Market Data," by Benjamin Sutherland, published in Newsweek, Dec 15, 2008.