Tech News World: Russian Gang’s Credentials Theft Exposes Web’s Wild, Wild West Side

Russian Gang’s Credentials Theft Exposes Web’s Wild, Wild West Side
Because passwords impose little friction on consumer purchasing, merchants are reluctant to kick them by the side of the road, so the Russian gang’s vacuuming operations won’t end any time soon. However, there are other measures in the formative stages that promise to foil even the most enterprising credential thief. They include behavioral fraud protection.

NuData Security’s CTO Christopher Bailey was quoted in the wake of the massive credentials theft to discuss what new technologies can be applied to secure customer data. Read the full article at Tech News World.

By John P. Mello Jr. 08/12/14 10:52 AM PT — News that a Russian gang has stockpiled more than a billion purloined user name and password combinations has revved up the Internet’s reputation as a post industrial Wild, Wild West.

Just how much havoc will be raised by the gang remains to be seen. The data thieves so far appear content to use their ill-gotten trove for spamming, according to Hold Security, which announced its discovery of the stolen credential cache last week. Since little is known about the quality of the data — especially its age — it may be that spamming is all it’s good for. [read more]