2008 Newsletters

•  Volume 1
  • Number 1 (3/30/08)
    • FDIC Funds May Not Cover Bank Losses
    • First Smart Card Business Round-table
  • Number 2 (4/6/2008)
    • The Chaos Computer Club is maintaining a database of finger-prints
    • Rumor became fact causing Bear Stearns to tether on bankruptcy
    • Census goes paper
  • Number 3 (4/13/2008)
    • GAO urges OMB to focus on agency use of PIV cards
    • More malicious code is developed worldwide than legitimate code
  • Number 4 (4/20/2008)
    • Retail PCI is not a panacea
    • IPv6 taking hold as IPv4 addresses deplete
  • Number 5 (4/27/2008)
    • Head of 2010 Census to retire
    • Sub-prime crisis aided first person crime
  • Number 6 (5/4/2008)
    • 3 of the 4 largest banks in the world are now in China
  • Number 7 (5/11/2008)
    • Counterfeit Cisco routers were installed in Government networks
    • Police nab suspects after remotely controlled picture taken by the stolen computer
    • US regulators close $2.1 billion FDIC insured bank
  • Number 8 (5/18/2008)
    • Chinese Hacking against Belgium
    • Counterfeiting currency is on the rise
  • Number 9 (5/25/2008)
    • Man convicted defrauding $350,000 (from Enron)
    • NSA Web and email out for several hours due to improper DNS configuration
  • Number 10 (6/1/2008)
    • China embeds microchip in Olympic tickets with bearer’s information
    • Did cyber-attacks contribute to US power blackouts?
    • Anti-P2P company inadvertently shuts down legitimate business
    • Fourth bank failure this year
    • Hacker takes over NASA Phoenix Public Web site
  • Number 11 (6/8/2008)
    • IAB—Government working to authenticate non-PIV cards
    • Contactless Visa and Master Credit Cards
  • Number 12 (6/15/2008)
    • DC Plans to scrap a new $135 million tax application rather than try to upgrade
    • 2.2 million hospital billing records stolen in Utah
    • One woman bilks Government out of $105 million in Medicare fraud
    • Utilities vulnerable
  • Number 13 (6/22/2008)
    • GAO finds security weaknesses at Federal Reserve Banks
    • Malware nearly ruins a life
    • The FDIC ordered Fremont General Corporation to stop making sub-prime loans in March 2007
    • Fremont General Corporation files for Chapter 11 bankruptcy protection
  • Number 14 (6/29/2008)
    • GM stock hits a 53-year low
    • Turkish hacker redirect visitors to Internet Assigned Numbers Authority to illicit site
  • Number 15 (7/6/2008)
    • Hackers stole Citibank ATM PINs netting them $ millions
    • French Commission noted significant weaknesses in Société Générale bank’s computer security system
  • Number 16 (7/13/2008)
    • Implanted Pacemakers and defibrillators vulnerable to hackers
    • Two compromised passwords almost resulted in 90 million euro loss for HSBC bank
    • Regulators take over second larges bank failure in US history
  • Number 17 (7/20/2008)
    • New Zealand judge spares criminal conviction for $20 million loss hacker
    • FBI Bank Crime Statistics—In 2007 $24 million in loot taken
  • Number 18 (7/27/2008)
    • Over 75% of banks sites are insecure
    • Regulators close two more banks
  • Number 19 (8/3/2008)
    • Regulators close another bank
  • Number 20 (8/10/2008)
    • Black Hat Hacker Conference
    • 11 Hackers charged in theft of 41 million credit and debit cards
  • Number 21 (8/17/2008)
    • Russia Cyber-Attacks Georgia
    • FDIC Many Need Cash
  • Number 22 (8/24/2008)
    • Freddie Mac and Fannie Mae hit 18 year lows
  • Number 23 (8/31/2008)
    • FDIC may need to borrow money from Treasury
    • Computer virus infects space station laptops
    • Forbes lists FDIC Chairman, Sheila Bair, as second most powerful woman in the world
    • Integrity Bank 10th bank closed
  • Number 24 (9/7/2008)
    • $500 million Railhead anti-terrorist application in trouble
    • 11th bank Silver State fails
    • Some IRS Web Servers lack adequate security
    • Freddie Mac and Fannie Mae to be placed in a Government conservatorship
  • Number 25 (9/14/2008)
    • Head-on collision of Passenger and freight trains sharing the same track
    • Less than an hour later, another train accident killed a motorist
    • Algos drop United Airlines value by $1 billion in 15 minutes of trading based on outdated story on Google
  • Number 26, (9/21/2008)
    • Largest $500 billion Government bailout of Money Funds
    • Government $85 billion takeover of AIG
    • Number 4 Investment Bank, Lehman Brothers files for bankruptcy
    • Number 3 Investment Bank, Merrill Lynch, sold to Bank of America
    • Regulators shutter Ameribank the 12th bank this year
  • Number 27, (9/28/2008)
    • Bank Number 13, Washington Mutual, largest failure to date
    • Goldman Sachs and Morgan Stanly converted to bank holding companies under Fed regulation
    • FDIC plans bank premium increases
  • Number 28 (10/5/2008)
    • Citigroup, correction Wells Fargo, acquires Wachovia
    • Calls to raise FDIC deposit insurance to $250K
    • First time citizen journalist posted bogus Steve Jobs story that caused Apple stock to tumble The $700 billion
    • Emergency Economic Stabilization Act of 2008 become law
  • Number 29 (10/12/2008)
    • Retirement accounts lost $2 trillion during past 15 months
    • Regulators shutter Meridian Bank and Main Street Bank
    • September 26 silent run on Wachovia - Accounts greater than $100K withdrew $5 billion
  • Number 30 (10/19/2008)
    • Europe puts $2.3 trillion on the line to protect banks
  • Number 31 (10/26/2008)
    • French president's bank account hacked
    • Over 1 million people now have PIV cards
    • Iceland received $2 billion IMF loan
    • Congressman calls for 25% cut in defense spending
    • Alpha Bank in Georgia is 16th bank shuttered this year
  • Number 32 (11/2/2008)
    • Three ATF agents trained to lie passed polygraph test
    • A $1 million fire at ICBM silo that burnt itself out went undetected for five days
    • The Sinowal Stealth Trojan stole 300,000 bank logins
    • Freedom Bank becomes 17th bank failure
  • Number 33 (11/9/2008)
    • Chinese hackers repeatedly penetrate White House network and email
    • Chinese hackers successfully attacked Obama and McCain headquarters computers
    • Franklin Bank with $5.1 in assets was the 18th bank shuttered this year
    • Security Pacific Bank becomes 19th bank closed this year
  • Number 34 (11/16/2008)
    • Secretary Paulson reverses direction on TARP, will not purchase troubled assets
    • Microsoft SMB Exploit patched after 7 years
    • Treasury bank examiner charged with stealing over $500K
    • McColo ISP taken down, worldwide Spam decreases 40%—75%
  • Number 35 (11/23/2008)
    • GM hits 70 year stock price low
    • Community Bank becomes 20th FDIC insured bank closed this year
    • Downey Savings and Loan Association and PFF Bank & Trust of Pomona bring the number of FDIC insured closings to 22
    • Fear of computer viruses causes Pentagon to ban flash drives
  • Number 36 (11/30/2008)
    • Did hackers render the ROSAT satellite useless in 1998?
    • Number of problem banks rises to 13 year high
    • Yield on 10-year Treasury debt falls below 3%, lowest in 50 years
  • Number 37 (12/7/2008)
    • More malware programs created than useful programs
    • 21 million German bank customer details for sale
    • First Georgia Community Bank becomes 23rd bank closed by regulators
    • 3,000 TWIC applications inadvertently deleted
  •  Number 38 (12/14/2008)
    • Man charged in $50 billion Ponzi scheme
    • New IE exploit and no patch available
    • Chicago Tribune files for bankruptcy
    • 3-month Treasury bills trade for a negative yield
    • China plans to certify foreign security product imports
  • Number 39 (12/21/2008)
    • Oil falls below $34 per barrel for the first time since April, 2004
    • GM & Chrysler loan consumes last of initial TARP funds
    • $3.5 Billion Petters Ponzi scam forced Polaroid into bankruptcy
  • Number 40 (12/28/2008)
    • India and Pakistan tensions escalate