Hackers have pilfered some 2 million user passwords and credentials for Facebook and other social media and Internet sites, according to IT security provider Trustwave. The hackers attacked computers in about 100 nations.
Organizations incorporating social media into their daily operations tend to have gaps in policies, and key aspects are often an afterthought, says attorney David Adler, who pinpoints areas to address.
Hackers were using a Facebook page as a how-to site for financial crime and to sell banking Trojans. One RSA security expert says this public promotion signifies the mainstreaming of "fraud-as-a-service."
A 143-point drop in the Dow Jones Industrial Average proves the power of social media and the havoc it can cause when an account gets hacked. It's time for social media companies to tighten the authentication process.
Attacks against Facebook, Twitter and other organizations over the past few months should send a message to business owners that they need to better fund cybersecurity, IT security expert Mischel Kwon says.