About Us | Contact Us
View Cart

Fiserv Sued Over Alleged Security Lapses

By Vigilize | Monday, May 6, 2019 - Leave a Comment

The nation’s largest core processor has been accused of multiple security lapses…


An article review.


For smaller banks and credit unions the resources needed to create and maintain their own online banking presence can be daunting. Even after the website is running and customers have a smartphone application they can use, maintaining those platforms and keeping them secure can consume a great deal of time and money. That’s why many organizations turn to a third party–often their core processor–for those services…but sometimes those third parties aren’t up to the task either.

That’s what one credit union is alleging in a lawsuit filed recently against Fiserv, the nation’s largest core processor. An article submitted to us by our friend Wes Pollard details the allegations, which include multiple security issues such as using products that are end-of-life (and therefore no longer receive security updates), failure to enforce HTTPS encryption and disclosing confidential customer information to unauthorized third parties.

Fiserv has had security issues in the past. Last year Brian Krebs of Krebs on Security reported about a broken access control which allowed users to view and edit information about other customers, by simply modifying the digits at the end of a URL. An independent researcher initially found the flaw, but was unable to reach Fiserv to notify them about the issue…until Krebs publicized the flaw on his blog.

Incidents such as this highlight the fact that vendor management, like developing an online banking presence, is something that is never truly complete. To help stay on top of potential issues with your vendors, consider setting up a Google news alert for their names—an incident like the lawsuit mentioned here may not be in compliance documentation you receive from your vendor, but will often make the rounds on security related websites.


Original article by Kevin Townsend, writing for SecurityWeek.com.


same_strip_012513


 

Latest News
    Another awareness poster for YOUR customers (and users).  Now that we have our own employees aware, maybe it’s time to start posting content for our customers! Check out posters.infotex.com for the whole collection! Download the large versions here: Awareness Poster (Portrait) Awareness Poster (Landscape)   You are welcome to print out and distribute this around […]
    The joint cybersecurity advisory includes the 15 most exploited vulnerabilities reported in 2021… An article review.  While a lot of attention is focused on previously undisclosed or “zero day” attacks, some of the most likely attack vectors are vulnerabilities that have been widely known for weeks or even months.  That’s according to a new joint […]
    Threats are changing, EDR can help us adapt . . . Today’s advanced persistent threat (APT) understands that the IT landscape has changed. In the post-COVID age, more and more organizations have adopted some form of work from home.  While WFH offers many conveniences, it also imparts increased risks. BitSight conducted a 2021 study of […]
    The Five Precepts of IT Vendor Management Webinar-Movie We’re going back to basics on Vendor Management. This webinar will give you a training tool to help out that new person that is starting to take on the gargantuan task that is Vendor Management.
    A new way of helping people “read” new guidance… Look for more in the future! To save you time, we are proud to present “Adam Reads” . . . recorded versions of our Guidance Summaries! Below you can find an embedded player for the audio file. If you are having issues with that working, you […]
    You think you’ve finally found stability in your to-do list. Your goals are set, and you’re even making great progress on them all. Audit findings: all addressed. Management requests: Under control. Heck, you might even be able to leave the office five minutes early at least once this year. Then BAM! A press release from […]
    Software Bill of Materials (SBOMs) are becoming more and more important. . . We are all very familiar with one aspect of the software supply chain – updates.  New features, bug fixes, and performance upgrades are a regular occurrence to any device’s lifecycle, however what if these kinds of updates also include deliberately malicious code? […]
    Another awareness poster for YOUR customers (and users).  Now that we have our own employees aware, maybe it’s time to start posting content for our customers! Check out posters.infotex.com for the whole collection! Download the large versions here: Awareness Poster (Portrait) Awareness Poster (Landscape)   You are welcome to print out and distribute this around […]
    According to a new survey, more organizations than ever are reporting problems with cybersecurity staffing… An article review. While pandemic related mandates and restrictions are gradually being lifted across the country, many organizations are still feeling the effects in one important area: staffing.  That’s according to ISACA’s annual State of Cybersecurity survey, which asked over […]
    Understanding Banking Trojans… Another Technical Article by Tanvee Dhir! What are Banking Trojans? A trojan is a malicious program that masquerades as a genuine one. They are often designed to steal sensitive information from users (login passwords, account numbers, financial information, credit card information, etc.). A banking trojan is a malicious computer program designed to […]