Millions of Password Vaults Exposed; What This Means for Online Fraud

Fraudology Podcast with Karisse Hendrick

Fraudology is presented by Sardine.

In the last ~2 weeks, there have been headlines about 3 data breaches/"security incidents" that are worse than we could have imagined.Just some of the headlines from these 3 incidents:

"400M Twitter users’ data is reportedly on sale in the black market"

"LastPass finally admits: Those crooks who got in? They did steal your password vaults, after all…"

"Okta confirms another breach after hackers steal source code"

With the news that millions more names, e-mail addresses, phone numbers, passwords, and other valuable PII were exposed via massive data breaches recently, this is sure to have a massive impact on your customers. And as a result, on your business.

In this episode, Karisse goes through some of the details of each incident, the specific PII that has been exposed, and just how bad this is for any business with user log-ins; from Banks to Crypto to online commerce. Because of this, and additional current threats to online fraud, it is clear that collectively, the anti-fraud world needs to "up their game".

The tools & processes we've relied on for years will be rendered useless on their own if those systems rely solely on verifying that the information at the time of a user log-in or check-out matches a legitimate user. And, especially after the recent disclosures by LastPass, we have to make that assumption, and react accordingly.

https://cointelegraph.com/news/400m-twitter-users-data-is-reportedly-on-sale-in-the-black-market

https://nakedsecurity.sophos.com/2022/12/23/lastpass-finally-admits-they-did-steal-your-password-vaults-after-all/

https://techcrunch.com/2022/12/22/okta-breach-source-code-github/

Fraudology is hosted by Karisse Hendrick, a fraud fighter with decades of experience advising hundreds of the biggest ecommerce companies in the world on fraud, chargebacks, and other forms of abuse impacting a company's bottom line.

Connect with her on LinkedIn

She brings her experience, expertise, and extensive network of experts to this podcast semi weekly, on Tuesdays and Thursdays.

Mentioned in this episode:

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