February 20, 2014
The number of cyber breaches worldwide is on the rise, and the U.S. market appears to be particularly vulnerable. The Founder & CEO of V-Rooms™ Virtual Data Rooms, Dan Bradbary, appeared on FOX News Channel: America’s News Headquarters in NYC to urge business owners, retailers, and individuals to implement counter attack strategies to possible cyber attacks.
There has been a string of Internet security breaches in the U.S. recently. Internet giant Yahoo announced the usernames and passwords of its email customers had been stolen and used to gain personal information, as evidenced by this Washington Post article on January 31st. That was shortly after the FBI issued a warning to all U.S. retailers to brace for more possible hackings in this Reuters article on January 24th, after uncovering dozens of cases of cyber breaches in 2013, involving the same kind of malicious software or “malware” used against the retail giant Target during the holiday shopping season.
The result of an FBI investigation, which was sent out to retailers, reportedly described the risks of “memory parsing” malware that infects point-of-sale (POS) systems, such as cash registers and card-swiping machines. Also, financial asset managers are being placed under increased review by the Securities and Exchange Commission to insure that they have procedures in place to prevent, detect and safeguard against security risks that could arise from vendors having access to their systems.
“Using public Wi-Fi connections when accessing online banking or other transactions, puts your personal information in jeopardy,” Mr. Bradbary told Fox News. “In certain instances, the extra data charges may be worth using your smartphone as a mobile hotspot. You may want to check with your service provider, because some mobile devices are capable of setting up a private wireless network – a much more secure method than using a crowded, slow, public Wi-Fi connection.”
Talking with Emmy Awards winning journalist Kelly Wright of FOX News, Mr. Bradbary warns large-scale attacks are looming and urges individuals to be vigilant to protect their personal information. Most simply, he recommends using complex passwords comprised of upper and lower case letters, numbers and special characters. He also recommends that attorneys, accountants and other professional service providers adopt a secure client login, portal or extranet and not use email in communications with their clients.
Mr. Bradbary showed Fox news anchor Kelly Wright an example of the new micro-chips now being embedded into newly issued credit cards. U.S. retailers have a mandatory October, 2015, deadline to transition to this chip technology in credit cards, which will eventually replace the antiquated magnetic card “swipes” at cash register machines. Mr. Bradbary feels it may be worthwhile to put this chip technology into effect sooner.
V-Rooms™ provides a cloud-based, customizable virtual data room (VDR) solution that is designed to streamline document management, collaboration, exchange and archiving for financial, legal and corporate professionals. The V-Rooms™ Software-As-A-Service (SAAS) secure document portal facilitates the secure exchange of sensitive information providing compliant and auditable transactions. V-Rooms™ enables the acceleration of complex, information-intensive processes while reducing the time and expenses associated with data distribution, courier, printing and travel. Additional information can be found here.