by
Rogier van Vlissingen
| Aug 09, 2011
Thanks to some feedback from a colleague at work, I learned that recently keyloggers played a starring role in a tv drama - where a law firm lost a case because their information was syphoned off with help of a keylogger. Not too far fetched, and it does not only happen on TV.
Going by the reports from FBI etc. businesses have lost serious money due to these programs, that can sneak up on you, because they are hard to detect. We and/or our clients and associates have experienced these painful situations, and the banks generally do not honor any claims if your account was accessed with valid credentials.
Or if you want it from the horse's mouth:
Card Issuer Liability- sample of non-liability of issuer. Comments on liability under one bank’s prepaid Master card program- Major US bank “Capital One Bank”
http://www.capitalone.com/prepaid-cards/?linkid=WWW_1010_CARD_TGUNS12_CCMAIN_L1_09_T_PRECAR
Note the zero liability benefit to card holders does NOT apply to PIN-based transactions…
“Zero Liability does not apply to PIN-based transactions”
Accepted everywhere Debit MasterCards are accepted
² Terms and conditions may apply. In the event of unauthorized use of your Capital One® issued Prepaid Card you will get the benefit of Zero Liability if the following apply: you have exercised reasonable care in safeguarding your card and you have not reported two or more events of unauthorized use in the past 12 months. However, Zero Liability does not apply to PIN-based transactions. Unauthorized use means that you did not provide, directly, by implication or otherwise, the right to use your card and you received no benefit from the “unauthorized” purchase.
To the banks, you're a statistic. To you, it's your money.
The fact of the industry remains that often times security is ignored until it's too late. This is one area where you do not want to wait until it's too late.
Prevention is the key, and that means out and out stopping the possibility of keylogging:
One of our vendors, Strikeforce Technologies, has developed the perfect, and perfectly simple defense against keyloggers, called GuardedID(R). The company currently has an infomercial running, starting Saturday August 13 on Fox NY at 1:30 PM, and at various times and different channels after that.
This is the simplest security measure you really don't want to do after the fact. Individual licenses are available at our site www.guardyourdatanow.com