The other day, I got another dreaded letter from my bank letting me know that because I had shopped at Home Depot, it was possible that my accounts may have been compromised. They were going to send a new card to me in the mail in the next few days. The first thing I thought of was, wait…Home Depot confirmed it was hacked on September 9, 2014. They also said that the hacking could have been occurring since April of 2014. I received my letter on October 1, 2014. It sent chills down my spine! Not to mention the time it took me to activate my card, go down to the bank to change the PIN, come home and get online and go to the few websites where I actually store my card on their site….and all of the things I do using my mobile phone or iPad that access my card. Ive really come to love using my banks mobile app, shopping with my iPad at Amazon.com, using my Kindle that accesses my card whenever I order a new book (frequently!).
And then I began thinking….I have recently been working on a video project with the IBM System z Analytics team to highlight how System z can integrate transaction and analytics for real-time fraud detection:
Real-time fraud detection is about gaining the advantage over fraudulent use of your bank accounts when transactions and analytics are processed by the same system – regardless of the device. Imagine how much money my bank could have saved if they didn’t have to issue thousands upon thousands of new cards every time a large company gets hacked. What if they could detect fraudulent activity AS IT HAPPENS?! And act on it immediately!
Which brings me to another point – from the perspective of the companies that were hacked. As I stated in my last blog post, “Security, no matter which platform chosen, is only as good as the designers and implementers. “. If you have ten doors and only lock five of them, you aren’t secured. Does your company have an architectural security strategy? Have you followed your strategy from what should happen from a security perspective from the moment a transaction hits the system of engagement onwards?
My next project is a security architectural IBM Redbooks publication that will examine just this issue. Do you think you have what it takes to work on this important publication? Come and join us in beautiful Poughkeepsie, NY (only about 75 miles from beautiful NYC)! You can apply using this link: End