Monthly Archives: May 2015

2015
05/29

Category:
Debt Settlement

TAG:

COMMENTS:
Comments Closed

Heeding the Lessons of the FTC Case Against DirecTV

Robby H. Birnbaum is a shareholder in the regulatory group at Greenspoon Marder. He focuses extensively on regulatory practices for credit counseling and debt settlement agencies, marketing and advertising regulation and regulatory compliance. David Schnobrick is a law clerk in the litigation group at Greenspoon Marder.

2015
05/14

Category:
Credit Cards

TAG:

COMMENTS:
Comments Closed

Pentagon Credit Cards Used for Escort Services and Casinos

Civilian and military employees of the Department of Defense (DoD) have used government credit cards to gamble and pay for escort services, an internal audit found.

The Pentagon inspector generals office is about to release a report that some members of the armed services and civilian workers had charges made at casinos and at businesses offering escort services in Atlantic City and Las Vegas.

A Pentagon official told Politico that its possible the department may not have paid the charges because those issued DoD credit cards pay their monthly bills and then request reimbursement. The official also said that the employees may have used the government cards for gambling and escort services in order to shield the charges from spouses, according to Bryan Bender of Politico.

This kind of misuse of government credit cards was supposed to end with the passage of the Government Charge Card Abuse Prevention Act of 2012, which required agencies to keep better track of purchases using such cards.

Since the audit was of the credit card system and not individual users, there will be no sanctions against cardholders, but theyre likely to be warned about improper use of government cards.

-Noel Brinkerhoff

To Learn More:

Pentagon Credit Cards Used For Gambling, Escorts (by Bryan Bender, Politico)

Poker and Escorts on Government Credit Cards (by Brianna Ehley, Fiscal Times)

2015
05/14

Category:
Credit Cards

TAG:

COMMENTS:
Comments Closed

Credit cards stolen, used in Sparks

Two people are being sought after an employee of a Sparks restaurant reported her purse and credit cards were stolen Friday, according to a Sparks Police Department media release.

Around 9 am, on Friday, Sparks Police responded to the Del Taco at 2091 Brierly Way for a theft report.

The employee reported a white male adult came into the business claiming to be there to check computer equipment, the release said. He was allowed into the back offices, where he then stole the employees purse, which included several credit cards.

After the theft, the victims credit card was used at a convenience store in Sparks, by the same male suspect. A white or hispanic female was with the suspect.

The white male is described as 20-30 years old, 5-foot-3, 140 pounds, with black hair

The female is described as 20-30 years old, with a small build and black hair.

The Sparks Police Department is asking for assistance in identifying both subjects and asks anyone with information identifying the suspect or female to contact the Sparks Police detective section at 775-353-2225 or Secret Witness at 775-322-4900.

2015
05/13

Category:
Debt Settlement

TAG:

COMMENTS:
Comments Closed

Biz News:

Our experience here in Orange County has been incredible, the announcement said. We met amazing people, lived wonderful experiences and learned a lot. We owned our first cars, tried to learn how to surf, spent some time in the desert. And we saw the most beautiful sunsets on the ocean. But were creatures of the cold.

Costa Makers held its grand opening in September, calling itself a human-scale collaborative space ideal for designers, illustrators, bloggers, writers, photographers and developers. It also featured handmade decor and furniture that were found in flea markets or bought from artists.

*

Costa Mesa debt services firm files for bankruptcy

Morgan Drexen Inc. of Costa Mesa, a debt-settlement and bankruptcy services company, filed for Chapter 7 bankruptcy liquidation last week.

In its bankruptcy filing, the company estimated it has 1,000 to 5,000 creditors, $8 million in assets and $9.9 million in liabilities. It reported that its revenue declined last year to $22.89 million from $34.66 million in 2013.

The bankruptcy filing came the day a federal judge in Santa Ana froze the companys assets on request of the US Consumer Financial Protection Bureau, which sued Morgan Drexen in 2013, seeking $90.7 million in restitution for about 60,000 consumers who the agency alleges were illegally charged upfront fees for debt-settlement services they didnt receive.

2015
05/13

Category:
Debt Settlement

TAG:

COMMENTS:
Comments Closed

Beth’s Story: Which Debt Solution Did She Choose?

This series is largely based on my five-day email exchange with an actual reader, Beth (not her real name), who submitted detailed personal information.

This final piece focuses on all three of the options to resolve debt that I have discussed in the three previous articles with her so far credit card consolidation, negotiating debts for less and bankruptcy. It is in this final piece that she makes her decision.

How Long Will It Take to Pay Off Your Credit Cards?Plug in your credit card details and we’ll tell you when you can expect to be debt-free. Plus, explore ways to pay it down faster!
Find Out Now

Weighing the Options

Here’s Beth’s email:

Michael, I cant thank you enough for your answers. I spent the whole weekend reading your articles.

[Card issuer 1] brought up the blp (balance liquidation plan) and settlement in my 2nd and 3rd calls, and I havent called [card issuer 2] and [card issuer 3] to see what they say. My payments are all due this week but I want to save the money for the settlement and not pay another outrageous interest fee, however if I were to settle now I wouldnt be able to make the payments in 90 days, I need 5-6 months, with that being said Im seriously considering not making my payments this month, what are your thoughts?

Ive never been late my whole life, but it seems a step back I need to take in order to move forward. I feel stuck in this situation where I cant settle now and pay in 3 months but I also dont want to make another payment paying interest when I could save the money towards the settlement. That leaves me with 1 option I didnt want and thats the no payment/late payment.

Im still looking into the Chapter 7 bankruptcy, but finding a good attorney is an issue, also I just moved from Utah to Florida 2 months ago and spent many months overseas in the last 2 years when I was unemployed and I was making the minimum payment, so when it comes time to meet with a judge I dont know if that would be an issue.

My reply back to Beth:

Your credit card interest rates are not all that outrageous. I see them regularly at twice the 13% average you have. But they are flat-out unaffordable given your current circumstances and the temporary income situation.

I would be a little surprised if you were able to get a good settlement from the card issuers in the early months of having missed payments. You say you need 5 to 6 months to be able to fund settlements. That is currently the amount of time suggested to go (when your credit card payments are not being made), to get to the most reasonable and flexible bank policies and targets for negotiating your debt.

It is not for me to tell you to stop paying your credit cards. I can say that you generally will not reach favorable settlement outcomes when you are current, or only barely behind with payments.

You mention being stuck where you cannot settle now and pay in 3 months. But that is what I am saying too. You generally cannot do that. Your payments generally need to be late more than 90 days, and often more than 150 days late, but not yet 180 days late, in order to optimize your results. It is sometimes better to settle certain accounts even later than 180 days.

In other words, it is not only OK that you have to wait several months without paying before you are prepared to settle the credit cards, it is actually how it works best.

I really do like the Chapter 7 option for you. You are fortunate to be in a position to legitimately consider the three mainstream options for resolving problem debts with credit card consolidation, debt negotiation and bankruptcy. I am not sure why you would be having a hard time locating an experienced bankruptcy attorney? You can do a bankruptcy attorney search by city or zip code; or use your local phone book. If it were me, I would not make my final decision to negotiate these bills down until I talked with at least one attorney about Chapter 7 bankruptcy.

Seeking Professional Guidance

Next, Beth commits to do what I find of major importance for virtually everyone I come in contact with whom needs a form of outside intervention to get relief from crushing debt. That is: calling professionals who offer no-cost consultation and who can provide detailed information about their flavor of debt relief.

Beth wrote back to say:

I called the hotline and an attorney is supposed to call me in a couple of days. Bankruptcy makes me feel uncomfortable, the whole thing about the 7-10 years on my report and everything else is intimidating for someone who has always kept payments current and had financial control their whole life up until 2-3 years ago. It sounds like bankruptcy would save me more than the other options and would be life saving, very tempting indeed, however Im afraid there will be long-lasting consequences. Giving my info over the phone was already intimidating let alone the attorney and the whole process that follows.

Im not sure if I should call the credit card consolidation counselor in the meantime or wait for the attorney first. I did call [card issuer 2] for the first time today, and they basically suggested me to be late at least a month and they would contact me to offer options. So Ive decided that Im not going to pay any of my cards this month. They also said to call a consumer credit counselor to see if they can help me.

To which I responded:

I completely understand your being anxious about talking about any of this with a bankruptcy attorney, or a credit counselor. It is normal to feel that way. But I can tell you it is also pretty normal to feel a sense of relief when you do talk things over with a professional from each of the mainstream debt relief options.

You will consult with the bankruptcy attorney, where I am confident you will be able to dispel some of the concerns you have about filing. You may choose not to file chapter 7, but that decision will be an informed one, which is what I believe people in this spot owe themselves.

I would call a credit counselor. The counseling agency you call about consolidating your credit cards is not as important as choosing the right debt negotiator, or attorney. Using a nonprofit agency to consolidate your bills into one lower payment (with lower interest rates and typically less than a five-year payoff plan), is really a matter of what you can qualify for, which all agencies can quote you and get within a couple dollars of each other. I would make that call as soon as possible, and with the mindset that you are gathering information, not enrolling in the debt management plan they will quote.

Feeling Pressured By Debt Collectors?Find out whats really affecting your credit score. Get a FREE credit report summary, updated each month, and expert advice targeted to your specific situation. Get Started Now

Working Through the Confusion amp; Fear

Beth wrote me back a brief message I have not included here because it rehashed much of what we covered in earlier parts of this article series. She admitted she had been reading so much that she was perhaps a little confused about her options.

I have found some confusion to be pretty normal at the beginning of the information gathering process. Especially if you are grabbing information from many different online resources and/or getting feedback from different people in your own circle of influence (friends and family).

Beth has yet to talk with a credit counselor, or a bankruptcy attorney, and also expressed some remaining confusion about the debt settlement process. She also finally fell in line with nearly all early-stage debt intervention consultations I have ever done, where she expressed sincere concerns about her credit scores and reports.

I am including much of my response to Beth, as it will hopefully drive home some important details.

I wrote back and said:

I know you have read so much to date, but I really think you need to read the following carefully.

Start with this article where I answer the question – What is debt settlement? Yes, it is the basics, but this is just the start. It’s part of an entire series on settling with your original creditors.

You have come up with the wrong impression of settling your credit cards in the time frame of being one to two months late. That is not going to happen. You need to wait typically until after your fifth payment has been missed in order to get the deals you need so that you can afford to pay them or even for some credit card banks’ last-ditch policies to kick in allowing you to settle at all.

About the damage settling debt does to your credit report it is probably worse than you read about, and also not the big deal you read about. Here is an article about how your credit reports can bounce back after settlement.

Your credit scores take a hit, but recover in quick order (all things considered). I see many credit recoveries within two years of completing your settlements. (You can see how your debts are affecting your credit scores by checking them for free on Credit.com.)

This is not about your credit scores, though. This is about the affordability of your debt. Something has to give, and it will be your credit score. Simply put, you cannot afford to finance anything right now anyway, and when you are back on firm financial ground, credit and financing options will be available, or can be planned for.

Making the Decision

And finally, the last two emails Beth and I exchanged.

She wrote:

Im going to follow your instructions and read the articles tomorrow just like you said. I understand that in my bad situation I need to focus on getting rid of the debt more than on my credit score.

I just called [card issuer 2] and they offered me 0% for 5 years:

2 cards combined = $11,035 currently min payment = $247, but could become 0% 5 years = $185.

Im still leaning towards settlement but the question now is:

o Do I miss payments for about 3-5 months and then negotiate a settlement? And let late payments impact my score, or

o Do I take the 0% for 5 years offer for now and in a few months negotiate a settlement? I would be saving a little and it goes toward my balance but I also understand Im wasting money making payments when in reality my plan is settlement later.

To which I responded:

You could likely get the five-year plans from all three of your particular credit cards at either zero interest, like [card issuer 2] offered, or really close to it. You could enroll in the plans and run a tight budget until your work situation is more stable. But like you pointed out, that is $500 set aside for four months. That is $2,000 ready to deploy toward what could turn out to be the better path, settlement or bankruptcy, a few short months from now.

All of your specific creditors tend to offer hardship and balance liquidation plans for the first 30 to 60 days of nonpayment (even longer from time to time). You do not need to decide on that right away.

Hard Choices May Ultimately Be the Better Ones

Beth is in a financial situation that would be a whole lot different if her employment were reliable. I am encouraging Beth to look more seriously at debt negotiation and bankruptcy than credit card consolidation for two reasons:

  1. Statistically speaking, she would be better suited to one of those options instead.
  2. In more than 20 years, I’m saddened by the people I see who waste money and time on what they perceive to be the better path to take, but whom ultimately never took the time to get informed about any other alternatives.

Hopefully this series drives home that there is a need to research and get informed, and also to reach out and talk to professionals in the different debt relief options out there.

More on Managing Debt:

  • 5 Tips for Consolidating Credit Card Debt
  • The Best Way to Loan Money to Friends amp; Family
  • Top 10 Debt Collection Rights

Image: iStock

Sign up for our weekly newsletter.

Get the latest tips advice from our team of 50+ credit money experts, delivered to you via email each week. Sign up now.

2015
05/12

Category:
Credit Cards

TAG:

COMMENTS:
Comments Closed

Pentagon Employees Misused Official Credit Cards On Gambling And Adult …

A recent audit of Pentagon employees spending habits revealed a rampant misuse of government credit cards, for purposes such as gambling and adult activities, including the use of escort services. The audit was ordered as part of efforts to eliminate corruption and better account for taxpayer dollars.

The findings of the report, titled Government Travel Charge Transactions, by the office of the inspector general for civilian and military employees, included evidence that Pentagon staffers used government-issued credit cards at casinos and to pay for escort services in Las Vegas and Atlantic City, Politico reports.

A Pentagon spokeswoman confirmed that audit results had unearthed corruption, but refrained from sharing more details until the complete report is published. Fox New quoted an official who said the number of people involved in such credit card purchases was unknown.

ABC News reported that the bulk of the credit card misuse occurred between July 2013 and June 2014. Defense Department cardholders spent a total of $952,258 at casinos and $96,576 on adult entertainment. According to an official, the audit traced 4,437 transactions at casinos and 900 transactions with businesses during that period.

A Pentagon official said the behavior neither “comports with our values nor represents the good service of vast majority or service members or DOD civilians.”

The purchases seemed to be in violation of the Government Charge Card Abuse Prevention Act of 2012, a law intended to prevent misuse of official credit cards. The law empowers federal agencies to heighten vigilance against such purchases with government-issued credit cards.

US Sen. Chuck Grassley said he was pleased that a law he sponsored became a catalyst for the audit. Previously, there have been cases of credit cards being used for online dating services, buying video iPods and splurging on lavish dinners and liquor, a report from the Government Accountability Office said.

The latest report notes that such issues are far from over, despite the efforts to curb them.  The Department of Homeland Security also cracked down on some Coast Guard personnel for charging more than $12,000 at a California coffee shop.

As for punishment in such cases, the Bureau of Land Management sacked a number of employees, and convinced others to quit, following disclosures that $800,000 in gift cards had been purchased with government-issued credit cards.

For feedback/comments, contact the writer at k.kumar@ibtimes.com.au

 

2015
05/12

Category:
Credit Cards

TAG:

COMMENTS:
Comments Closed

6 Credit Cards for New Grads

Credit Cards for High School Grads

High school graduates age 18 and older can apply for their own credit card accounts, but only under certain conditions. The Credit CARD Act of 2009 requires that applicants under 21 be able to show some proof of income so that they can repay any loan they take. So until they reach the age of 21, college students and other young adults will need some kind of job in order to receive a new credit card as the primary account holder. Thankfully, there are several cards offered with students in mind.

BankAmericard Credit Card for Students

This card offers a relatively low APR of 10.99-20.99% (depending on the applicants credit history) and has no annual fee. In addition, new cardholders will receive 0% APR promotional financing on new purchases for 15 months. This card is also a great choice for applicants who already have a checking or savings account with Bank of America.

Journey Student Rewards Visa From Capital One

This card features 1% cash back on all purchases, plus a 25% bonus on the cash back earned each month when cardholders make their payments on time. Other benefits include an automatic credit line increase after you make your first five payments on time, no annual fee and no foreign transaction fees.

Citi ThankYou Preferred Card for College Students

This version of Citis ThankYou Preferred card offers double points for dining and entertainment purchases, and one point per dollar spent elsewhere. Points can be redeemed for many different kinds of rewards including merchandise, gift cards, travel or loan repayments. In addition, new cardholders receive 2,500 bonus points when they spend $500 within three months of account opening, as well as seven months of 0% APR introductory financing. There is no annual fee for this card.

Get a Free Credit.com AccountSign up for Credit.com and get your FREE Credit Score Personalized Action Plan to help improve it. Free updated every 30 days. Get Started Now

Credit Cards for College Graduates 

Once graduates exit college, they will no longer be eligible for student credit cards, but they will still be able to qualify for several entry-level cards. Further, secured credit cards are a fail-safe option for graduates who have not yet built a credit history, or who had credit problems in the past and want to rebuild.

Wells Fargo Secured Visa Card

With this secured card, applicants submit a refundable deposit of at least $300 upon opening their account, which becomes their credit limit. After that, this card works much like a standard credit card. Cardholders receive a statement every month, and must make a minimum payment. In addition, cardholders will incur interest at 18.99% APR when they carry a balance. One of the nice features is a cellphone protection plan that covers theft or damage of up to $600 with a $25 deductible, so long as account holders pay their bills with their card. There is a $25 annual fee for this card.

Barclaycard Rewards MasterCard

This is an entry-level card that is offered to applicants with good credit. Cardholders receive double points for gas, grocery and utility purchases, and one point per dollar spent elsewhere. Rewards points are worth one cent each towards cash back, starting at 1,000 points for $10. There is no annual fee for this card.

Discover it

Discover is well known for it customer service, and the Discover it card has features to appeal to a broad segment of applicants, including new graduates. Cardholders earn 5% cash back on up to $1,500 spent each quarter at select merchants and merchant categories, plus 1% cash back on all other purchases. Cardholders also can have their first late payment waived automatically, and there is no annual fee for this card.

Before you apply for any credit product, you should always have a clear picture of where your credit scores stand. You can get free annual credit reports at AnnualCreditReport.com and you can get two of your credit scores for free every month on Credit.com.

Note: Its important to remember that interest rates, fees and terms for credit cards, loans and other financial products frequently change. As a result, rates, fees and terms for credit cards, loans and other financial products cited in these articles may have changed since the date of publication. Please be sure to verify current rates, fees and terms with credit card issuers, banks or other financial institutions directly.

At publishing time, the Journey Student Rewards Visa from Capital One, Barclaycard Rewards MasterCard, Citi ThankYou Preferred card and Discover it cards are offered through Credit.com product pages, and Credit.com will be compensated if our users apply for and ultimately sign up for any of these cards. However, this relationship does not result in any preferential editorial treatment.

More on Credit Cards:

  • 6 Smart Credit Card Strategies
  • How Secured Cards Can Help Build Credit
  • How to Get a Credit Card With Bad Credit

Image: Fuse

Sign up for our weekly newsletter.

Get the latest tips advice from our team of 50+ credit money experts, delivered to you via email each week. Sign up now.

Note: Its important to remember that interest rates, fees and terms for credit cards, loans and other financial products frequently change. As a result, rates, fees and terms for credit cards, loans and other financial products cited in these articles may have changed since the date of publication. Please be sure to verify current rates, fees and terms with credit card issuers, banks or other financial institutions directly.

2015
05/12

Category:
Credit Ratings

TAG:

COMMENTS:
Comments Closed

Moody’s reviews amendment for Eclipse Funding Trust, Series 2006-0139

New York, April 23, 2015 — Moodys Investors Service, at the request of US
Bank, has reviewed the proposed amendment dated as of April 23,
2015 (the Amendment) to the Series Trust Agreement relating to Solar Eclipse
Certificates, Series 2006-0139. The Amendment,
which extends the Designated Termination Date, will not have an
adverse effect on the credit quality of the certificates and therefore
will not, in and of itself and as of this time, result in
reduction or withdrawal of Moodys rating. Moodys does not express
an opinion as to whether the amendment could have other, non credit-related
effects.

This publication does not announce a credit rating action. For
any credit ratings referenced in this publication, please see the
ratings tab on the issuer/entity page on www.moodys.com
for the most updated credit rating action information and rating history.

Randy Matlosz
Analyst
Public Finance Group
Moodys Investors Service, Inc.
250 Greenwich Street
New York, NY 10007
USA.
JOURNALISTS: 212-553-0376
SUBSCRIBERS: 212-553-1653

Joann Hempel
VP – Senior Credit Officer
Public Finance Group
JOURNALISTS: 212-553-0376
SUBSCRIBERS: 212-553-1653

Releasing Office:
Moodys Investors Service, Inc.
250 Greenwich Street
New York, NY 10007
USA.
JOURNALISTS: 212-553-0376
SUBSCRIBERS: 212-553-1653

Moodys reviews amendment for Eclipse Funding Trust, Series 2006-0139

2015
05/11

Category:
Credit Cards

TAG:

COMMENTS:
Comments Closed

Forget Credit Cards, Medical Records Have the Money

Whether a data breach at a hospital, or healthcare insurance company, its rare a week goes by without a major story about vulnerable health data in the hands of the wrong people. Medical records have become an increasingly popular target for electronic theft more so than either retail or banking thefts. According to the Ponemon Institute, 1.3 million medical records were stolen in 2013 and the recently-publicized Anthem breach may add a whopping 80 million to the total for 2014-2015. Despite this reality, cloud adoption and electronic medical record use continues to explode, with organizations increasingly trusting new medical equipment, devices and third parties with incredibly sensitive data. The good news is that impact of most of these attacks can be mitigated with the right threat detection system and a proper response plan.

Why medical records?

Stolen medical records are far more damaging to victims than stolen credit card information. The wealth of information that data-intensive medical records contain makes them ideal targets for a wide array of misdeeds and one of the most valuable commodities on the black market. Even more alarming, its very lucrative to sell childrens identities and children make up a significant portion of medical record fraud.

Data from stolen medical records are used to open fraudulent credit accounts or to steal items such as prescription drugs or medical devices which are then sold on the gray or black markets. Unfortunately, victims of medical fraud often shoulder the responsibility to prove that they didnt purchase the thieved items themselves. As a result, the valuable nature of medical records has driven more cyber criminals to shift their theft operations from payment cards to medical records.

Compliance cant continue driving security

The increasing use of electronics and mobile processing, coupled with the federal governments recent mandate requiring the use of electronic medical records, is resulting in tunnel vision focused on speed and compliance. Healthcare isnt the only industry caught in this high-stakes catch-22. The financial industry, intent on driving faster payments processes through new, compliant technologies, overlooks how these payment technologies affect their overall business processes and security landscapes.

Its important to recognize that compliance and security are not the same. Compliance can be a motivator and budget driver for improving security. Ultimately, organizations need both to protect themselves from cyber attacks.

Initial steps to security

As your organization prepares to move healthcare data or processes to the cloud or any electronic system, you must develop a thorough understanding of what your business processes are designed to achieve and how those processes fit within your overall security plan. This is most often an overlooked step. Business processes and technology work hand-in-hand to achieve corporate success; not taking both into consideration creates security holes.

A separate set of problems exists for those healthcare organizations hesitant to update their medical systems and devices or that have older operating systems that are slow to receive patches. These updates take on a whole new level of concern when it relates to a device that supplies insulin, anesthesia, or other highly dosed care. Across all industries, unpatched code is the conduit for close to 50 percent of successful attacks, noted Hewlett-Packards Cyber Risk Report 2015. Additionally, insider threats, both deliberate and unintentional, contribute to an organizations vulnerability, and further exacerbate the if its not broken, dont fix it strategy common in medical devices and equipment.

No company should expect timely breach detection, or even the prevention of some breaches, if they simply check boxes on compliance report cards. Gartner Analyst, Anton Chuvakin explained, Many environments buy security tools for compliance and then not use them at all [not even for compliance], or only use them to the extent needed to satisfy the most creatively minimalistic interpretation of a particular mandate or regulation. Compliance is designed as a component of a bigger security plan, which is in turn designed to defend against attackers.

You will be attacked

Its true; even if your medical environment is well-defended, well-monitored, and handled by a team of information security professionals, you still operate in a highly targeted sector and you will be attacked at some point. Statistically, many of these attacks will result in successful breaches. For these reasons, organizations within the healthcare industry need a layered approach to security one that includes surveillance cameras for medical records.

Assess your endpoints, protect your data

The information security landscape is rapidly evolving and the healthcare industry is a key target for many different types of attacks. Mobile workplace policies, legacy systems and electronic record policies all add additional layers of complexity as IT professionals attempt to control and secure endpoint systems. And unfortunately we are seeing insufficient protection on endpoint devices. Healthcare organizations are under mounting pressure to secure endpoints and servers from data theft and meet industry compliance regulations to protect personal data like medical records.

Host-based software cant protect medical records from sophisticated hackers on its own. Security software (ie antivirus) is mandated for PCs and servers, but is generally inefficient against rapidly evolving malware and dedicated attackers. Perimeter network visibility doesnt adequately address insider threats, and lacks visibility into increasingly encrypted communications. Effective threat detection requires continuous monitoring and analysis of security data, with the endpoint as the key to minimizing the impact of breaches.

The good news is that you can improve your organizations protection for its medical records by assessing and supplementing endpoint security with processes and solutions that increase visibility and monitoring of endpoint activities and behavior. These can be efficiently applied across the organizations security infrastructure using compliance regulations as a starting point for your security processes. After all, your state-of-the-art EMR systems and processes are only as good as the security process that protects it.

About the Author:Brian leads Red Canary to deliver its mission of bringing world-class threat detection and response to every business. Prior to co-founding Red Canary, Brian incubated cybersecurity products at Kyrus, innovated big data processing solutions for the intelligence community at Northrop Grumman and started his career in cybersecurity at ManTech. He can be reached at brian@redcanary.co.

Edited by Dominick Sorrentino

2015
05/11

Category:
Credit Cards

TAG:

COMMENTS:
Comments Closed

Woman accused of opening, using credit cards under name of boyfr – WFSB 3 …

SOUTHINGTON, CT (WFSB) –

A woman is accused of stealing the identity of her boyfriends ex-wife and opening credit cards in the victims name.

Melissa Cocola, 39, of New Britain, allegedly took the information starting in March of 2014, according to Southington police.

They said Cocola opened credit cards and credit lines and then purchased items in the victims name.

Police said she bought more than $8,405 worth of things using three different credit cards.

Cocola was charged with second-degree identity theft, third-degree larceny, illegal use of a credit card, receiving goods obtained by illegal use of a credit card and false statement to procure the issuance of a credit card.

She was released on a court-set promise to appear and will face a judge in Bristol on May 4.

Copyright 2015 WFSB (Meredith Corporation). All rights reserved.