Ebay Hacked!

May 21, 2014
Case Financial General News Photo

First it was Experian. Then is was Target. Then the Heartbleed Bug. This time it’s Ebay’s turn.

Marking the 4th large data breach in the last 12 months, the internet-based merchandise retailer Ebay is asking its customer base to change their passwords after hackers managed to infiltrate one of their main informational databases a few months ago.

In a posting on the Ebay’s website, the corporation stated that a cyber-attack “compromised a database containing encrypted passwords and other non-financial data.”

The informational database was initially hacked “between late February and early March,” but eBay didn’t detect a problem until about two weeks ago, the statement said.

Ebay is telling it customer base that it has seen “no evidence of unauthorized access to financial or credit card information.”This is largely due to it’s being stored off premises.

“Changing passwords is a best practice and will help enhance security for eBay users,” Ebay’s representative stated. If shoppers use the same password on other sites, the company urged they change those as well.

Ebay is currently “Working with law enforcement and leading security experts, the company is aggressively investigating the matter and applying the best forensic tools and practices to protect customers,” the company posting said.

CLICK HERE to read more on the cyber-attack from eBay’s website.

While this news may not have a direct impact on financial institutions in general, it should serve as a continuing sign of an emerging online and cyber crime trend that could effect Online Banking, ATM, and Data Processors in the near future. The best way to prevent unauthorized access to your organizations protected assets and electronic information is to have a solid Network Security Plan in place that includes regular Network Security Audits and Penetration Tests to identify and mitigate any and all threats to your organization.

If you would like additional information on Case Financial’s Network Security Auditing or Penetration Testing Services please feel free to contact us