Friday, March 4, 2011

Book Review: Kingpin

[From review]
"One Eastern European hacker called King Arthur stole $1 million a week from Citibank customers. (Although Citibank wasn’t alone — the CVV mistake cost US financial institutions $2.75 billion in one year.)
[. . .]
Throughout his career, Butler — who was eventually arrested by the FBI — stole 1.8 million credit card accounts from over a thousand banks, leading to credit card company losses totaling $86.4 million.

Despite this, the corporate negligence that enabled these losses not only continues, but, according to Poulsen, will never be fixed, as American corporations have deemed these losses “acceptable.”

The Iceman stealeth
New York Post
Last Updated: 3:56 AM, February 27, 2011
Posted: 10:48 PM, February 26, 2011

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