The identity theft allegations emerged late last year, when a Minnesota man named Alan Cooper told a Minnesota court he suspected Prenda Law named him as the CEO of two litigious offshore holding companies without his permission. Worried about exposing himself to potential liability for the firms' misconduct, Cooper asked the court to investigate the situation. Cooper's letter was spotted by Morgan Pietz, an attorney who represents "John Doe" defendants in California. He notified Judge Wright of the allegations.
"At a time when Apple, Mozilla and other tech giants are taking steps to prevent users from browsing the Web with outdated versions ofJava,Yahoo!is pushing many of its users in the other direction: The free tool that it offers users to help build Web sites installs a dangerously insecYahoo! has offered SiteBuilder to its millions of users for years, but unfortunately the tool introduces a myriad of security vulnerabilities on host PCs.SiteBuilder requires Java, but the version of Java that Yahoo! bundles with it isJava 6 Update 7. It’s not clear if this is just a gross oversight or if their tool really doesn’t work with more recent versions of Java. The company has yet to respond to requests for comment.
When money is stolen consumers are reimbursed for stolen funds and it is money mules, not banks or retail customers, who end up with the loss. Stealing passwords is easy, but getting money out is very hard. Passwords are not the bottleneck in cyber-crime and replacing them with something stronger won’t reduce losses. The article concludes that banks have no interest in shifting liability to consumers, and that the switch to financially-motivated cyber-crime is good news, not bad.
Article is online at computer.org site (hard-to-read multipage format)
or pdf at author’s site.