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It is a case that boggles the mind the -- -- for more than a 130.
Billion credit and debit cards was stolen.
In -- largest case of identity theft in US history.
Just what's at stake here joining us now it up Fox Business exclusive this cyber security expert talk Kellerman.
Vice president of core security technologies and a member of president Obama's commission on cyber security welcome Tom thank you for being here.
Thank you for government well this is this is just.
It boggles the mind truly we we've been saying it all along a 130 million numbers stolen by some guy with just a high school education and two Russians.
What is behind the story here that we're missing.
This story represents.
Really the tip of the iceberg.
-- organized criminal syndicates that have moved heavily into the -- space.
Hundreds of billions of dollars have been lost in the financial sector over the past five to ten years as a relates to these hacker crew is penetrating systems.
And compromising data and then selling the state on the black market of the Internet relay chat rooms in the shadow economy that is very robust and Eastern Europe.
Well here's what's totally frustrating one of these hackers was.
Arrested at one point but he was let go because he was a government informant and clearly that doesn't help any of us because he went on with the same behavior.
Do we need to change policy it is the Obama administration moving toward that.
The law enforcement entities have there.
Hands tied because they don't have enough resources or personnel to really tackle this global transnational criminal phenomenon.
This group really represents and is symbolic of a modern day.
A Dillinger gang wherein you have literally have hundreds of thousands of hackers around the world the target financial institutions and corporations for.
Intellectual property -- the steps to financial data.
Yes the Obama administration needs to empower.
And only the law enforcement community but these two created cyber czar who will oversee the efforts of the US not to -- we're gonna have an accurate there was a whole news conference that we covered and then we brought him.
The people from but McAfee who brought -- the CEO and he was extraordinarily well spoken and we thought I even said are you going to be the -- resorts and not me.
Why have we not -- somebody yet.
I'm not -- -- have the exact political nature of the problem here but.
The reality is there's too much turf war going on in between agencies and between countries on these issues and we need real leadership from the White House.
One that is politically neutral OK on the consumer level what can viewers do to protect themselves anybody watching right now what should they be doing right now.
Well first saw this expect of the financial -- -- that they do business lead and the third parties that they outsourced to.
Conduct web application and penetration testing of their assets before they're exploited by hackers.
The real problem here is not the consumer but it's the corporations in the financial decisions are not testing their systems.
For vulnerabilities before those vulnerabilities are actually exploited by hackers -- are pretty big names from home these numbers were stolen are they not up to speed on the stuff.
But the problem has been for a long time that whether that's the primary financial station is actually testing the security of the third parties that -- outsourced to elect heartland.
May not be.
And the reality is that our needs to be paradigm shift here we need to really.
Understand the attackers perspective before they infiltrate systems and to that point it is important to realize.
This hacker crew was inside of those banks systems.
For over two years for over two years of time they were in those systems and selling wholesale and credit card and debit card information globally.
I feel great now thank you Tom Tom -- vice president that core security technologies thank you for talking about the.
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