"Everyone plays a role in protecting card data," says PCI Council head Bob Russo, offering the group's first public response to criticism from Verizon's new report on the state of PCI compliance.
Successful wire fraud attacks cause losses averaging between $100,000 to 200,000 per victim. So, it's not surprising that banks are being sued by business customers for alleged failures to prevent fraud via ACH.
BofA's announcement to charge customers for debit transactions is likely just the beginning, as banks across the U.S. react to debit interchange cuts that take effect Oct. 1.
Major breaches involving lost or stolen storage media point to the need to take better security precautions when storing massive amounts of patient information.
It's been well over a year since the passage of the Dodd-Frank Wall Street Reform and Consumer Protection Act. How should banking institutions prepare for the hundreds of new regulations expected to come as a result of this landmark legislation?
About 4.9 million patients treated in San Antonio area military treatment facilities since 1992 have been affected by a health information breach involving the theft of backup tapes for electronic health records.
With the announcement of a breach affecting 4.9 million patients in the Defense Department's TRICARE healthcare program, there have now been five incidents that each affected at least 1 million individuals since the HIPAA breach notification rule took effect.
The Department of Homeland Security becomes the first federal agency to award a task order using a General Services Administration's blanket purchase agreement for an infrastructure-as-a-service, cloud-computing offering, says GSA Assistant Commissioner Mary Davie.
Melissa Hathaway doubts Congress will enact a cybersecurity law. "I fear we will continue to watch the bills 'sit here and wait, while a few key congressmen sit and debate. It's not easy to become a law," she writes, citing a kid's jingle.
Discussing Verizon's new report on the state of PCI compliance, PCI expert Jen Mack says payment card security today is "disappointing," and global merchants are at serious risk of new data breaches.
The certificate authority system is flawed. It's like the Wild West, disjointed and unregulated, where no enforcement exists for standardized accountability.
Consumers say convenience outweighs risk when it comes to banking online. And the ABA's Nessa Feddis says online banking is actually more secure than most industry pundits suggest.
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