While it's hard to get a handle on just how many consumers were affected by the Heartland Payment Systems (HPY) data breach, the total number of institutions now reporting card compromises is at 656.
The fraud fight is getting nastier by the minute, say experts familiar with the new schemes - and some old ones with new wrinkles -- being perpetrated by criminals against financial institutions and their customers. Here are 13 of the most prevalent ruses.
According to the 2009 Banking Information Security Today survey, banking institutions - despite the economy - are investing in new banking services, i.e. mobile banking and remote capture.
To gain further insight into spending trends, we spoke with Christine Barry, research director with Aite Group, on:
Mobile...
A federal judicial panel will hear arguments next week on whether to consolidate the class action lawsuits brought against Heartland Payment Systems (HPY) by financial institutions. The Judicial Panel on Multidistrict Litigation in Louisville, KY will hear the arguments next Wednesday, according to Benjamin Johns, one...
MasterCard will use a cryptographic countermeasure technology in its smart credit cards to protect them from being tampered with or read by hackers. Cryptography Research, Inc. and MasterCard Worldwide announced that they have signed an agreement relating to Cryptography Research's patent portfolio covering...
The Heartland Payment Systems (HPY) data breach has already cost the card processor millions in fines from Visa and MasterCard.
This news was revealed by CEO Bob Carr in Heartland's recent earnings call, wherein Carr said the much-publicized breach has already cost the company $12.5 million.
The federal judge who heard the collective civil claims filed against the Hannaford Bros. supermarket chain issued his opinion on the 21 claims on Tuesday in Portland, ME. All but one of the 21 civil claims filed against the supermarket giant for alleged failure to protect consumers during the company's network breach...
The announcement by Heartland Payment Systems (HPY) that it will offer its merchants end-to-end encryption capabilities is seen as a positive step by industry experts. Yet, these same experts also warn that this measure will not solve all of the security issues that Heartland and other payment processors face from...
Heartland Payment Systems (HPY) has made it back onto Visa's list of PCI DSS Validated Service Providers. The announcement comes almost six weeks after the credit card payment processor was taken off the list and four months since it announced its networks had been breached and credit card information stolen.
Sun Trust, a Southern banking corporation, ($179 billion in assets) mailed its Florida customers letters this week regarding SunTrust bank cards that were compromised in the Heartland Payment Systems breach that was first made public on January 20. The bank has 551 branches in the state and a total of 1,694 branches...
Ten years ago, the Department of Justice was prosecuting mischief-makers for defacing web pages. Today, federal prosecutors are targeting international crime rings behind such high-profile hacks as retailer TJX, which exposed tens of million of consumers' credit accounts.
A U.S. District Court judge will decide in the next few days whether the Hannaford Bros. data breach class action suit will go to trial.
Judge D. Brock Hornby heard final arguments on April 1 in the U.S. District Court, Portland, ME on the class action suit brought against the supermarket chain that had a data...
In the wake of the Heartland Payment Systems data breach, a new study shows that a majority of U.S. businesses, including financial institutions, are under continued attack via payments fraud.
Economic conditions and the growth of electronic payments have opened up new opportunities for payment fraud, according to...
Despite the Heartland Payment Systems (HPY) data breach and other noted compromises, Visa staunchly supports the Payment Card Industry Data Security Standard (PCI DSS).
This is the message from Adrian Phillips, Visa's Deputy Chief Enterprise Risk Officer, who in an exclusive interview hammers home the credit card...
TJX, Hannaford, Heartland Payment Systems. We know the names of the most infamous data breaches, but what have they really cost financial institutions? And what types of fraud should institutions look out for in the months ahead?
Perimeter eSecurity recently conducted a study of financial institution data breaches....
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