There have been 58 reported banking-related data breaches so far in 2010, according to the Identity Theft Resource Center -- slightly fewer than the total of 62 breaches in 2009.
Federal regulators and industry experts share their views about the top 4 regulatory issues of the new year, and an online breach perpetrated with an SQL injection leads hackers to stored data for 110,000 credit cards.
2010 Timeline of data breaches involving U.S. financial institutions. See the type of breaches, when they occurred and how many records were compromised.
"Many institutions only know about fraud when they get notified by the customer, and that is not indicative of an industry that is really trying to address the problem." George Tubin, TowerGroup
Gartner's Avivah Litan says emerging card-fraud schemes such as 'flash attacks' highlight the need for stronger cardholder authentication and transactional analytics.
A panel of regulators and industry experts weighs in on the top 4 regulatory issues of 2011, and card skimming attacks get more sophisticated the world-over.
"What's interesting is that the criminals are now using cryptographic technology to protect the card information they steal, and that's posing challenges for detection and law enforcement," says Jeremy King of the PCI Security Standards Council.
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