Too many banks and credit unions are being narrow-minded in their approaches to FFIEC Authentication Guidance conformance, by focusing on commercial accounts and neglecting retail accounts, one ACH fraud attorney says.
International law enforcement agencies last week touted the takedown of 36 websites that were used to sell stolen debit and credit data for more than 2.5 million accounts. But how much of an impact will the takedown ultimately have on card fraud?
Partisan bickering surrounding a bill aimed at protecting the nation's critical IT infrastructure is the likely reason the measure will not come up for a vote in the lower chamber this week, as representatives debate four other cybersecurity bills.
Rep. Dan Lungren introduced an amendment to his onetime bipartisan cybersecurity bill that won only the backing of fellow Republicans with Democratic members of the House Homeland Security Committee objecting to the changes.
A court has granted final approval of the settlement of a class action lawsuit against University of Hawaii stemming from five data breaches over a three-year period that affected nearly 96,000 individuals.
To expose security flaws in Iran's banking system, one hacker took an extreme step: He stole details on 3 million debit accounts. One fraud expert warns that similar hacktivist attacks are likely worldwide.