Sen. Charles Schumer's amendment to Regulation E, which aims to give local governments and school districts the same level of protection as consumers, could set an adverse precedent for financial institutions, says Doug Johnson, vice president and senior advisor of risk management for the American Bankers Association.
The same approach governments and businesses employ to protect individuals from the dangers of secondhand smoke could be applied to safeguard cyberspace, says Scott Charney, Microsoft's vice president of trustworthy computing, engineering excellence and environmental sustainability.
Card-issuing banks struggle to find the balance between consumer satisfaction and protection. And in the wake of the Michaels breach, the financial industry knows it has to make a change. One industry expert says stronger card authentication is the answer, and he favors chip-based or EMV-like solutions.
The recent Sony and Epsilon breaches sent a strong reminder that companies lack transparency and aren't prepared to respond to a breach once it occurs, says Kirk Herath, Chief Privacy Officer at Nationwide Insurance Companies.
"Ethical hacking" - is the term an oxymoron, or is it one of today's necessities in the fight against cybercrime? Jay Bavisi, president and co-founder of the EC Council, feels strongly about why we need ethical hackers more today than ever before.
Two stories stand out when I look back on the month of May: the POS PIN pad swap scheme that hit Michaels crafts stores in more than 20 states and the insider job at Bank of America that led to $10 million being stolen from some 300 customer accounts.
From Epsilon to Sony, recent data breaches and legislative trends tell a dramatic story about the turbulent state of privacy worldwide, according to J. Trevor Hughes, head of the International Association of Privacy Professionals.
An inside breach at BofA that led to more than 300 compromised accounts signifies growing concerns about internal threats. But experts say organizations can implement strategies to detect - and in some cases even predict - internal fraud.
A July trial date has been set for a pay-at-the-pump skimming scheme that allegedly led to the theft of more than $150,000 from six Hawaii financial institutions, highlighting the growing fraud vulnerability of self-service card payments.