In January, U.S. retailer TJ Maxx revealed that more than 45 million credit cards were stolen from company servers. Between the Federal Trade Commission launching an investigation into the theft, and a number of banks filing a class action lawsuit against the retailer, BankInfoSecurity.com offers an educational webinar for financial institutions on data protection.
Princeton, NJ (BankInfoSecurity.com) May 2, 2007 – The TJX data breach is just the latest episode in what seems to be the beginning of an epidemic of credit and debit card/identity theft breaches. Financial institutions face reputation loss and waning customer confidence in the event of a massive data breach – even if it is technically outside of their control. The ensuing costs associated with reissuing credit and debit cards, as well as reassuring customer privacy can be overwhelming.
In response to this event, BankInfoSecurity.com’s webinar “Preventing TJX Type Data Breaches” will offer “lessons learned” from TJX and other previous data breaches to improve data protection at financial institutions. Industry veterans will outline data protection regulations that financial institutions face – as well as what regulators expect financial institutions to have in place for best practices in data protection. Presenters include Susan Orr, a former FDIC regulator, and William Henley, Director of IT Risk Management at the Office of Thrift Supervision.
Despite heavy regulatory agency guidance that strongly recommends the appropriate security controls to protect information, compliance regulations designed to protect financial institutions and their customers failed to stop the TJX breach. While the Payment Card Industry Data Security Standards issued by the major credit card companies exist, financial institutions remain carrying a majority of the losses, including loss of customer confidence.
Bonus Added: Live Question and Answer Session – Following the presentation, attendees of this session will be able to ask questions from the speakers, as well as listen to information security compliance concerns from financial services organizations throughout the country. BankInfoSecurity.com will be available to answer any specific questions from attendees on issues related to data breaches or security over customer data.
To register for this webinar, visit www.BankInfoSecurity.com or click to Preventing TJX Type Data Breaches.