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?
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.
What's the best strategy for communications after a data breach, like the one suffered by Global Payments Inc.? Bob Carr, CEO of Heartland Payment Systems, discusses what to say in the weeks following a breach.