Months before announcing the Heartland Payment Systems (HPY) data breach, company CEO Robert Carr told industry analysts that the Payment Card Industry Data Security Standard (PCI DSS) was an insufficient protective measure.
This is the contention of a new master complaint filed in the class action suit against...
Bogus security software applications are among the types of electronic crimes that grew 585 percent over the first half of this year, according to a new study.
The Anti Phishing Working Group's (APWG) latest report shows that rogue anti-malware programs, infected computers and crimeware broke new records in the...
Interview with Shirley Inscoe and BC Krishna, Authors of Insidious: How Trusted Employees Steal Millions and Why It's so Hard for Banks to Stop Them
Insider fraud has always been a risk for banking institutions, but this risk has only grown in the past year. And so has the size of the crimes.
Shirley Inscoe and...
Check fraud, a decades-old problem, continues to grow despite a decrease in the number of checks written and paid each year. Current defenses have major shortcomings that allow check fraud to flourish and losses to mount as high false positive rates plague even the best efforts of fraud analysts and investigators....
Since the announcement of the Heartland data breach in January, the merits of the Payment Card Industry Data Security Standard (PCI DSS) have been questioned, and Bob Russo has led the defense.
In an exclusive interview, Russo, general manager of the PCI Security Standards Council, discusses:
Why end-to-end...
Many people are now considering healthcare for the first time. Dr. Robert Mandel has dedicated his entire career to the field.
Now senior VP of health care services for BlueCross BlueShield of Tennessee, Mandel takes time to discuss:
His organization's healthcare and privacy concerns;
Healthcare trends he's...
It's been an interesting year for the Payment Card Industry Data Security Standard.
In the middle of it all is a debate among payment card companies, banking institutions, merchants, industry groups and even congressional leaders, questioning the merit of the standard and all hinting at the same open question: What...
Trojans. Harvesters. Mules. They're the backbone of the underground fraud economy, which is "vibrant" and worth billions, according to one international researcher.
And don't be swayed into a false sense of security by the recent indictment of Albert Gonzalez, who is charged with masterminding the Heartland Payment...
Preliminary legal hearings have begun in the class action suit against Heartland Payment Systems, the U.S.-based payments processor that was breached in 2008
More than 30 financial institutions from 22 states have joined the lawsuit against Heartland, which is the largest data breach on record, with a reported 130...
Massachusetts-based retailer TJX says it has agreed to pay $525,000 to settle a putative class action suit from several banks related to the massive security breach that resulted in the theft of more than 45 million credit and debit card numbers.
Prosecutors in New York City have indicted five men from Eastern Europe in a wide-ranging credit card fraud operation that allowed the accused to gain more than $4 million from 95,000 stolen credit card numbers.
The targets are getting bigger, the fraudsters bolder, and we all have a whole lot more at stake to lose.
This is the message from Mary Monahan, Managing Partner and Research Director at Javelin Strategy & Research. In a discussion of current data breach trends, Monahan touches upon:
How breaches in 2009 are...
Cybercriminals are on the attack, and as a recent FDIC alert shows, business banking accounts are in their crosshairs. Learn first-hand how one leading business bank fights back by:
Spotting fraudsters before they commit crimes;
Educating customers about fraud prevention;
Balancing security needs with costs and...
There have been 356 data breaches so far in 2009, according to the Identity Theft Resource Center (ITRC). And 46 of those breaches have involved financial institutions - up from 34 at this same time last year.
In reviewing these 46 incidents (see interactive map w/details of each breach), one finds goods news and...
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