When a database breach occurs, consumer notification continues to be a public problem, and it's time for the federal government to step in, says Linda Foley, co-founder of the non-profit Identity Theft Resource Center.
"I am hoping for some turn around, but overhang in troubled real estate, unemployment and debt levels are negatives," says Christie Sciacca, former FDIC official.
This week's top news and views: Mobile and online P2P services offer banks and credit unions a competitive edge, and a new Aite report proves internal fraud is more damaging than most banks realize.
Mobile and online P2P services offer banks and credit unions a competitive edge, and a new Aite report proves internal fraud is more damaging than most banks realize.
There have been 58 reported banking-related data breaches so far in 2010, according to the Identity Theft Resource Center -- slightly fewer than the total of 62 breaches in 2009.
"What's interesting is that the criminals are now using cryptographic technology to protect the card information they steal, and that's posing challenges for detection and law enforcement," says Jeremy King of the PCI Security Standards Council.
Learn in detail the current financial scams in circulation from phishing and lottery scams, ATM and credit card skimming, among many others.
Learn proactive defenses to prevent consumers and employers from falling victim.
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