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 Chicago consumer's federal lawsuit against Michaels raises questions about card-fraud liability, highlighting the blurring line between merchants and card issuers in the wake of a payments breach.
Experts say card issuers picked up on the Michaels card breach by employing strong transaction monitoring and behavioral analytics, proving that cross-channel detection tools are the best ways to curb growing card-fraud schemes.
Michaels Stores Inc. says POS PIN pads at nearly 90 stores in 20 states were tampered with, exposing debit and credit cardholders to fraud. Now the chain says it is replacing PIN pads at the majority of its 964 U.S. stores.
Police and the U.S. Secret Service are now investigating a series of fraud incidents involving Chicago-area customers of the Michaels craft store chain, which appears to be another victim of POS device tampering.
"The phishing only works if the consumer participates; they have to click on something; they have to open something," says Neal O'Farrell of the Identity Theft Council. "So, based on that assumption, shouldn't we be doing more to educate them?"
Key questions: What impact - if any - will the recent RSA and Epsilon data breaches have on the FFIEC's pending authentication update? And when will this long-awaited banking guidance finally be released?
When it comes to authentication and identity management, state governments face challenges and vulnerabilities of their own making, says Brent Crossland of Entrust.
Farzad Mostashari, M.D, the new head of the Office of the National Coordinator for Health Information Technology, appears to be well-qualified for the role.
The Epsilon e-mail breach has opened the door for what experts fear could be 'massive spear phishing attacks.' Here are 7 security tips to help organizations protect themselves and their customers.
The Epsilon e-mail breach has opened the door for what experts fear could be 'massive spear phishing attacks.' Here are 7 security tips to help organizations protect themselves and their customers.
"We really need to speak the language of business and focus less on the language of IT, and that involves risk management" Iowa CISO Jeff Franklin says. "You really need to target those resources to your most critical systems."
Three recent breach incidents, each involving the loss or theft of back-up drives, illustrate that some organizations are doing a better job than others in informing consumers about the steps they're taking to prevent more breaches.
Bank of America branches in Greater Detroit were reportedly flooded this past weekend, after several BofA debit cardholders noticed fraudulent transactions on their accounts. A BofA spokesperson says "There was no breach at Bank of America."
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