In its second formal statement about its data breach, payments processor Global Payments Inc. says this incident is confined to North America and involves fewer than 1.5 million payment cards.
"We are making significant progress in defining and rectifying the event," says Paul R. Garcia, CEO of Global Payments Inc., discussing the breach he says may have exposed 1.5 million payment cards.
In the wake of the Global Payments Inc. card breach, ID theft expert Neal O'Farrell says banks and credit unions must be proactive with outreach to customers. What should institutions' messages include?
"If they can do it against RSA, that makes most of the other companies vulnerable," says Army Gen. Keith Alexander, the military's Cyber Command commander and National Security Agency director.
Payments processing firm Global Payments Inc. has confirmed its role in a data breach that could prove to be the largest such incident since the Heartland Payment Systems breach.
The Global Payments Inc. breach could be one of the four largest card-related incidents in recent years. Here's a look at three other major payment card breaches.
From 2010: When he first learned of the full magnitude of the Heartland Payment Systems data breach, Heartland CEO Bob Carr had one overriding thought: "Can we survive this?"
The Paul Allen card breach reiterates a concern financial fraud experts have been screaming about for years: Socially-engineered schemes that compromise employees. So, what can institutions do about them?
Payment card fraud remains a top concern for banks and credit unions. And Randy Vanderhoof, executive director of the Smart Card Alliance, says mobility can help address fraud incidents and losses.
Microsoft Corp. says it led a team that has successfully disrupted command and control servers used to run some of the world's most damaging variations of botnets proliferating the Zeus malware.
EMV is coming to the U.S., and card brands are now leading the charge. The sooner card issuers, acquirers and merchants initiate EMV migrations, the better, says Stephanie Ericksen of Visa.
What do the latest international fraud arrests prove? "Organized crime isn't running, but they are definitely looking over their shoulders," says Robert Siciliano, a financial security expert.
Customer awareness is important, especially as a fraud detection/prevention tool. Read how one sharp-eyed UPS driver recently helped foil an ATM skimming scam at a bank in New York.
Earlier this month, I had the chance to attend RSA Conference 2012, which always reminds me how fluid our industry is, and how important it is to stay educated and abreast of change.
What emerging security challenges will new mobile devices and platforms pose for banks and credit unions? Brian Pearce and Amy Johnson shed light on Wells Fargo's approach to unique retail and commercial risks.
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