Links in “Technology”
- Trade Associations Counter Retailers’ Data Breach Blaming
Letters to Congress seek to make clear that last year, 77 percent of data breaches occurred at healthcare facilities and other retailers and only 4 percent at financial institutions, despite financial institutions being on the hook for reimbursements and card replacements. See also this post. [2/6]
- FinCEN Sets Sights on Virtual Currency
Article highlights expanding targeted focus of Financial Crimes Enforcement Network (FinCEN) on virtual currency with reach expanding to those directly involved in the currency. Key tool is Suspicious Activity Reporting failure. [2/6]
- ABA: Target Breach Has Already Hit Banks with $150 Million in Card Replacement Costs Alone
ABA tells Congress that a preliminary survey of banks impacted by the Target data security breach indicates that 15.3 million debit and credit cards have been replaced to date at a cost of $5 to $15 per card. [2/5]
- Another Breach Casualty: White Lodging Services
Hospitality company that manages 168 hotels in 21 states may have suffered a data breach that lasted throughout most of 2013. [2/5]
- Next Frontier in Security War: Mobile Commerce Fraud
Study finds more retailers accepting mobile payments, but rely on fewer fraud solutions in that channel. [2/5]
- FTC Seeks National Law on Data Security
In testimony before Senate Judicial Committee, FTC seeks expanded powers and enforcement capacity (penalties)Â to reduce security breaches and promote compliance with UDAAP, GLBA, FCRA, and COPPA. FTC further seeks national law requiring controls and consumer notification of security breaches. [2/5]
- Threat of the Week: The ATM XP Timebomb
On April 8th Microsoft will stop issuing security updates for Microsoft XP. Doesnât sound like a big deal since most of us left Microsoft XP behind long ago. However, while we may have left Microsoft XP behind our ATMs havenât and this is a potential time bomb. [2/4]
- A Look Into the Gray Areas FFIEC Social Media Guidance
FFIEC's guidance on social media includes major gray areas that need to be addressed by institutions engaging in social media. [2/4]
- Data Security as a Hot Topic: Will it Mean Tighter Security or Even Smarter Attacks?
Recent high-profile card and password breaches have made data security a hot topic. Will this spur banks to improve data security or make them an even more attractive target to bad players? [2/4]
- FTC Testifies on Data Security before SBC
FTC testifies before Senate Banking Committee on agencyâs ongoing efforts to promote data security through civil law enforcement, education, and policy initiatives. Notes 50 data security settlements reached for unreasonable data security measures and related weaknesses. Expect increase on IT security for 2014. [2/4]
