Links in “Technology”
- Second Credit Union Files Suit Against Target
Pennsylvania credit union First Choice FCU has become the second credit union to file suit against Target for its massive data breach. The $38 million-asset credit union stated that it had to cancel and reissue 75 cards and faces losses for fraudulent charges, interest and transaction fees and other costs for monitoring and preventing fraud. [2/3]
- More on the Yahoo Hack Attack: May Enforce Two-Factor Authentication
Yahoo may force users to employ second sign-in verification by sending a six-digit code to a user's cell phone. [2/3]
- Bitcoin: Potential Ally or Threat to Banking Industry
Recent news that New York plans to regulate Bitcoin and other digital currencies and that the CEO of a Bitcoin exchange was arrested on money laundering charges suggest that bankers should be keeping an eye on the viability of digital currencies and considering how (and if) they should approach them. [2/3]
- FinCEN Rules on Aspects of Convertible Virtual Currency (Bitcoin)
FinCEN provides two rulings associated with convertible virtual currency (i.e., Bitcoin). Rules note that self-"mining" for one's own purpose or purchasing and selling as investment for company's own benefit do not cross into definitional money transmitter under BSA. [1/31]
- Yahoo Email Hack and the Implications for Your Customers
With an undisclosed number of Yahoo email accounts compromised, it may be a good time to reminder customers about some fundamental steps to protect themselves, including never using the same password on multiple sites or services. [1/31]
- Metsger Advocates Chip-and-PIN Technology for Card Security
In his first article for the NCUA Report, new NCUA board member, Richard Metsger, wrote that the current security technology is too vulnerable to security breaches and that the Target breach may bring enough attention to this issue to move the industry towards greater security measures, such as the chip-and-PIN technology. [1/30]
- Bankers Group Offers Consumers Tips on Keeping Data Private
ICBA offers tips to consumers on proactive security measures. [1/29]
- TSYS Says It Was Shielded from Recent Retailer Data Breaches
Total System Services says it was not involved in any of the recent data breaches at Target and other retailers. [1/29]
- CFPB Advises Consumers on Industry Data Breaches
CFPB publishes advisory to help consumers protect themselves in the wake of the recent breaches of payment card and other data. Promotion of key actions in event of compromised information provided. [1/28]
- Is Bitcoin Good or Evil?
Economics professor presents why Bitcoin really matters. [1/28]
