Links in “Technology”
- Chip and PIN Smartcards Would Not Have Stopped Target’s Breach
Smartcards, with their microchips on their face and the required four-digit PIN code for in-person purchases, may be long overdue in this country, but even they wouldn't have prevents the theft of shoppers' credit card information in the latest breaches at Target and Neiman Marcus. [1/28]
- Treasury Secretary: Bitcoin’s Anonymity Offers Places for People to Hide
Treasury Secretary Jacob J. Lew calls for more time to assess Bitcoin to make sure it does not become an avenue to fund illegal activities, such as terrorism. [1/24]
- Retailers Blame Bankers for Security Breaches, Bankers Strike Back
ICBA expresses its outrage over National Retail Federation's letter blaming the financial services industry for recent high-profile data breaches, says the NRF should focus its efforts on responding to the harm the security breaches have done to consumers and their financial institutions. [1/23]
- Is FDIC-style Insurance on the Horizon for Bitcoin?
Companies seeking ways to move digital currency into the mainstream with FDIC-like backing, such as a London company that offers Bitcoin accountholders insurance through Lloyd's of London or Boston company that plans to allow investors to insure bitcoins through derivatives trading. [1/23]
- EMV Adoption by 2015?
Industry observer spells out three reasons Europay, Mastercard, and Visa (EMV) chip-and-PIN cards that are used in much of the world will be adopted by U.S. market by 2015. [1/22]
- Selling Change and Innovation Internally First
Panelists at an international banking conference speak on how banks, as they press forward with social networks, cloud computing, and other technological innovations, must ensure that the changes are thoroughly transmitted to all employees. [1/21]
- Incentivize Data Security by Holding the Breached Responsible
In the wake of recent data security breaches of retailers such as Target, ICBA urges Congress to allocate liability to incentivize maximum security by making the party that suffers a data breach responsible for fraud losses and the costs of mitigation and restitution when consumer information is compromised. [1/20]
- Bankers Seek to Remind Congress Who Provides Relief in Case of Target-like Security Breach
ABA letter to congress points out that when a retailer like Target speaks of its customers having âzero liabilityâ from fraudulent transactions, it is because our nationâs banks are providing that relief, not the retailer that suffered the breach, and that policymakers should be cautious not to embrace any âoneâ solution thatâs being pushed by some as the answer to all concerns. [1/17]
- What the CU Industry Can Learn from the Blu-ray/HD DVD War
As payment systems evolve, the credit union industry needs to be a driving force in the process, rather than abdicating responsibility in favor of the Federal Reserve Banks, which would be akin to letting the government step in and mandate a winner in the VHS/BETA Max and Blu-Ray/HD-DVD wars. [1/17]
- Target Breach Scope Nearly Doubles
Target now says as many as 70 million were affected by its security breach. [1/13]
