Class action lawsuits that banking institutions filed against Target Corp. in the wake of the retailer's massive breach are being consolidated. The suits seek recovery of expenses, such as the cost of re-issuing affected payment cards.
As mobile banking adoption rapidly grows this year, financial institutions need to identify and fill security gaps, says Aite Group analyst Julie Conroy, a featured speaker at the May 14 Fraud Summit Chicago.
Third-party risks and the Fed's plans for emerging payments will be highlighted at ISMG's Fraud Summit Chicago on May 14. How banking institutions and retailers are expected to respond to new risks posed by external parties will be a focus for our keynote panel.
Card breaches at retailers such as Target and Neiman Marcus will likely be catalysts for improved cyberthreat intelligence and information sharing across the banking and retail sectors, says Mike Braatz of ACI.
Police have withdrawn their allegation that a man arrested for fraud in Georgetown, Texas, also may have been involved in the Target Corp. data breach last December that impacted millions of customers.
Banking institutions that are considering whether to accept virtual currencies, such as Bitcoin, must consider the risks involved, including money-laundering. Learn about the very latest Bitcoin developments.
Using technology to devalue card data, and leveraging data analytics, are essential to efforts to crack down on fraud, Visa's Ellen Richey said in her keynote presentation at the San Francisco Fraud Summit.
Industry analysts are debating why it took retailer Michaels nearly three months to confirm a breach of its point-of-sale network, and they're asking if the breach is linked to others, including those at Target and Neiman Marcus.
Verizon's latest annual breach report shows that Web application attacks increased more than malware-fueled point-of-sale intrusions in 2013, says analyst Dave Ostertag, who provides an overview of the report's findings.