Mitigating card risks associated with retail malware attacks and POS vulnerabilities is a focus of updates to the PCI Data Security Standard, say Bob Russo and Troy Leach of the PCI Security Standards Council.
Version 3.0 of the Payment Card Industry Data Security Standard, to be released later this year, will include a focus on the standardization of compliance assessments, says Bob Russo of the PCI Security Standards Council.
Two more guilty pleas in a $200 million card fraud scheme highlight why banks need to ensure their identification verification policies are consistently applied and that customers are continually vetted and profiled.
In light of recent retail breaches, courts are likely to start holding retailers more accountable than they have in the past for financial losses that result from fraud, predicts analyst Al Pascual of Javelin.
A malware attack that exploited a point-of-sale vulnerability of a select group of Kentucky and Southern Indiana retailers has now been linked to attacks against Schnuck Markets Inc. and four other merchants.
Account takeover techniques are getting more sophisticated; new "account checkers" are helping hackers automate their processes. The trend is just one more reason why we need advanced forms of authentication.
Banking institutions have done a poor job of educating consumers about payments fraud prevention, says Aite analyst Shirley Inscoe. "Banks need to figure out how to communicate with consumers in a way consumers understand."
Breaches are expensive, embarrassing and entice additional scrutiny from regulators and consumers alike. By taking eight key steps, you can protect private information and lessen the impact of breaches when they occur.