Merrill Halpern of the United Nations Federal Credit Union, a pioneer in the use of chip cards, says high-profile retail breaches reinforce the long-term value of EMV for various forms of payment within the U.S.
Expenses linked to the data breach at Target Corp. have already cost the 58 member institutions of the Consumer Bankers Association more than $170 million - a price they should not have to pay, says the association's David Pommerehn.
Organizations in all sectors can improve their compliance with the PCI Data Security Standard by taking five critical steps, says Rodolphe Simonetti of Verizon Enterprise Solutions, which just issued a new PCI compliance report.
When breaches result from retailers' lax security practices, merchants should be obligated to help banking institutions cover fraud losses and other post-breach expenses, says Viveca Ware of the Independent Community Bankers of America.
As Congressional leaders look for answers about why U.S. card security is failing, there hasn't been enough discussion surround why EMV can't easily fix our system. And the card brands have been conspicuously absent from the debate.
A review of the RSA 2014 agenda shows several seminars, panels and speakers of particular interest to healthcare-focused attendees, including those focused on mobile device security and medical device hacks.
Several payment system experts testifying at a Senate hearing on Feb. 3 urged the adoption of chip card technology in the wake of breaches at Target Corp. and Neiman Marcus. But representatives of banking and retailing engaged in some finger-pointing.
Retail data breaches are growing. ISight Partners' Tiffany Jones, a researcher who helped the Department of Homeland Security prepare its report about malware attacks, offers new insight into the latest cyber-attacks.
While details surrounding a suspected breach at Michaels remain unclear, two U.S. card issuers say they believe the retailer was targeted by point-of-sale malware similar to what compromised Target and Neiman Marcus.