Skimming incidents at bank branch ATMs and vestibules are adding up to huge losses. One bank says it could easily lose $50,000 over one weekend at a single ATM. So, what can institutions do to deter and detect skimmers?
"Given that the data tested against our network consisted of sign-in ID-password pairs, and that the overwhelming majority of the pairs resulted in failed matching attempts, it is likely the data came from another source and not from our networks," says CISO Phillip Reitinger.
These arrests also highlight the U.S. vulnerability to crimes involving payment cards with magnetic stripes. "The U.S. is a criminal's playground right now," says John Buzzard of FICO Card Alert Service.
A children's health system is offering free credit monitoring to 1.6 million after the loss of backup tapes. It's the second major breach incident revealed in recent weeks involving lost or stolen backup tapes.
The nation's new chief HIPAA enforcer views the protection of privacy as an important way to help ensure patients have access to care. And his passion about the issue means you can expect HIPAA enforcement efforts to intensify in the months ahead.
"It should provide fuel for anyone calling for data breach legislation to include criminal sanctions ...," says Neal O'Farrell of the Identity Theft Council. "This was nothing short of a clumsy cover-up."
"Organizations are putting in layers of security and tools to safeguard information and assets, however, the fraudsters are attacking our weakest link, the consumer," says Anthony Vitale of Patelco Credit Union.