The PCI Security Standards Council has no plans to modify its standards for payment card data security in response to high-profile payment card breaches at Target and Neiman Marcus, says Bob Russo, the council's general manager.
A class action lawsuit has been filed against Horizon Blue Cross Blue Shield of New Jersey in the wake of a recent data breach that affected nearly 840,000 members. One legal expert predicts breach-related litigation could soar in 2014.
The breach at Target Corp. that compromised as many as 40 million payment card accounts, along with the personal information of about 70 million customers, was the result of hackers stealing electronic credentials from a vendor, the retailer reports.
The hacktivist group European Cyber Army on Jan. 28 said it waged DDoS attacks against Bank of America and JPMorgan Chase. DDoS-tracking sources say the botnet involved is the same one used for 2012-2013 attacks against U.S. banks.
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.
Representatives of the American Bankers Association, the National Retail Federation and the PCI Security Standards Council are among those slated to testify at a Feb. 3 Senate hearing on safeguarding consumers' financial data.