A July trial date has been set for a pay-at-the-pump skimming scheme that allegedly led to the theft of more than $150,000 from six Hawaii financial institutions, highlighting the growing fraud vulnerability of self-service card payments.
The federal list of major healthcare information breaches that have occurred since September 2009 didn't grow much in the past month. The list now includes 272 cases affecting a total of almost 10.9 million individuals.
More than 30,000 enrollees in a Medicare supplementary insurance plan from Anthem Blue Cross are being offered free credit monitoring services after they were mailed notices that apparently displayed their Social Security numbers in the envelope window.
The Obama administration's plan for a federal data breach notification policy is too vague to be effective, and it lacks teeth to penalize violators, according to experts who raise open questions about the proposal.
ThreatMetrix's Taussig says strong authentication should be part of every financial institution's layered security approach. And according to expected changes to the Federal Financial Institutions Examination Council's 2005 online authentication guidance, that means proven measures to enhance device identification.
"Raising the security awareness of your workforce is your best defense against having a breach incident," says David Holtzman, who's on the federal team that enforces the HITECH Act breach notification rule.
ThreatMetrix's Taussig says device identification must be part of layered security measures. Banking regulators want financial institutions to deploy multiple layers of online security. But what does that expectation mean when it comes to investments in fraud detection?
A silver lining is emerging behind the rash of breaches that occur all too regularly. The fact that these breaches make the public more aware of the vulnerabilities is encouraging in efforts to make the Internet safer for all.
An incident recently added to the official federal list of major health information breaches offers a reminder that dental practices, as well as medical practices, must adequately protect patient records.
Wire fraud incidents from China prove current security measures, including multifactor authentication, are too easy to bypass. And security pundits say it all points back to why the financial industry needs more guidance about adequate online security.