The Fed's ruling on interchange cuts mandated by the Durbin Amendment will aid fraud prevention and could accelerate a move to chip-based payments, says Randy Vanderhoof, director of the Smart Card Alliance.
"Overall, this draft is not balanced," Rep. Henry Waxman, D-Calif., said at a hearing on the measure "It gives businesses too many protections and consumers not enough. It preempts strong state laws and replaces them with a weak federal one."
Senate Sergeant at Arms confirms the attack occurred over the weekend and has ordered a review of all Senate computer sites. Hackers' cryptic message suggests they don't like military's intent to use force to combat cyberattacks.
A new federal suit against Michaels claims the crafts retailer, hit by a POS skimming scheme in May, took too long to notify customers after it learned of the breach that affected stores in 20 U.S. states.
David Navetta, an attorney who specializes in IT security and privacy, says the magistrate's recommendation, if accepted by the judge, could set an interesting legal precedent about the security banks are expected to provide for commercial customers.
It's clear that major data breaches have become not just a topic of mainstream news, but they're occurring with such frequency and potential devastation that they're almost deserving of a 24-hour news desk.
The House Subcommittee on Commerce, Manufacturing and Trade heard from Sony and Epsilon about breaches that adversely affected consumer information. Both companies support a national data security and breach notification law.
See our Full Coverage of the State of Government Information Security Today 2011 survey.
President Obama declared cybersecurity a national security priority in May 2009, in effect making the IT experts at all levels of government the frontline troops defending local, state and federal information assets.
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.