Cyber attacks

The race against high-tech fraudsters has always motivated the Payment Card Industry Security Standards Council, but for too long the council's process for establishing new standards wasn't looking ahead to the next threat.

Speaking during NAFCU's Congressional Caucus, a leader from the U.S. Department of Treasury said credit unions can help the agency improve how consumers are notified in the event of a data breach.

House Financial Services Committee Chair Maxine Waters, D-Calif., and a bipartisan congressional delegation met with Swiss government officials last week to discuss Facebook’s plans to launch and operate a digital currency.

Three GOP members of Congress have sent letters to the companies requesting staff-level briefings on the breach in which an ex-employee of Amazon Web Services illegally accessed data of more than 100 million people who had Capital One credit cards or had applied for them.

As management teams meet to set their priorities, there is a range of issues, including consolidation, cybersecurity and succession planning, that will likely come up.

Almost two years after the Equifax breach led to a congressional uproar but minimal policy change, the protracted fight to enact data security and privacy reform has a new bogeyman.

Almost two years after the Equifax breach led to a congressional uproar but minimal policy change, the protracted fight to enact data security and privacy reform has a new bogeyman.

An employee at a Canadian cooperative recently stole nearly 3 million members’ personal data. Here’s why it matters to U.S.-based credit unions.

Security companies report a recent spike in spearphishing campaigns originating in Iran and targeting banks.

The watchdog and three Democratic lawmakers urged the agencies to stop using knowledge-based verification methods to grant access to their online portals.

Organized crime groups are selling access to the computer networks of financial firms like Bank of America Corp. and hacking tools targeting these companies, according to a British researcher who posed as a buyer on several dark web marketplaces.

Cathy Bessant, Bank of America’s chief operations and technology officer, offers her takeaways from the first meeting of the Council on the Responsible Use of Artificial Intelligence. She also shares some challenges banks are facing with cyberattacks and data encryption.

A hacker can infect multiple point-of-sale terminals with malware by entering through a "smart" coffee vending machine at a grocery store or restaurant. And the store owners are largely unaware of the risk.

Facebook Inc. housed dozens of cybercriminal groups that set up shop on the platform as online marketplaces to sell a variety of illegal services, such as stolen credit card information, account theft and spamming tools, a team of researchers found.

System breaches similar to events at Equifax and Marriott could just as easily happen to credit unions, leading Mastercard and the credit union service organization, PSCU, to take protective measures.

Users don’t have all the tools they need to ensure the security of their mobile devices, so it’s all the more important for providers of mobile financial services to help users by hardening mobile apps with technology, writes Samuel Bakken, senior product manager at OneSpan.

Two years ago, Ellen Richey became Visa's vice chairman and chief risk officer, propelled to this role by over a decade of work that fundamentally changed how the average consumer makes a payment. Richey plans to retire this summer, ending a 40-year career in law and risk management.

A new regulation in the Golden State could provide a de facto national standard as Congress continues to stall on data breach legislation.

Lawmakers must hold merchants accountable when credit unions are left cleaning up the mess after data breaches.