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Banks and credit unions are outperforming retailers in the war against credit card fraud, according to a new survey from Javelin Strategy & Research.
January 23 -
The Target and Neiman Marcus breaches have reignited data security as an issue on Capitol Hill, but many hurdles still stand in the way of legislation.
January 23 -
How could this happen? Why is the U.S. payments industry still using archaic and notoriously insecure magnetic stripe card technology? And will the episode change anything? American Banker answers frequently asked questions about the Target breach.
January 22 -
The fallout from the recent Target and Neiman Marcus security breaches has led to a war of words between bankers and retailers.
January 22
The Consumer Financial Protection Bureau issued a
The advisory said consumers should alert banks or card providers immediately if fraud is suspected, as well as avoid scams that ask for personal information over email or phone.
"Consumer financial products often involve significant amounts of consumer data," CFPB director Richard Cordray said in a statement Monday. "In light of recent data breaches, we want to be sure that consumers know how to protect themselves and where to turn if they do suspect fraud."
The recent Target breach took place during the 2013 holiday shopping season, affecting the card data of 40 million people and the personal contact information of 70 million.
The Target and Neiman Marcus breaches were executed using BlackPOS, a type of malware created by a Russian-based hacker in March of 2013, according to IntelCrawler, a Los Angeles-based security company.
U.S. lawmakers have worked to try and create and institute new legislation to protect consumers in the wake of the attacks, including
