Data breaches

The technology behind how payments are being delivered is advancing quickly. Unfortunately, standards and systems aren’t evolving fast enough to keep up, writes Greg Cohen, president of Paya.

Northwest CU Association hails victory in all three of the states it represents, including an update to Idaho's Credit Union Act, as well as bills related to data security and municipal deposits.

POS payment encryption products are widely available and have been for many years, from technologies designed to secure card data from the point it is entered into the payment terminal, writes Ruston Miles, founder and chief strategy officer of Bluefin Payment Systems.

Driven by big breaches like the Equifax incident, all stakeholders in card payments will have to demonstrate multifactor authentication, writes Michael Magrath, director of global regulations and standards at VASCO.

Robert Selander was named an independent director of the embattled credit bureau, which is still trying to regain public confidence after a huge data breach last year.

The measure easily passes with a two-thirds majority; Wells Fargo CEO's pay up by a third, but no cash bonus.

A former senior executive at Equifax Inc. was criminally charged for allegedly selling almost $1 million worth of shares before the company’s announcement last year that it had suffered a massive data breach.

There is a growing need for professionals who install and support merchant payment systems to be aware of and trained on critical security controls, writes Mauro Lance, chief operating officer of the PCI Security Standards Council.

The fear of data breaches has become a regular part of life, but many regs that help protect auto lenders were written before that threat originated. Here's how to protect yourself.

Banks and retailers are sparring over whether financial firms should follow a new national standard to quickly notify consumers when they've experienced a data breach.

Manual means of dispute management are inefficient and growing untenable in the current security and compliance environment, writes Brad Johnson, director of solutions consulting at Centrix Solutions.

Breach investigations can be very lengthy and it is not uncommon to disclose additional findings over time, writes Mounir Hahad, head of threat research at Juniper Networks.

The Consumer Financial Protection Bureau is among several agencies that "continue to investigate events related to" last year's Equifax brief, the credit reporting firm said in a securities filing.

The bank overcharged some customers and some received inappropriate investment advice; 2.4 million more people were affected by the breach.

Equifax, the credit bureau breached by hackers last year, said the card-payments industry may cut off its access to certain data or impose fines if the company can't prove it's addressed weaknesses.

A bipartisan bill to establish a federal security framework follows a string of efforts beset by congressional turf battles.

The finance sector had the highest number of breaches of all industries, with 471 in 2016, according to a report issued Friday by the White House's Council of Economic Advisers.

It is unclear whether the Consumer Financial Protection Bureau is abandoning its supervisory oversight of Equifax or just taking a back seat to the Federal Trade Commission as the latter investigates the credit bureau.

Acting Consumer Financial Protection Bureau Director Mick Mulvaney has cited hundreds of confirmed and suspected data breaches as justification for his halting the bureau's data collection activities last month.

This dangerous "wild west" scenario of fraud and breaches is pushing improving or revamping online authentication to the top of this year’s to-do list for both online companies and governments, writes Robert Capps, vice president of business development for NuData Security.