Data breaches

The Credit Union National Association filed the class action suit in 2017 after roughly 147 million people had personal information exposed through a hack of the credit reporting agency.

The most effective way to avoid cloud payment breaches is by dramatically reducing access, says CloudKnox Security's Balaji Parimi.

The challenge has been aligning the data-sharing ecosystem in a way that simplifies access and enhances consumer control while ensuring a high level of security, says Finicity's Steve Smith.

In spite of MGM’s quickly notifying hotel guests impacted by the breach in accordance with applicable state laws, it’s a clear concern that many of the contact details were still valid, particularly the phone numbers, says Shared Assessments' Tom Garrabba.

The Payment Card Industry data security standard applies to organizations of all sizes, but has often been seen as an intro to data security for small-business owners who know more about cooking burgers than securing data.

The startup’s tools help banks and consumers deter account takeover in the aftermath of a data breach.

Cybersecurity experts said the trade group's description of the event bears the hallmarks of a ransomware attack, which CUNA subsequently confirmed.

Under terms of the settlement approved by a Georgia court Monday, Equifax may also have to pay an additional $125 million if the initial amount doesn't cover all the claims.

Pennsylvania-based Wawa recently discovered malware that may have been in place since as early as March. The chain has locations throughout the East Coast, meaning members of hundreds of credit unions could have had their cards compromised.

Consumers face significant risk if this highly personal information is exposed, says Mitek's Stephen Ritter.

When a crisis does strike, all too often organizations struggle to coordinate ongoing, speedy and effective responses, even when they have valid and compelling things to say, according to RockDove Solutions’ Chris Britton.

While we expect growing consumer demand for biometrics, we also expect to see payments industry players move toward these types of future-proof technologies and away from legacy password-type systems, says Nuance Communications' Simon Marchand.

Fraud attacks and their avenue of entry are generally regarded as mysteries to most of the companies that suffer from them.

The Clearing House is pushing contract terms that would give fintechs quicker access to consumers' financial information, but one large upstart has taken issue with the proposal's language.

A June data breach at Desjardins Group, Canada's largest financial cooperative, is now believed to have impacted 1.5 million more members than first reported.

The Federal Trade Commission should look into whether Amazon’s failure to secure its services “constitutes an unfair business practice,” which would violate federal law, Sens. Elizabeth Warren and Ron Wyden wrote the agency's chairman.

A new breach adds to a growing cybersecurity ecosystem that is full of sophisticated and connected networks which have been fed by each preceding breach, says Arkose Labs’ Brendan Brummer.

Determined hackers can always find a way. A detailed plan can manage the damage, says Datamatx's Scott Stephens.

Companies should push advanced ID, but passwords and their fallout will be here for a while, says Sift's Kevin Lee.

Retailers are decelerating data security spending, even as attacks become more sophisticated and merchants emphasize the types of multi-channel shopping that draws attackers.