A breach that apparently began on Black Friday may have exposed millions of credit and debit cards used to conduct transactions at Target retail stores, two major U.S. card issuers tell Information Security Media Group.
Federal authorities in New York have charged 23 individuals for the roles they allegedly played in a $2 million counterfeit payment card scheme. Cooperation between retailers and law enforcement was vital to the takedown.
Call center fraud is one of the leading threats that financial institutions will battle next year because fraudsters consider the centers to be an easy target. But what can be done to mitigate this threat?
Hackers have pilfered some 2 million user passwords and credentials for Facebook and other social media and Internet sites, according to IT security provider Trustwave. The hackers attacked computers in about 100 nations.
Chase says hackers compromised servers for the bank's UCard Center website for prepaid card accountholders, potentially exposing card numbers. The bank is not reissuing cards, but it's offering free credit monitoring.
Wayne Dunn, CTO of HarborOne Bank in New England, says improving vendor management is a top security priority for institutions in 2014. As more core banking functions are outsourced, due diligence becomes increasingly critical.
In case you missed ISMG's 2013 Fraud Summit - or even if you were there and want to share insights with colleagues - I'm pleased to announce the availability of a series of session videos featuring top fraud experts.
The use of synthetic identities is a rising concern for organizations, and financial institutions are often the ones taking the hit for the fraud, says Claudel Chery of the U.S. Postal Inspection Service.
A ransomware campaign has targeted millions of bank clients in the U.K., and experts warn of a worldwide surge in attacks. They say banking institutions have to be diligent about informing customers of the risk.