Save Mart, the Modesto, Calif.-based grocery chain, now confirms that skimming devices are to blame for the data breach believed to have exposed hundreds of consumer accounts to debit and credit card fraud.
Pradeep Moudgal says the U.S. is migrating toward EMV. But how much new investment are card issuers going to have to make, and what steps does the collective industry need to take to ensure the transition from the mag-stripe to the chip is a smooth one?
Heavily regulated industries like banking and healthcare have been reluctant to make the virtualized leap to the cloud, fearing a loss of control could open them to unforeseen risk. Are their concerns unfounded?
"It should provide fuel for anyone calling for data breach legislation to include criminal sanctions ...," says Neal O'Farrell of the Identity Theft Council. "This was nothing short of a clumsy cover-up."
Successful wire fraud attacks cause losses averaging between $100,000 to 200,000 per victim. So, it's not surprising that banks are being sued by business customers for alleged failures to prevent fraud via ACH.
Take a look at the contract that the Department of Health and Human Services entered with KPMG to conduct HIPAA compliance audits and you'll get a few insights on what healthcare organizations can expect.