A new federal suit against Michaels claims the crafts retailer, hit by a POS skimming scheme in May, took too long to notify customers after it learned of the breach that affected stores in 20 U.S. states.
"It's been more than a year since the House passed this bill by an overwhelming margin," says Rep. Dan Lipinski, who shepherded the measure through the House last year. "Since then, the problem of cybercrime has only increased."
The legislation sponsored by Senate Judiciary Chairman Patrick Leahy would nationalize data breach notification and stiffen penalties for those who fail to notify law enforcement and individuals of a data breach.
David Navetta, an attorney who specializes in IT security and privacy, says the magistrate's recommendation, if accepted by the judge, could set an interesting legal precedent about the security banks are expected to provide for commercial customers.
The soon-to-be issued FY 2011 Chief Information Officer FISMA Reporting Metrics from the Department of Homeland Security will require agencies to report on their progress in automating the continuous measurement of the most critical security risks.
The Federal Deposit Insurance Corp. has fallen victim to another phishing attack, according to an e-mail alert sent out to customers. This newest attack entices consumers to click a link for details about "important information from your financial institution."
For nearly two years, banks and businesses across the U.S. have been plagued by a wave of corporate account takeover. And while there's no one answer, Texas bank examiner Phillip Hinkle sees ways that institutions can better detect and prevent these crimes.