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At a time when the security of personal financial information is in the news thanks to the recently disclosed computer breach at off-price retailer The TJX Cos. Inc., vendors that sell technology and services so merchants can meet the Payment Card Industry (PCI) data security standard have formed a group …
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Latest Breach May Force a New Approach to Data Security
The latest and possibly biggest in a series of hacks into retailer and processor databases holding sensitive data about credit and debit card holders may indicate that it's time for a new approach to card security, according to at least one analyst. That calls into question the effectiveness of the …
Read More »Survey: Retailers Still Falling Short in Consumer Data Security
Merchants have a long road ahead of them in securing the consumer transaction data they house in their databases, if a survey released this week is any indication. Fewer than half of retailers surveyed have a formal plan in place to handle database intrusions, and of those that do, only …
Read More »Eye on Security: California Is the Golden State for Data Breaches; Florida City Pays Bitcoin Ransom
A new analysis of 10 years’ worth of figures on data breaches reveals that California by far holds the dubious distinction of suffering the most breaches as well as leaking the most records. Meanwhile, a Florida city has agreed to pay hackers about $600,000 in Bitcoin to be released from …
Read More »Security Notes: The Database Battleground
Cyber fraud has matured into a solid industry, where economies and efficiencies count. So the lion’s share of hacking efforts is directed at large databases, where a breach is a gift that keeps on giving (as long as it is well-managed). Financial institutions and online merchants, in particular, use databases …
Read More »Eye on Security: Data Breaches up 35%; Malware Hits Kmart
By Jim Daly@DTPaymentNews The number of data breaches tracked by the Identity Theft Resource Center in 2017 hit 698 as of May 30, a 35.3% increase over the record pace of a year ago when the ITRC flagged 516 breaches in 2016’s first five months. The San Diego-based nonprofit monitors …
Read More »A Proactive Stance to Data-Security Testing Is Not Common, Survey Finds
By Kevin Woodward@DTPaymentNews When it comes to actively testing sensitive data networks for problems, only 23% of companies consider themselves as “very proactive.” This finding from a new Osterman Research Inc. survey of 126 companies representing thousands of employees arrives as the onslaught of breaches and malware continues to wreak …
Read More »Eye on Card Security: Two More Hotel Chains Report Data Breaches
By Jim Daly@DTPaymentNews Two hotel and resort chains this week reported apparent data breaches involving payment cards used at their locations. These latest compromises come less than two weeks after compromise occurred between early March and mid-June. Millennium, which has 14 luxury or boutique U.S. properties, isolated and then took …
Read More »EMVCo Rolls Out Its PAR Data Element To Reduce Security Threats to Card Numbers
EMVCo, the chip card standards body owned by the world’s largest payment card networks, on Tuesday formally updated its tokenization specification to include the new Payment Account Reference data element. The purpose of PAR is to match tokens to the underlying primary account number of a credit or debit card …
Read More »The PCI Council Plans an Early Release of Its Updated Data-Security Standard
The PCI Securities Standards Council said Wednesday that the next iteration of the Payment Card Industry data-security standard will be coming in the first half of this year, probably in March or April, about six months earlier than called for in the current update cycle. The new version, dubbed PCI …
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