Some 300,000 clients of the Cord Blood Registry, a stem cell bank, have been notified of a personal information breach involving stolen unencrypted backup tapes.
When a database breach occurs, consumer notification continues to be a public problem, and it's time for the federal government to step in, says Linda Foley, co-founder of the non-profit Identity Theft Resource Center.
The final version of PCI version 2.0 has just been released. It takes effect Jan. 1, but impacted entities have until Dec. 31, 2011, to become fully compliant.
Card fraud, globalization and emerging technology are pushing U.S. merchants and card issuers to take closer looks at the EMV chip standard, and the PCI Security Standards Council is helping to lead the charge.
Mobile banking is a given. Payments are the next frontier, and a number of technologies, such as remote deposit capture, are converging to make mobile payments readily accessible to consumers.
Merchants, financial institutions and any other provider in the payments chain can expect to take more responsibility for complying with Payment Card Industry Data Security Standards.
Emerging payments technologies, such as tokenization, are already being deployed in the marketplace, but standardization, as it relates to the security of some of these emerging solutions, is lacking.
This week's top news and views: The arrest of 53 suspects charged with a sophisticated identity theft and fraud scheme gets the attention of federal agents, and the message from the PCI Security Standards Council's annual North American Community Meeting: "Stolen Credit Card Information Is a Commodity That Has Worth."
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