Payments Source

SEPTEMBER 8, 2017

The incident can and should be a turning point for the financial services industry that it needs to end its reliance on static personal identifiers like Social Security numbers and birth dates. It's not just Equifax that needs to worry.

Breach 95

Breach Social Security Security Data Security 95

PYMNTS

MAY 15, 2017

Any person shopping at both Brooks Brothers and Brooks Brothers Outlet stores between April 4, 2016, through March 1, 2017, may have been impacted by this breach. At this time, the company has not disclosed the number of accounts impacted.

Breach 46

Breach Compromise Social Security Payments 46

PYMNTS

OCTOBER 13, 2017

The Equifax data breach — impacting sensitive and valuable information ranging from Social Security numbers to birth dates and home addresses — affected more than 150 million people and counting, and it’s become clear that the “one-size-fits-all” approach is no longer effective.

Data Security 41

Data Security Account Takeovers Security Cybersecurity 41

PYMNTS

MARCH 2, 2018

Like breaches , for example. Thursday was the same day the company said that more individuals in the United States were hit by last year’s data breach than had been initially estimated. That’s a lot of compromised data, of course. The latest tally comes to 147.9 million, up 2.4 Investigations continue, said the company.

Breach 41

Breach Data Breach Identity Theft Data Security 41

PYMNTS

FEBRUARY 26, 2020

Another perennial challenge the industry faces is the ever-looming threat of data breaches. One of the more recent incidents took place at the Desjardins Ontario Credit Union, revealing the names, social insurance numbers and transaction information of all 4.2 Deep Dive: Credit Unions Face Data Breach Challenges.

Credit Union 77

Credit Union Data Breach Security Innovation 77

PYMNTS

FEBRUARY 10, 2020

1, the first-class action lawsuit alleging data breaches under the CCPA was filed on Feb 5. The complaint accuses Salesforce of allowing the site to be infected with malware, which is the prime suspect for the data breach. The California law is more specific and more punitive for breaches.

CCPA 62

CCPA Laws Privacy Data Breach 62

PYMNTS

NOVEMBER 6, 2018

The standards put forth by the PCI Security Standards Council – the PCI Data Security Standards – offer a framework for ensuring data security, and they must be followed in order to avoid fines and other penalties. That scope applies to merchants and other stakeholders, including issuers and payments processors.

PCI DSS 71

PCI DSS Privacy Breach Irrevocability 71

PYMNTS

APRIL 5, 2018

According to Reuters , the suit alleges that the credit reporting firm failed to protect its databases or provide prompt notice of the massive data breach that exposed the personal data of 147 million people. These allegations state a viable claim for violation of the data security regulations,” Salinger wrote.

Federal Trade Commission 43

Federal Trade Commission Request for Comment Breach Data Breach 43

PYMNTS

FEBRUARY 28, 2020

Failing to prevent a data breach is a surefire way to lose that trust, however. Credit unions possess vast troves of personal information such as credit card data and Social Security numbers that could devastate members if leaked. Data Breaches Within And Without. It also revealed that 60.8

Credit Union 52

Credit Union CCPA Data Breach NCUA 52

PYMNTS

FEBRUARY 10, 2020

1, the first-class action lawsuit alleging data breaches under the CCPA was filed on Feb 5. The complaint accuses Salesforce of allowing the site to be infected with malware, which is the prime suspect for the data breach. The California law is more specific and more punitive for breaches.

CCPA 52

CCPA Laws Privacy Data Breach 52

PYMNTS

AUGUST 8, 2019

You can thank the information stolen during data breaches for that, he said: “They essentially were working from an answer key.”. The move toward new forms of ID verification comes as regulators and politicians increase their focus on data security in the wake of Equifax and other breaches. Post-Equifax World.

Security 58

Security Verification Online and Mobile Banking Breach 58

PYMNTS

SEPTEMBER 10, 2018

As noted late last week, a data breach at British Airways was revealed – one that affected more than 380,000 transactions done over the company’s website, and may be among the first test cases of GDPR’s reach and impact. Credit Unions Eyeing Data Security, Too. BA’s reaction was very fast.

Credit Union 46

Credit Union Money Laundering Breach Online and Mobile Banking 46

Segpay

JUNE 13, 2024

This shows that as businesses and customers continue to rely on online payment systems the risk of falling prey to cyber security threats increases too. If you fail to fortify your defenses, your business will suffer a lot in the face of a successful breach. Verizon’s 2021 report found that 85% of breaches involved a human element.

Best Practices 40

Best Practices Processors Transactions Security 40

PYMNTS

APRIL 30, 2018

Access Group Education Lending, the student loan servicing company, has been the subject of a data breach. Fox Business , citing a letter sent to those impacted, reported that 16,500 borrowers were recently alerted to the fact that files containing their personal data were improperly given to an unnamed business.

Data Breach 47

Data Breach Breach Social Security Encryption 47

PYMNTS

NOVEMBER 1, 2018

Equifax has extended its free credit monitoring to all Americans affected by last year’s massive data breach , but this time, it’s using a service offered by rival Experian. You have until January 31, 2019, to enroll in this extension of free credit monitoring through IDnotify , a part of Experian.”.

Enrollments 50

Enrollments Data Breach Breach Cybersecurity 50

PYMNTS

SEPTEMBER 29, 2017

That the Equifax breach will be a major watershed moment in the history of data security, impacting consumers nationwide for years to come, is not a terribly controversial point. It’s why — even before the Equifax data breach — firms were exploring advanced technologies to improve security, such as biometrics.

Account Takeovers 41

Account Takeovers Accounts Data Breach Breach 41

Exact Payments

JULY 1, 2024

By Jeremy Smillie, VP of DevSecOps at Exact Payments In an era where data breaches are not just threats but realities, protecting Personally Identifiable Information (PII) is more crucial than ever. At Exact Payments, we understand the magnitude of the responsibility of handling such sensitive data.

Data Security 52

Data Security Security Encryption Payment APIs and Integration 52

PYMNTS

APRIL 20, 2018

The company does not believe it involved personally identifiable information, such as Social Security numbers, account numbers, pins, user IDs, passwords or driver’s license numbers. “We As of last week, SunTrust does not believe the stolen data has left the bank, although the matter is still under investigation.

Data Breach 43

Data Breach Breach Social Security Authorization 43

PYMNTS

JUNE 15, 2018

Technical and non-technical professionals within an organization that adopts ALTR’s offerings, the firm has said, will be on the same page when it comes to data security, and who has access to what information, and at what time. The ALTR platform is built on ALTRchain, which the firm says ensures “ultra-secure” data access and storage.

Blockchain 43

Blockchain Security Database Social Security 43

PYMNTS

DECEMBER 3, 2019

Digital identities are growing more important and omnipresent in everyday life, and the need to keep them secure grows more pressing by the day. Financial information, Social Security numbers and a host of other private data is wrapped up in each person’s digital identity, making a potential data breach catastrophic.

Verification 52

Verification Authentication Breach Data Breach 52

PYMNTS

OCTOBER 30, 2018

For example, the number of instances in which attackers went after Social Security numbers increased eightfold between 2016 and 2017. Small businesses that fail to safeguard not only their own data, but their customers’ data as well, “can lead to an immediate loss of trust,” the report said. .

FTC 73

FTC Cybersecurity Small Business Federal Trade Commission 73

PYMNTS

MARCH 1, 2018

We all know that in the wake of the Equifax breach , no data is safe. That statement is compounded by the breaches that came before Equifax’s headline-grabber and the breaches yet to come. That statement is compounded by the breaches that came before Equifax’s headline-grabber and the breaches yet to come.

Push-to-Card 40

Push-to-Card Breach Compromise Authentication 40

PYMNTS

NOVEMBER 6, 2017

The Social Security number (SSN) was never meant to get this much attention. It was never meant to be shorthand for, well, you – proving that you are who you say you are, serving as a gateway to all manner of sensitive data and, of course, financial accounts. Let’s not pick solely on the SSN. So, what does the future hold?

Security 43

Security Consumer Office of the Comptroller of the Currency Identity Theft 43

PYMNTS

MARCH 22, 2019

Anyone who has been frustrated by filling out endless and repetitive forms at doctors’ officers can understand the frustration of federal benefit paperwork: Because of laws and regulations, data collected by one agency cannot typically be used by or shared with another agency, lest consumer privacy be breached.

Governance 40

Governance Government Authentication Authorization 40

PYMNTS

DECEMBER 3, 2018

A consumer who tries to make an online purchase of eCigarettes might be asked to prove their age by — depending on the retailer — submitting a scan of their driver’s license, for instance, or entering the last four digits of their social security number, with that merchant then doing a background check.

Authentication 70

Authentication Privacy Checks AI 70

PYMNTS

MARCH 8, 2018

Additionally, Dorchester said he participates in an ETA (Electronic Transactions Association) committee focused on operations and risk, fraud, security, data breaches, securing the Internet of Things and other related topics. More touchpoints via the IoT means more potential entry points for bad guys.

Innovation 45

Innovation Online and Mobile Banking Security Credit Cards 45

Stax

NOVEMBER 6, 2023

Loss, corruption, improper use, and unwanted access to a company’s data assets can lead to immense negative publicity, which in turn can cause irreparable reputation damage, fines, sanctions, and loss of profits. Moreover, companies need to follow data privacy and compliance requirements to stay in business.

Encryption 88

Encryption PCI DSS Data Security Origination 88

PYMNTS

JUNE 4, 2019

That includes the sale and analysis of their personal data, and the potential security and fraud risks stemming from that.

Verification 62

Verification Online and Mobile Banking Fraud Prevention Privacy 62

Clearly Payments

JANUARY 8, 2024

Security, Compliance, and Regulatory Risk: Cybersecurity risk involves the threat of data breaches and unauthorized access to sensitive payment information. Hackers may exploit vulnerabilities in the merchant’s system to gain access to customer data.

Risk Management 97

Risk Management Risk PCI DSS Process 97

PYMNTS

OCTOBER 7, 2019

If we had a data breach, it [would] probably mean [we’d be] out of business,” said Caton Hanson, Nav’s co-founder and chief legal officer. As part of the sign-up [process], the user provides us with [their] full name, address and Social Security number.

Verification 40

Verification Authentication Small Business Checks 40

Payments Source

SEPTEMBER 25, 2017

After Equifax disclosed a devastating data breach, much of the attention focused on whether the company did everything it could in response. But the scary truth may be that this is the sort of incident that goes beyond a single company's ability to fix.

Social Security 110

Social Security Data Breach Security Breach 110

EBizCharge

JULY 16, 2024

Ensuring compliance with NACHA requirements is crucial for financial institutions, as it guarantees the secure, efficient, and reliable handling of electronic payments. Under NACHA’s stewardship, the ACH network processes various payments, including direct payments for payroll, social security benefits, tax refunds, and more.

NACHA 52

NACHA Nacha Rules ACH Network ACH 52

PYMNTS

DECEMBER 8, 2017

An expression popularized during Watergate has managed to gain new relevance in the era of data breaches and executives that may try to hide them from the customers (and regulators) they serve. Stolen information included names, Social Security numbers, birth dates, addresses and, in some instances, driver’s license numbers.

Data Security 40

Data Security Data Breach Breach Security 40

PYMNTS

SEPTEMBER 28, 2017

But in the world of identification fraud, there’s a greater sea change afoot, one that stretches farther than the impact on any one firm, or even the millions of adults targeted in the most brazen of breaches. This estimate was made well before the costs of the Equifax breach, though, so plan on the actual figure being quite a bit higher.

Enrollments 43

Enrollments Breach Fraud Detection Social Security 43

PYMNTS

FEBRUARY 14, 2019

The challenge for firms transacting with companies in a manner that is anything but face-to-face is that it’s hard to tell whether a consumer (and, thus, a transaction) is legitimate, or whether the data being presented has come from the Dark Web and that the bad guys are about to make off with some ill-gotten gains.

Authentication 60

Authentication Transactions Online and Mobile Banking Credential 60

Payments Source

OCTOBER 3, 2017

The Trump administration is exploring ways to replace the use of Social Security numbers as the main method of assuring people’s identities in the wake of consumer credit agency Equifax Inc.’s s massive data breach.

Social Security 61

Social Security Security Data Breach Breach 61

PYMNTS

FEBRUARY 15, 2018

In the wake of breaches that have compromised the data of millions of Americans and companies as far-flung as Equifax and Uber, industry observers and participants told a House subcommittee on Wednesday that data security should be standardized at a national level.

Data Security 40

Data Security Security Breach Privacy 40