The retail data breach at Target cost U.S. credit unions an estimated $30 million. The National Association of Federal Credit Unions released the estimate this week, Finextra reported on Feb. 11. “Credit unions are being hit by a double whammy in terms of numbers of...
U.S. banks are feeling the pinch after a wave of business data breaches forced the reissuance of millions of credit and debit cards. The replacement costs come at an estimated $15 per card when taking into account the costs of plastic, embossing and encoding, PIN...
Between 2001 and 2004, Target and Visa collaborated on a smart card project that ultimately fizzled due to costs and questions about the system’s viability and operational profitability. It was nearly a decade ago that the retailer canceled the smart card project because the company’s...
Seeking to reduce the impact of the recent Target and Neiman Marcus data breaches, Union First Market Bankshares is reissuing all affected credit and debit cards to customers. The decision was a cautionary one, and the bank’s own systems or cards had not been affected,...
Nothing like a breach to fill one’s stash of stories. Over the past few weeks, as we’ve covered the massive data breaches that affected Target, Neiman Marcus and others, we’ve compiled quite a list. So we decided to package the articles together on one site...
Federal authorities have revealed the arrest of two men at the U.S.-Mexican border as part of the ongoing Target data breach investigation. It’s not clear if the two men, both of whom are from Monterrey, Mexico, are connected to the POS malware blamed for the...
We, and others, have had much to say about the Target breach that occurred just before Christmas. Instead of forcing you to do multiple searches or, heaven forbid, go somewhere else for your Target breach news, we’ve compiled our coverage in this tidy single location....
A 17-year-old from Russia is being accused of masterminding the POS malware behind the recent Target data breach. The name of the teen has not been released but he is thought to reside in the St. Petersburg region, Finextra reported on Jan. 20. Investigators from...
American Express says its customers experienced little adverse effects from the Target breach that affected more than 100 million cardholders from a variety of card brands. However, Amex decided to put in place fraud controls following the breach to protect potentially affected customers, Reuters reported...