Headlines continue to highlight data breaches, especially those compromising payment, banking and personal data.
May 1, 2014
The silver lining to the breaches, according to the ACI report, is that although data breach-related fraud has had a negative impact on banks’ and financial institutions’ bottom lines, more than 40 percent of respondents indicated that their customers have appreciated the proactive outreach and response to market events, which helps to keep financial institutions on the right side of customer satisfaction, rebuilding brand trust.
The theft of information linked to 80 million South Korean credit cards, including salaries, monthly card usage, credit rating and card numbers, has sparked widespread public concern, as cardholders rush to bank branches and overload call centers and service websites to see if their information as stolen.
Private industries need to join the fight against terrorist ideologies, says Financial Integrity Network Chairman Juan Zarate. Read how in the July edition of Security magazine. This issue also includes guidance about CSO compensation and salary, banking security, emergency notifications and more.