Criminals have certainly been hard at work lately. As anybody who has picked up a newspaper or logged onto the Internet recently knows, retail giant Target and tens of millions of its customers were the victims of a holiday season heist of payment and other personal information. And on January 17th, the Better Business Bureau… Continue reading New FBI Prepaid Card Scam – Alert By Better Business Bureau
Target’s Woes Continue
While Target is scrambling to undo any lasting damage done by this high profile data thievery, there is evidence that the company still has plenty of work to do. Just three days after Target released its latest update on its security troubles, the research firm YouGov released its latest BrandIndex, which ranks companies according to consumer sentiment.
Senate Bill Aims To Ensure Prepaid Card Fee Disclosure
U.S. Senator Mark Warner chose the end of the holiday shopping season to introduce a bill that would mandate prepaid card fee disclosure. Warner, a Democrat from Virginia, unveiled the Prepaid Card Disclosure Act of 2014 on January 9, and cited the recently completed holiday gift buying season and the industry’s rapid growth as the… Continue reading Senate Bill Aims To Ensure Prepaid Card Fee Disclosure
Pot Purchases with Plastic? The Credit and Debit Cards Question
One of the first major news stories of 2014 is all about marijuana. Starting January 1, pot has been available for commercial purchase by non-medical customers in Colorado. In other words, Colorado residents are now able to purchase marijuana for recreational use by walking into a store, making a selection and paying for it at… Continue reading Pot Purchases with Plastic? The Credit and Debit Cards Question
U.S. Credit Card Security Outdated
Because around 80 countries have already embraced smart card technology, the more vulnerable U.S. has become the favorite target of identity thieves. Given that smart cards provide such superior security, the question is why the U.S. hasn’t embraced their use. According to O’Brien’s story, there has been no political pressure to force businesses and financial institutions to make the switch. Importantly, an upgrade to smart cards would be expensive.
Cybercriminals Hit Target
Target says that it discovered the problem on Dec. 15 and was able to take steps to resolve future problems. Target also said that the information stolen included customer names, credit or debit card numbers, card expiration dates and three-digit security codes.