Home Posts tagged "data breach"
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As SEC Investigates Yahoo Breach, FTC Reiterates Need for Federal Breach Notification Laws

Following a data breach involving over 500 million accounts and a delay in notifying the public or impacted parties, the Securities and Exchange Commission (SEC) started an investigation into the Yahoo data breach at the request of a Senator. Later at a Senate Committee meeting the Federal Trade Commission (FTC) cited the Yahoo breach reiterating

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Average Cost of Data Breach Grows to $4M Globally, $7M in the U.S.

IBM and the Ponemon Institute recently published the latest results of their global study measuring the financial impact of data breaches to the victim companies. While the global average increased to $4 million, up from $3.8 million last year, organizations in the United States, Germany and Canada incur $5 million or more in losses per

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Target and Home Depot Data Breaches Cost Each More Than $250 Million

After completing a $67 million settlement with Visa in August regarding the high profile data breach Target experienced in late 2013, the company this week announced acceptance of a $39.4 million dollar settlement with MasterCard and issuing banks. Home Depot, who suffered a notable data breach in 2014, also reached a settlement with MasterCard according

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MasterCard Forms New Partnerships to Proliferate Use of Tokens

MasterCard seeks to solidify their place as a premier token service provider as they recently formed partnerships with Synchrony Financial and Citi Retail Services to support tokenization for several private label payment cards. The card association also announced plans to expand token services for mobile and eCommerce merchants with recurring billing and card-on-file programs. These

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Taxpayer Data Stolen from IRS Used to File Up to $39 Million in Fraudulent Returns

Published on June 25, 2015, by in Data Breach.

Between February and May fraudsters used compromised consumer information to obtain more detailed tax payer data via the IRS’s “get transcripts” web service for consumers. The IRS estimates there were 200,000 unauthorized attempts or lookups to gain access to copies of previous year tax returns, more than half of which were successful, leading to as

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Target Reports Cost of Data Breach was $162 Million

The late 2013 data breach impacting 70 million Target customers continues to cost the company which in their latest financial statements reported $4 million in related expenses for Q4 2014. The total loss to Target for 2013 and 2014 related to the data breach was $162 million, but would have been even larger if not

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U.S. Proposes National Data Breach Notification and Protection Standards

This week the White House proposed the Personal Data Notification and Protection Act, which seeks to set a national standard for data breach notification requirements replacing the patchwork of separate laws across 47 states. If passed into law, this act would strengthen and more clearly define what is required of organizations that suffer data breaches,

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In 2015 Achieving PCI Compliance Means Meeting the Version 3.0 Standards

The first big change for payments in 2015 took effect on January 1st when the deadline to meet PCI Data Security Standards (DSS) version 3.0 requirements passed. The Fraud Practice provides a quick overview of what has changed and what that means for organizations that must adhere to these standards. The third version of the

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