Consumer Security

Ask anyone what comes to mind when they think of TJX Companies, and they'll almost certainly mention the infamous data breach earlier this year that exposed more than 45 million customer credit and debit cards to hackers. That's the kind of publicity most companies can do without, but it's also the ...

For startup e-commerce companies, protecting customer data doesn't always come naturally. Small matters such as getting a business idea out of the starting gates and into the race -- not to mention winning those very first customers -- tend to overshadow the many liabilities associated with collecti...

Credit card and ID thieves are turning to charities to help them validate credit card numbers, says computer security company Symantec. The drill involves making a small donation to a non-profit to see if the transaction is successful, described Symantec security response engineer Yazan Gable in a c...

ChoicePoint is still doing damage control two years after identity thieves set up fake businesses and bought personal information on 163,000 U.S. residents from the data broker. A settlement reached this week between ChoicePoint and attorneys general from 43 states and the District of Columbia may w...

After several years of reported abuse, the Bush administration has rescinded lender access to a federal database containing sensitive financial information on about 60 million college students. The temporary move bars college loan firms from accessing the government-run database over concerns of dat...

The Payment Card Industry Security Standards Council launched in September as a joint venture between Visa International, MasterCard Worldwide, Discover Financial Services, JCB and American Express to continuously improve the data security standard. The group couldn't have appeared at a better time....

The wheels are in motion to create an economy free of paper money and coins. The first steps of that quiet revolution have long been in place for years and touch tens of millions of consumers every day. This includes consumers rolling through tollbooths without stopping, their in-car transponders be...

Approximately 10 million Americans fall victim to identity theft each year, a statistic that is expected to increase despite the diligent efforts of government and institutions to turn the tide. Leading IT security providers are arguably in the best position to understand the nature and scale of the...

Unfortunately, it is now easier and cheaper than ever for those bent on illicit gain to use the Internet to obtain the private, personal information necessary to impersonate you online -- the first step for cybercriminals to gain access to your financial information. "Online identity theft is going ...

There's no doubt that online banking is widely popular in this country -- just ask the millions of customers who've signed on for the convenience it provides. As fraudsters create new scams to bilk financial services customers or to simply hijack their accounts, however, banking customer trust is on...

"It was the best of times; it was the worst of times." The oft-cited quotation from Dickens' "A Tale of Two Cities" seems apt when talking about the opportunity presented by digital communications and computing. It has also ushered in a new breed of cybercriminal who tries hard to use your personal...

Cybercriminals are as gung-ho about perpetrating online fraud as financial institutions and governments are dedicated to preventing it. It's not so much the number of people who have fallen victim to ID theft, but the potential for serious loss and the possibility that you or I will become the next ...

By now, you're probably familiar with the scenario: A major retailer or private institution is hit with a hack that compromises the stored data of thousands of individuals. Names, debit and credit cards, and Social Security numbers are up for grabs to the highest bidder. The breached institution off...

The Internet has presented previously unimaginable opportunities for enterprises of all types, including financial services institutions. Online transactions are at an all-time high as enterprises enthusiastically cultivate the Internet as a vital sales channel. Careful examination of consumer beha...

If you've ever watched a late night spy movie on cable, you're probably already familiar with the concept: Access to a highly secured area or object requires two separate keys each in the possession of a different individual. Some financial companies handling sensitive customer data over the Interne...