In a much-anticipated court ruling, a Minnesota federal judge said Dec. 2 that Target Corp. had a duty to protect debit and credit card information from cyberthieves.
Three of four allegations in a class action suit filed by financial institutions against Target can proceed.
Proactive tactics helps stop fraudulent transactions over the past 12 months.
Learn how credit unions can more effectively manage cyber security.
The Home Depot data breach cost credit unions almost $60 million, nearly twice as much as the Target breach, according to survey results released by CUNA Oct. 30.
Retail associations have accused CUNA and NAFCU of using misleading arguments on data security in the media and before Congress.
Organizations blast credit union trade groups for misleading the media and Congress.
CUNA survey of 835 credit unions reveals 7.2 million cards affected at an average cost of $8.02 per card.
President Obama has launched an initiative through an executive order called “Buy Secure” to help motivate companies to implement safer payment methods.
Many credit unions lack adequate security budgets. Cyber insurance can fill the risk gap.