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.
President launches initiative to motivate companies to implement safer payment methods.
NAFCU reports 84% of respondents hit by local data breaches during the last two years.
Backoff malware attacks customer data at 395 stores.
Members of large and small credit unions are being hit with new text fraud.