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Johannes LitzenIt seems as of late, no one is safe from getting hacked. From hospitals to retail giants, cybercrimes are becoming more sophisticated and more frequent. While financial institutions are one of the most advanced electronic industries today, the financial industry also controls some of the most valuable assets and therefore has the most to lose in an attack.

EMV is a global standard for credit and debit payment cards based on chip card technology. EMV seeks to make financial transactions more secure. In October 2015, so-called liability shift sets in. From this point forward, both merchants and issuers (including credit unions) alike will be liable for fraud incurred if they have not yet adopted EMV technology.

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