With the liability shift for EMV card technology coming up on Oct. 1 and many customers receiving chip-enabled cards in the mail, ABA has released a new infographic and is running a radio ad to help the public understand the new technology.
The court also named Zimmerman Reed and Chestnut Cambronne as class counsel and Umpqua Bank, Mutual Bank, Village Bank, CSE Federal Credit Union and First Federal Savings of Lorain as class representatives.
Eighty-eight percent of banks carry cyber insurance, but their specific policies differ in what they cover.
The Federal Reserve today named Todd Aadland as the system’s secure payments strategy leader, responsible for leading the Fed’s efforts to manage fraud risk and advance the payments system’s safety and resiliency as the Fed and private sector move toward faster payments.
To mark National Cybersecurity Awareness Month in October, ABA has developed a number of free resources to help bankers promote consumer awareness about cybercrime. The campaign materials focus on how consumers can protect themselves, their small businesses, their identities, and their mobile devices online. The resources — available at aba.com/PRtools — include a social media
ABA Insurance Services, ABA’s endorsed insurance provider, today announced a new cyber liability and privacy insurance policy to help banks protect themselves against data breaches and related threats. Named Cyber Cover, the policy offers three core insuring agreements and six optional coverage components, with each piece designed to protect against a critical cyber or privacy
Mobile banking is rapidly moving to near-universal availability, but customer uptake rates remain relatively low, according to a newly released survey from the Federal Reserve Banks of Atlanta, Boston, Dallas, Minneapolis and Richmond.
The Third Circuit’s decision will strengthen the FTC’s exercise of authority over issues of cybersecurity.
Visa and Target have reached a $67 million settlement of claims by Visa and its card issuers related to losses from Target’s 2013 data breach, news outlets reported yesterday.
At a Capitol Hill event on payment security technology yesterday, ABA SVP Bill Boger represented the financial services industry and emphasized the importance of innovation and dynamic technology in stopping card fraud.