The Heartland Payment Systems data breach - it's the first major security incident of 2009. But how big is it really? What are the key takeaways for banking institutions left explaining this breach to their customers?
In an exclusive interview, James Van Dyke, Founder and President of Javelin Strategy & Research,...
The fraud against 16 credit cards of CU Community Credit Union members over one weekend last November puzzled the credit union's staff. The Springfield, MO-based credit union discovered nearly $11,000 in fraudulent charges against those cards.
At the time, the credit union didn't know what the fraud was related to,...
Twenty-two additional financial institutions have informed their customers that their credit or debit cards were among those compromised in the Heartland Payment Systems (HPY) breach.
Heartland, the sixth-largest payments processor in the U.S., announced on Jan. 20 that its processing systems were breached in 2008,...
You can't get away from this story.
Since we first broke the news about the Heartland Payment Systems (HPY) data breach back on Jan. 21, this story has just dominated conversation in and about our industry.
On our site, the latest news updates and have proven enormously popular.
We're barely out of January, and already this year has revealed itself as one to remember. Between the worsening conditions within the banking sector, the Heartland breach and a very noticeable shift in the regulatory climate, we're already hard pressed to pick this year's "Story of the Year." And somehow I suspect...
This is a copy of a letter sent by the Bank of Fayetteville, Fayetteville, AR to a debit card customer on January 22. The bank sent the letter to inform the customer that the debit card may have been among those that were compromised as a result of confirmed unauthorized access to Heartland Payment Systems.
The news of the Heartland Payment Systems (HPY) data breach gives new meaning to an annual study of what such a breach truly costs a business.
The average cost of a data breach was $202 per compromised record in 2008, according to the Ponemon Institute's Cost of Data Breach study. This represents a 2.3 percent...
Exactly how big was the Heartland data breach?
This is the great unanswered question since last week, when Heartland Payment Systems (HPY), a Princeton, NJ-based credit card processor, revealed that its computer systems had been breached, and an unknown number of credit card account numbers were exposed to...
There are at least six institutions so far that have found out their customers' credit or debit cards could have been compromised as part of the Heartland Payment Systems breach.
Heartland (HPY), the sixth-largest payments processor in the U.S., announced earlier this week that its processing systems were breached...
While the dust is still settling and the forensic teams finish their investigations over at Heartland Payment Systems (HPY), and the line of banks and credit unions begin to form to jump onto the litigation bandwagon because their customers' card were hit in this latest data breach ... one thing jumps out at those of...
Let's talk about how a big disaster becomes an even bigger one.
On Tues., Jan. 20 - Inauguration Day - Heartland Payment Systems (HPY) President/CFO Robert Baldwin announced the company had been breached sometime in 2008.Heartland, which processes roughly 100 million transactions per month for 250,000 different...
As banking regulators emphasize the necessity of application security, a broad-based consortium now sheds new light on the most common vulnerabilities.
Experts from more than 30 U.S. and international cyber security organizations, including the National Security Agency and the Department of Homeland Security's...
Information security will be among the top 10 business drivers for retail financial institutions in 2009, says a leading research firm. Along with the current economic environment, regulatory change and compliance, financial institutions will face challenges in developing short- and long-term strategies to mitigate...
It was a busy weekend for federal banking regulators, as a deal was hashed out for the government to rescue troubled giant Citigroup with a $20 billion injection into the global bank and guarantees to back more than $300 billion in toxic loans.
Federal banking regulators made the dramatic move late on Sunday,...
The nation is facing the economic crisis of the century, but Treasury Secretary Henry Paulson on Thursday warned against the passage of harsh financial industry regulations. Paulson, who calls the financial storm now swirling around the glob a "once or twice" in a 100 years event, warmed that imposing strict...
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