Skip to main content

The WiKID Blog

Viewing posts tagged pci

the-express-scripts-bounty

Posted by: admin 16 years, 5 months ago

Now this could be interesting. Express Scripts is offering $1,000,000 reward for information leading to the arrest and conviction of the attacker trying to blackmail them. That is a lot of Ameros.

read more / 0 comments

tjx-5-takeaways

Posted by: admin 16 years, 5 months ago

Computerworld has a summary commemorating the one-year anniversary of the TJX breach. I agree with the article. The PCI Standard is a work in progress; Bad guys are hard to catch; etc.

read more / 0 comments

visibility-and-pci-security

Posted by: admin 16 years, 5 months ago

I'm a fan the PCI security standard from Visa, Mastercard and American Express. It is a tight in all the right ways and loose in the right ways. It tells credit card processors and merchants explicity that they must use two-factor authentication for remote access, but nothing more. If PCI has a problem, it is that it will be too little too late to protect card holder data and stave off regulation. The structure of the credit card industry makes it tough for it to be otherwise. Will making retailers liable for credit card breaches help? I'm not sure.

read more / 0 comments

card-firms-back-down-on-pci-deadlines

Posted by: admin 16 years, 5 months ago

From Computer Weekly:

Visa admitted this week that deadlines for retailers to comply with the Payment Card Industry Data Security Standard (PCI DSS), which requires firms to adopt a package of security measures, were "unrealistic".
I continue to be fascinated by the PCI/DSS soap opera.

read more / 0 comments

banking-group-sues-tjx

Posted by: admin 16 years, 5 months ago

In an interesting development in the economics of information security and data breaches, a group of banks is suing TJX for "negligent misrepresentation". According to Massachusetts Bankers Association CEO Daniel Forte:

"Banks all across the nation re-issued debit cards as a result of the TJX data breach. Preliminary estimates of the costs vary from institution to institution, up to $25 dollars per card," MBA officials said in a statement. "This alone would run into many millions of dollars for banks throughout the country. Moreover, when fraud occurs, banks generally cover the entire fraud, replacing money in customer accounts to protect their customers."
The banks, which once owned Visa, the creator of the PCI data security standards, now recognize that there costs are an externality in that system. The tort system is a pretty good system for dealing with externalities. Unfortunately for those who like to have real data on these matters, if the case is settled out of court, we probably won't know how much it actually costs TJX. I continue to believe it will not affect their brand or sales , but it will hurt their stock price as would any expenses that do not generate revenue.

read more / 0 comments

Recent Posts

Archive

2024
2022
2021
2019
2018
2017
2016
2015
2014
2013
2012
2011
2010
2009
2008

Categories

Tags

Authors

Feeds

RSS / Atom