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From: InfoSec News (alertsinfosecnews.org)
Date: Fri Apr 06 2012 - 01:40:34 CDT
By Tracy Kitten
Bank Info Security
April 5, 2012
For banking institutions, the payment card data breach that hit
third-party processor Global Payments Inc. is just the beginning.
Now, in the wake of the highly-publicized incident, banks and credit
unions have to ride the rough waves of customers' discontent and fears
of possible identity theft and fraud.
What steps should banking institutions take to ease customers' concerns
and contain any potential fraud? It all starts with account monitoring
and customer outreach, says Matthew Speare, senior vice president of IT
at M&T Bank.
"Many of these cards will not suffer any fraud against them," Speare
says. "But you have to be proactive."
LayerOne Security Conference
May 26-27, Clarion Hotel, Anaheim, CA