Payments News

On The Web

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Regulation

British Airways Faces Record £183m Fine for Data Breach

“The airline, owned by IAG, says it is “surprised and disappointed” by the penalty from the Information Commissioner’s Office (ICO). At the time, BA said hackers had carried out a “sophisticated, malicious criminal attack” on its website. The ICO said it was the biggest penalty it had handed out and the first to be made […]
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Risk & Fraud

Nearly a Third of Retailers Say Online Sales Represent the Greatest Increase in Fraud at Their Companies

“Nearly 50% of retail loss prevention professionals are getting bigger budgets to help quell fraud, according to a report released by the National Retail Federation earlier this month. 44.5% of loss prevention professionals surveyed said their budgets for loss prevention efforts are increasing, and 68.2% say they’ll allocate additional resources to stop fraud, most of […]
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Reports

Data Breaches Cost $654 Billion in 2018

“Data from ForgeRock found that cyberattacks to U.S. financial services organizations cost the industry more than $6.2 billion in Q1 2019 alone, up from just $8 million in Q1 2018. Even though investments in information security products and services have been on the rise, with $114 billion invested in 2018, cybercriminals continue to attack organizations […]
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Risk & Fraud

7.7 Million LabCorp Records Stolen in Same Hack Affecting Quest Diagnostics

“LabCorp is the latest laboratory testing giant this week to confirm it’s affected by the same third-party data breach. The Burlington, North Carolina-based medical giant said 7.7 million patients had their personal and financial data stolen by hackers, which hit the payment pages of the American Medical Collection Agency, a third-party vendor that processes payments […]
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Risk & Fraud

How the Accused Capital One Hacker Stole Reams of Data From the Cloud

“Ms. Thompson was allegedly able to find an opening in Capital One’s systems and exploit a weakness in some misconfigured networks, according to a Wall Street Journal analysis of hundreds of Ms. Thompson’s online messages and interviews with people familiar with the investigation. Security professionals for years have warned about that gap, which the messages […]
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Risk & Fraud

Mastercard Alerts Privacy Watchdogs After Loyalty Program Leak

“Mastercard Inc.’s European unit formally notified Belgian and German data-protection regulators of a data lapse concerning a loyalty program, officials said on Friday. The Belgian watchdog said in a statement on Friday that the card company alerted it to a “breach” detected on Aug. 19. It said the episode would have affected a “large number” […]
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Risk & Fraud

Instagram’s Lax Privacy Practices Let a Trusted Partner Track Millions of Users’ Physical Locations, Secretly Save Their Stories, and Flout Its Rules

“A combination of configuration errors and lax oversight by Instagram allowed one of the social network’s vetted advertising partners to misappropriate vast amounts of public user data and create detailed records of users’ physical whereabouts, personal bios, and photos that were intended to vanish after 24 hours. The profiles, which were scraped and stitched together […]
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Risk & Fraud

Breach at Hy-Vee Supermarket Chain Tied to Sale of 5M+ Stolen Credit, Debit Cards — Krebs on Security

“On Tuesday of this week, one of the more popular underground stores peddling credit and debit card data stolen from hacked merchants announced a blockbuster new sale: More than 5.3 million new accounts belonging to cardholders from 35 U.S. states. Multiple sources now tell KrebsOnSecurity that the card data came from compromised gas pumps, coffee […]