Malware intalled in Neiman Marcus payment terminals exposed 1.1 million debit and credit cards from July to October last year, while the Target incident compromised the personal information of more than 110 million customers in November and December.
The sophistication and scope of the recent breaches has lent increased pressure to the adoption of a new generation of microchipped debit and credit cards and a cutting-edge technique known as tokenization to protect online and mobile purchases.
In the aftermath of the breaches, Visa and MasterCard announced the formation of a new cross-industry security working group focused on speeding up and coordinating the adoption of the new technologies.
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WASHINGTON — Recent high-profile data breaches at Target and Neiman Marcus have accelerated plans by banks and retailers to implement technologies they say will prevent hackers from stealing consumers account information.
It isn’t surprising that we have ended ended up replacing one toxic substance with others that might be just as bad. There are no federal laws requiring chemicals to be proven safe before they’re placed on the market. “So if a manufacturer decides to stop using BPA, they have no laws to follow that require them to use a safer chemical. As a result, they’ve been switching to chemicals that work the same,” Dahl says.