Breaches Old and New: Target Settles, More Blue Cross Leaks; New Security Measures
Target Reaches Settlement for 2013 Breach
Finally, after a long wait, Target has reached a settlement for the 2013 data breach. The company will pay a $10 million settlement, which will be divided among the affected customers. Additionally, new security measures will be implemented.
Premera Blue Cross Faces Similar Hack
Following the Anthem Blue Cross breach, Premera Blue Cross faces a possible hack that may have exposed personal information, including Social Security numbers and credit card details.
Stepping Up Payment Security Measures
In response to rising fraud costs, payment companies and merchants are implementing new security protocols. Measures include the transition to EMV cards, increased use of encryption, and tokenization for enhanced data protection.
In the arena of payment security, Business Insider lists additional steps being taken to address fraud that “cost US retailers approximately $32 billion in 2014, up from $23 billion just one year earlier.” As the article avers, “payment companies and merchants are implementing new payment protocols that could finally help mitigate fraud.”
Enhance Your Payment Security with AVPS
Stay ahead of the game and protect your business with AVPS solutions. Expand your payment options, improve transaction security, and ensure your customers’ peace of mind. Contact your AVPS Rep today for digital advancements in payment processing.