Will we ever feel secure about our data again? After the massive Equifax breach – and the rolling thunder that is its aftermath – it’s unlikely. And maybe that’s for the best. Even if your data wasn’t compromised in the Equifax hack, the Yahoo breach is now 3 billion strong; new breaches at Sonic and Whole Foods were recently reported; and the next big breach is always around the corner. This week, our five must-reads are about coping with Equifax, and with a world where our data is everywhere and its security is critical.
2.5 Million More Americans Might Be Affected by Equifax Hack
Equifax has announced that an additional 2.5 million people may have been affected by their recent data breach. That brings the grand total up to 145.5 million, give or take. At this point, the safest bet for consumers might be to assume that they’ve been affected and take precautionary measures.
Equifax to Be Held Accountable: CUNA Files Suit
The Credit Union National Association is planning to file suit against Equifax over its massive data breach, affecting more than 145 million consumers. Credit unions are often left holding the bag for replacement cards and fraudulent charges. They also run the risk of funding fraudulent loan applications.
Mastercard Releases Early Detection System for At-Risk Cards
Mastercard estimates that it takes as little as nine minutes for stolen data from the dark web to be used to commit fraud. Just one more reason for Mastercard to introduce its new Early Detection system to warn card issuers of at-risk cards.
Identity Verification Is a Hot Topic Post-Equifax
With so much stolen data available to identity thieves, identity verification is suddenly a hot topic. “This is a scary time in traditional customer authentication,” says one industry analyst. But what are the alternatives, and are they available now?
EMV at Two: Slow Transactions and Indifferent Merchants
It’s been two years since the EMV liability shift prompted the widespread adoption of chip technology. Where do we stand? Consumers are still frustrated by the lengthy wait for transactions to process. Meanwhile, merchants don’t see the difficulty.