Global Payments Breach Impact on Banks

[InfoSec News <alerts () infosecnews org>]

http://www.bankinfosecurity.com/articles.php?art_id=4655

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."

[...]


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