Size Of Credit Data Breaches Mean “We Can No Longer Do Nothing”–Senator


The sheer size and frequency of credit card data breaches at Target, Neiman Marcus and other companies are prompting study of legislative options to keep sophisticated cyberthefts from happening, NPR reports. “If anything, we’ve learned from this major, major breach that we can no longer do nothing,” said Sen. Amy Klobuchar (D-MN). “We have to take action.” The bad guys who stole data from as many as 110 million Target customers are so good at what they do that even the most modern security programs couldn’t detect them. If security software can’t keep up, hopes for regulation to stop fraud are slim. “This is kind of an ongoing war, and the types of threats are changing all the time,” said Fran Rosch of the security software firm Symantec, who appeared yesterday before the Senate Judiciary Committee. Senators may push for more secure credit and debit cards. U.S. credit cards have not kept up with European and Asian card technology’s encrypted chips that prevent cyberthieves from re-using data after they steal it. “What’s stopping our country when they’re doing this in Europe?” Klobuchar asked. U.S. financial system complexity means changing the way purchases are made would cost retailers and banks hundreds of millions of dollars.

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