DES MOINES, IA (December 2, 2014) -- Experts are expecting another busy holiday season for retail data breaches and financial sector cybersecurity incidents. When asked if he expects another major retailer breach in the next few weeks, cybersecurity investigative journalist Brian Krebs told CBS This Morning, “I don’t have any doubt.”
To share fraud-detection learnings and best practices for minimizing financial losses related to a breach, payments processor The Members Group (TMG) is presenting a complimentary webinar, “Year of the Data Breach in Rewind,” for financial institutions (FIs) on Tuesday, Dec. 9.
Hosted by TMG Senior Fraud Prevention Analyst Nicole Reyes, the hour-long event will provide insight on how Target and the myriad of breaches since continues to impact credit union and community bank card issuers. Reyes will outline the methods TMG has employed to not only spot, but also predict – and, importantly, stop – attacks on consumer accounts stemming from stolen payment card data.
“Card fraudsters are bringing their A game,” said Reyes. “They aren’t just after card data; they’re exploiting any kind of sensitive info they can access. Email addresses create more effective phishing campaigns; answers to security questions easily found on social networks can get them access to accounts via call centers. We’re looking at much more than payment fraud, and fortunately, consumers are becoming more aware of that.”
During the webinar, Reyes will also talk about the positive result of increased consumer awareness stemming from data breaches. With a spike in consumer interest in fraud prevention, FIs have a great opportunity to help consumers change risky behaviors. She will share ways FIs can empower consumers to participate in the fight against card and other types of fraud.
Year of the Data Breach in Rewind
Tuesday, December 9, 2014
1:00 to 2:00 p.m. CT
Online registration for the webinar is now open at http://bit.ly/targetafter1.
About TMG
The Members Group (TMG) is dedicated to creating customized, technology-driven card processing and payment solutions for credit unions and community-based financial institutions across North America. Innovations in fraud management, loyalty programs, alternative payment systems and analytic reporting, and the competitive advantages they create, have helped TMG forge a new standard in offering cutting-edge credit, debit, ATM, prepaid card products and a P2P payment solution. For more information, visit www.themembersgroup.com.