Daily Caller: Without Bank Participation, Order Falls Short For Consumers

President Obama recently signed an executive order that requires government-issued credit and debit cards to be equipped with new chip and PIN technology aimed at reducing fraud.  Given the persistent rash of data breaches aimed at American consumers and businesses, the security measure was met with applause. But despite this progress, the vast majority of […]

In The Coming Mobile Payments Duel, Consumers Win

Payment systems can be a dry topic until your credit card stops working or until hackers dip into your credit. Then our interest is piqued in how to avoid today’s clunky credit cards. Mobile payments will deliver more convenience and much more safety for consumers. Unlike the security exposure of credit card signatures and numbers […]

Consumer Concern about Credit Card Security

A new Gallup poll reveals widespread concern among American consumers about hacking and data breaches. In fact, those polled were more concerned about credit card crime than any other crime they were asked about. American Consumer Institute President Steve Pociask issued the following statement in reaction to the new poll: “The unprecedented uptick in recent […]

The Four Tribes of Privacy Thieves

American consumers fall prey to privacy thieves with little available to protect them from these modern brigands. Distinguished by status and motivation, there are four tribes of cyber thieves – money-seeking criminals, hacktivist autocrats, aggressive nation states (notably Russia, Iran, the Koreas and China), and US government employees. Ordinary privacy criminals go where the money […]

Security and Trust are Both Lost

A decade ago, Internet privacy violations were often pranks by script kiddies hoping to out-do each other through website defacements.  Today, such juvenile antics attract little notice.   Instead, more news covers criminal gangs from Eastern Europe who steal personal account and password information for bank and credit accounts.  Personal information and credit card numbers for […]

Privacy in a Glass Aquarium

If government agencies want to locate you, watch you, or follow your movements, conversations and writings, they have the tools to do it, and they won’t ask your permission.   Some of us remember a quaint concept called privacy. Agencies can usually discover your location and track your actions.  Cell phone GPS location tracking is routine […]

Cyber Policy – Harmony Worth Considering

Harmonized regulation of cyber-matters could achieve better results for the US and the EU.   Current clashes between US and EU rules on cyber privacy and security undermine US success in the EU.  It is difficult for internet commerce to simultaneously comply with incompatible sets of rules on consumer privacy and law enforcement. The disparate regulatory […]

Targeting Security Beyond Target

The financial affairs of 40 million Target cardholders were placed at higher risk because of a cyber theft.  Target has released little information on what happened, and some reports suggest Target underperformed in handling the deluge of customer complaints about the security breach.  In response to the risks, Citi has limited the daily value of […]

The Threat of Cyber-Attacks

The United States faces many threats around the world, but perhaps the newest threat facing the US is that posed by cyber threats, both foreign and domestic.  It also might be the area where the US is most vulnerable, as the government currently seems wholly unprepared to deal with the various threats to our financial, […]