P.F. Chang’s the Latest Security Breach Victim

P.F. Changs is kicking it old school to prevent fraud, implementing manual card imprinting at its locations across the United States. But the move isn’t out of left field – news broke earlier this week that the chain had fallen victim to a security breach that left sensitive customer credit and debit card data exposed. It has brought in forensics experts and the U.S. Secret Service to investigate the incident. “At P.F. Chang’s, the safety and security of our guests’ payment information is a top priority,” said CEO Rick Federico, in a statement posted to the restaurant’s website. “Therefore, we

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Contactless Payment to Blame for Spike in Fraud Offences?

Countries that have implemented EMV technology have generally reported a dramatic reduction in credit and debit card fraud. However, a new popular way to pay has led police in Australia to issue a formal warning. Police say “deception offences” have skyrocketed by 45 percent in Victoria, and are being attributed to tap-and-go payments. Customers can make purchases of up to $100 by holding their card against a transmitter in the payment terminal, which communicates with the card via a microchip and small radio frequency antenna. It does not require a signature or PIN for verification. Because of this, police say

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Spotify is the Latest Hack Victim

If the latest trend doesn’t change, 2014 might be considered the Year of the Hack. Unfortunately, Spotify – the popular music streaming site – is the latest high-profile company to fall victim to a hack. Although it has 10 million paying users, and 40 million users in total, Spotify says that no financial data has been accessed. Some users will need to re-enter, but not change, their log-in credentials and Android users will be forced to update their app in the coming days. “We’ve become aware of some unauthorised access to our systems and internal company data,” chief technology officer

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eBay hacked

eBay Falls Victim to Huge Hack

Online auction hub eBay has fallen victim to a hack which targeted user data including email addresses, birthdates, encrypted passwords, addresses, phone numbers and other personal information. eBay reps say no credit card or PayPal payment information was accessed in the attack, which took place in February and March of this year. The breach affected 145 million accounts and all active users have been asked to change their passwords, even though eBay has suggested the data is safe. “There is no evidence of impact on any eBay customers,” eBay spokeswoman Amanda Miller was quoted as saying. “We don’t know that

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FTC Sending Refunds in Credit Card Scheme

Nearly 5,000 consumers defrauded in a credit card telemarketing scheme should soon receive refund checks in the mail. The Federal Trade Commission (FTC) announced recently that refunds were rolling following the July 2013 settlement with National Card Monitor, LLC. As part of the decision, Arizona-based National had its assets frozen, and was banned from telemarketing or otherwise selling credit card related products or services. The issue dates back to 2011, when the FTC says National began cold calling with the promise it could obtain low-rate credit cards for consumers, allowing them to transfer their current balances to save money on

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Big Changes in Wake of Target Security Breach

Target has taken the next step in its recovery from last year’s massive credit card security breach by appointing a new chief information officer and announcing big changes to its customer loyalty cards. Bob DeRodes will step into the CIO role on May 5. His hiring illustrates the retailer’s push to regain consumer confidence after 70 million customers had their confidential information compromised – DeRodes has acted as an advisor to the Department of Justice, the Secretary of Defense and the Department of Homeland Security. “Establishing a clear path forward for Target following the data breach has been my top

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Credit Card Interest Rates on the Rise

It’s easy to be lured into a signing up for a credit card that has a zero percent interest rate for an introductory period. But after the honeymoon is over, companies nail the consumer with ever-increasing rates. According to CardHub’s Landscape Report, the average credit card interest rate in the United States now sits at 21 percent, a two percent increase from last year’s figures. “Credit card interest rates were higher across the board during the first three months of 2014 relative to the same period last year – rising an average of 2.12 percent on a year-over-year basis,” the

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Protect Yourself From Heartbleed

Unless you’ve been unplugged the last 24 hours, you’ve heard the breaking news about the biggest security flaw to hit the Internet – the Heartbleed bug. The Internet encryption vulnerability impacts all websites using Open SSL encryption, which is about two-third of all websites currently online. The announcement has caused widespread fear, with people questioning if their passwords, and personal and credit card information has been left vulnerable after years of online purchases and electronic banking. A slew of heavy hitters, including Google and Facebook, say they’ve implemented a patch to prevent any further issues. But it has crippled others,

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Canadians Plagued by Credit Card Flight Scams

Just about everyone has won enough “free cruises” to take an entire year off of work. However, calls that promise free flights from known companies may appear a little less suspicious. Nevertheless, beware of any caller promising cash credit towards free flights in exchange for credit card information because it is most certainly a scam. The Calgary International Airport reports scammers have been using automated messages pretending to be airport officials in their calls. The airport has no involvement in any such calls, and is warning the public if you receive one, it is most certainly fraudulent. The scam itself

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Walmart Files Lawsuit Against Visa

                The world’s biggest retailer is ready to face off against a credit card giant in court over allegations of transaction fee fixing. Walmart recently filed a big lawsuit against Visa, alleging the company conspired with banks to fix transaction fees. This, says Walmart, violates federal antitrust laws, and is seeking at least $5 billion in damages. The lawsuit is similar to one filed by U.S merchants against Visa and MasterCard. It wrapped up late last year, with a judge handing down a $7.5 billion settlement in favor of the retailers. Walmart had

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