Is Chip and PIN on the horizon?
The Payment Card Industry rules are policies retailers must follow to keep consumer credit and debit card information safe. But with data breaches still occurring on a regular basis there are some questions as to how much they protect consumers.
In late March, the U.S. House of Representative’s Committee On Homeland Security’s Subcommittee On Emerging Threats, Cybersecurity, and Science and Technology held a hearing “Do The Payment Card Industry Data Standards Reduce Cybercrime?”
The concern is that stolen credit card numbers are used to fund terrorists. Rita M. Glavin, acting assistant attorney general for the criminal division at the U.S. Department Of Justice, cites one case in Indonesia.
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