Data breach trends, 2017 predictions, and EMV updates

2016 Data Breach Trends 87 percent of breaches were at businesses with five or fewer locations Gift card fraud continues to be on the rise – 31 percent of the consumers purchase gift cards from gift card malls or kiosks (typically found in grocery/convenience stores). 2016 experienced less of the big breaches such as Targets/Home […]

2016 Data Breach Trends

  • 87 percent of breaches were at businesses with five or fewer locations
  • Gift card fraud continues to be on the rise – 31 percent of the consumers purchase gift cards from gift card malls or kiosks (typically found in grocery/convenience stores).
  • 2016 experienced less of the big breaches such as Targets/Home Depots; instead SMBs took big hits.

2017 Predictions:  Who will be hit hard next year?

  •    E-commerce fraud will skyrocket
  •    Smaller merchants that haven’t  implemented EMV will continue to get hit hard
  •    Only 37 percent of merchants are EMV compliant.

EMV Chip Cards: A look back and a look ahead

  • 1.7 million U.S. merchant locations have turned on their terminals and are accepting chip card payments.
  • 100,000 new EMV terminals were added alone in June.
  • The U.S. is the largest chip market in the world with more cards (VISA) than the U.K. combined, the second and third largest chip markets respectively.  (per Visa, August 2016).   Read more at CUTimes.
Written by
admin
View all articles

About Us

The League of Southeastern Credit Unions & Affiliates represents 342 credit unions in Alabama, Florida and Georgia, with a combined total of $118.63 billion in assets and more than 10.1 million members. LSCU & Affiliates provides legislative and regulatory advocacy; education and training; cooperative initiatives (including financial education outreach); public messaging; information services; and business solutions.

LSCU Mission Statement

To create an environment that enables credit unions to grow and succeed.

LSCU Vision Statement

To be the trusted advocate and preferred source of information for credit unions.

If you need to reach us, e-mail communications@lscu.coop

Social Channels

Follow us on all major social media platforms.