Yesterday, U.S. retailers spoke to a U.S. Senate panel about the recent breaches. Mark Bower, VP of product management at Voltage Security writes:
"While it’s encouraging to see Target strategically embrace EMV, it’s necessary to look at mitigating threats to data that EMV unfortunately doesn't protect. EMV, aka chip and PIN in Europe or chip and signature in the US, helps reduce card cloning which was a top fraud problem in the 90’s when EMV was first specified. However, the UK Experiences over the last several years [1] clearly show that the stolen data from EMV systems can be re-purposed for fraud in non EMV and Card-Not-Present scenarios (i.e. e-commerce), resulting in a major surge in online transaction fraud; something the US needs to prepare for.
- Mark Bower, Vice President, Product Management at Voltage
- Talking Point
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