Speculation about the pending update to online authentication guidance has been circulating around water coolers for months now. "A [disclosure] like this could make it more challenging for the regulators," says attorney David Navetta.
When a database breach occurs, consumer notification continues to be a public problem, and it's time for the federal government to step in, says Linda Foley, co-founder of the non-profit Identity Theft Resource Center.
The U.S. reliance on the magnetic stripe is having global consequences. European countries that have made the shift EMV say they are suffering from higher-than-ever incidents of ATM skimming because of the lingering mag stripe.