ISR News: Avivah Litan - “Visa’s next…?”
Excerpts From Pin Payments Blog
In an article scheduled for next months Bank Technology News, Rebecca Sausner talks about the call and the need for systematic reform in the payments industry. The main theme of the article is to adopt an End (Beginning) to End Encryption standard.
One of the more eye-opening quotes comes from Avivah Litan, distinguished analyst from Gartner, who asks “How much worse can it get than a top 10 processor being breached? Let me remind you Avivah Litan predicted that hackers would target the payment acquirers/processors months ago. I believe it was shortly after the Hannaford breach.
Now, with 3 processor/acquirer breaches in 3 months, it appears she’s the Nostradamus of the financial transaction world. So when one of her “quatrains” predict that “Visa’s next…” I, for one, wouldn’t write that off as being overly cautious (or pessimistic). HomeATM CEO, Ken Mages, (who’s also a “see-er) saw the same writing on the wall years ago. Difference is, he’s was in a position to, (and has already done) something about it. Ms. Litan states that Visa needs to start seeing the same thing…or they’re next.
Filed under: Breach, D&O Liability, Financial, ISR News, Insider Threat, PCI, Sarbanes-Oxley, Uncategorized, hackers, identity-theft, malware, privacy
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