Sioux Falls, SD
In the last month alone, there have been dozens of data breaches to businesses where people's personal financial information has been stolen.
KELOLAND credit card issuers have to send out alerts anytime these breaches affect their customers.
From professional hackers trained to spot weaknesses to sophisticated software, credit card companies look for ways to prevent someone from stealing your card.
"There are a lot of technologies we have and they are there not only to protect us and prevent things from happening, but also to detect. How could you possibly get gas in this state and then in this state 500 miles away within two hours of each other. Those systems on the backend are getting more intelligent,” PREMIER Bankcard's Director of Information Security Chuck Cinco said.
Angela: "The computer knows more about us?"
Chuck: "The computer can analyze, yeah yeah."
From tracking unusual spending to entirely new technology, PREMIER Bankcard's Director of Information Security says changes are coming as cyber criminals get more sophisticated. Much of Europe has adopted the more secure chip and pin, which uses a computer chip instead of a magnetic strip on a credit card.
"I believe in the next two, three or four years you're going to see it probably exclusively," Cinco said.
But switching over is an expensive endeavor.
"The problem is ATM machines aren't really built for it. The point-of-sale devices are not, so you're talking about a massive shift in the retail industry and bank industry to upgrade all this equipment," Cinco said.
Cinco says the bad guys have also figured out businesses' weakest link--the individual consumers.
"Well now you have this little mini-laptop that you're running around with that probably has access to your bank account, maybe electronic wallet that has consolidations of your passwords. That needs to be protected," Cinco said.
Anti-virus software, patches and password changes are more important than ever. The Better Business Bureau is holding a Cyber Security Reality Check for businesses next Thursday.
ATTENTION Small Businesses!
Find Out What You Need to Know
A FREE Seminar on the Impact of Cyber Fraud.
on October 17th 7:30-9:00 AM
National Cyber Security Awareness Month is an annual initiative established to help educate and encourage small business owners to learn and do more to ensure individual and collective digital security and privacy.
The Better Business Bureau and it’s partners offer a FREE panel discussion on the impact of cyber fraud.
The session will help your business make thoughtful, informed decisions that can protect your business, customers, and families against threats and dangers from cyber criminals.
Ben Steinberg - Chief Information Officer Council of Better Business Bureaus
Bill O'Connell - Senior Director Security Program Mgmt. ADP
Josh Pauli, Ph.D. - Associate Professor of Cyber Security Dakota State University
Chuck Cinco - Director of Information Security PREMIER Bankcard, LLC
Moderated by Angela Kennecke, KELOLAND TV
Thursday, October 17th
7:30 to 9:00 AM
Avera Prairie Center
Sister Colman Room
1000 E. 23rd Street
Sioux Falls, South Dakota
To register, RSVP: email@example.com
Your Money Matters