Recently, many data breaches have come to light in the retail industry. But, this week, another data breach was revealed in the hospitality industry — reminding consumers and businesses alike that security is important wherever payment cards are swiped.
- On Monday, Janet Yellen takes the oath of office as the chairwoman of the Federal Reserve board of governors, succeeding Ben Bernanke. Yellen assumes the top position at the central bank as the Fed begins to taper its bond-buying program amid an improving U.S. economy. Yellen’s term as chairwoman ends in 2018.
- The Better Business Bureau issued an alert to consumers regarding a small charge that is being reported by some victims of an apparent credit card scam. Many people have been reporting a suspicious charge of $9.84, a possible test charge to see if stolen card information is valid. The scam is thought to be unrelated to the recent Target data breach. Consumers are advised to always monitor their financial accounts for such charges.
- Another major data breach has come to light. This time, a hospitality company called White Lodging, which maintains Hilton, Marriott, Sheraton and Westin hotel franchises, was reportedly hit by a data breach that compromised guests’ debit and credit card information. It is unclear how the breach occurred, what type of customer information was stolen and how many customers were affected.
- This week, the National Retail Federation (NRF) is scheduled to testify before a hearing on data security, which is being held by the Senate Banking, Housing and Urban Affairs Committee. The topic of discussion is the improvement of payment security on the part of banks and card issuers.
- On Friday, Discover customers will no longer be able to generate Secure Online Account Numbers, temporary account numbers that are used for safer online shopping. The credit card issuer did not give a reason for the terminating the program, but notes that it affects a small number of issuers. On March 16, all Secure Online Account Numbers will expire.