Fergie's Tech Blog

Data Theft, Breaches: Where Do You Place the Blame?

Brian Fonseca writes on NewsFactor Network:

Gartner analyst Avivah Litan said that banks are not yet taking adequate measures to comply with the Payment Card Industry (PCI) standards. "There has not been a lot of enforcement at the bank level," she said. "All the enforcement scheduled has been on the processing and retailer side, so it has been unfair, frankly."

A panel of financial services and retail executives disagreed on which side bears the brunt of the burden to ensure compliance with the Payment Card Industry (PCI) Data Security Standard.

Executives from JPMorgan Chase & Co. and First Horizon National Corp. told an audience at Symantec Corp.'s Vision user conference here that high-profile data breaches at retailers like The TJX Companies Inc. are not originating from their side of the fence -- yet they must spend significant sums to make sure such incidents don't happen.

posted by Fergie @ 7/06/2007 02:05:00 PM