There is an organization governed by visa and mastercard. They control the technology that is the backend for these smart chips. One of our Lessons Learned early on is they manage the process well. Its an indicator that we have huge concerns about them being involved in transitioning the u. S. To digital and mobile commerce in the future. Thats one of the biggest lessons and takeaways for merchants who have had to rely on the companies for this major transition. Some members of congress of started to look into this and how its organized in governed. We need to ask why we dont have a more robust four pin here in the United States. There are branches of the Federal Reserve studying security who point to the development of standards which they directly and explicitly reference. It may result in lesser security as well as competitive disadvantages for other companies. We have seen that happen here in the u. S. What does this mean . We do believe that merchants will get there eventually. Th
Were highlighted in president obamas executive order that required technology for government issued credit cards and in a pride of the old terminals at federal buildings. Others have recognized that security benefits of combining chip cards with pins. In the last two weeks, discover, one of the largest card brands, embraced the willingness to use pins. New york had a consumer alert stating in part that chip cards that require a personal Identification Number could be entered at a pointofsale to make a purchase and they are the most secure. Over the last year, the payment industry has rebutted arguments in favor of this by saying one day we will move beyond the pen. Even if thats true, there will always be a Better Technology available down the road. It doesnt make sense to make the American Public stand by and wait for an alternative while they remain susceptible to fraud. Traditional credit and debit cards account for the overwhelming majority of all transactions in the United States
Also this week, aqap released instructions on how to make a new, difficulttodetect explosive and urged followers to use the bombs aboard u. S. Airliners. Al qaeda appears to have financed the kouachi brothers with 20,000 to assassinate the editors and cartoonists of Charlie Hebdo. French investigators suspect that their spree was not intended to end in a shootout at a printing plant near Charles Degaulle airport, but with the shootdown of an airliner using grenade launchers the terrorists possessed but never fired despite several gunfights with police. Last sunday, 3. 7 Million People rallied in cities across france to support freedom of speech and show solidarity. In paris, more than 40 World Leaders, including the u. K. s David Cameron, german chancellor Angela Merkel israels benjamin netanyahu, and the Palestinian Authoritys Mahmoud Abbas attended a march of some 1. 6 million parisians. Conspicuously absent, any american official higher than the ambassador, an oversight the white ho
Richard carmona will give an update on the latest research to improve survival rates from ieds and mass shooting incidents. We will also take your phone calls and you can join the conversation on facebook and twitter. Journal, live each morning at seven eastern on cspan. An executive from target said the company is investing 100 million to upgrade to a more advanced credit card system following the hacking of customer data. Testifying before a senate committee, the target cfo was asked about the Holiday Season cyber theft that has exposed the personal or Financial Data of millions of u. S. Shoppers. Because of the time of the opening of the senate, we are starting a little bit late. I apologize for that but i appreciate everybody who is here , from all over the state, including now snowing colorado. Were going to need to examine how we can protect americans, the growing danger of data breaches and cyber crime in the digital age. Safeguarding American Consumers and businesses from data
Folks who have an oepiate disorder, they will often tell you and you will see they started with early tobacco, early alcohol and early marijuana use. But mr. Botticelli, thats a logical fallacy, thats true but that begs the question that millions of americans, 4 50 million, have used marijuana and didnt go on to other drugs. We have to desegregate the addictive personality from the recreational occasional user. I mean nothing norm tif by this. I said in my opening statement, im a child of the 60s and leery of legalizing any drugs. Ive seen the damage. But i want us to be basing fact on the matter is the war of drugs doesnt look like it work very well in Public Opinion and demand. Whereas other campaigns that are voluntary. Actually have worked. So maybe we could learn something from that as opposed to incarcerating, especially minority populations in this country and that doesnt seem to work either and doesnt seem to reduce demand. Representative connolly, i think just focusing on mari