Wendy’s Breach Fallout Painfully Illustrating The Need For EMV

A report out on Wednesday (March 2) put the level of fraud being felt by credit unions as far worse than the fraud suffered after the Home Depot and Target breaches, with some CU estimating that the fraud could be ten times those other retail breaches. And much of the pain is being felt at merchants who have yet made the EMV switch.

KrebsOnSecurity reported Wednesday that three different CUs in Ohio reporting higher levels of fraud. One CU president was quoted as saying "We have been getting killed lately with debit card fraud. We have already hit half of our normal yearly fraud so far this year, and it is not even the end of January yet. After reading this, we reviewed activity on some of our accounts which had fraud on them. The first six we checked had all been to Wendy’s in the last quarter of 2015." The story also noted an interesting twist, with some consumer victims repeatedly re-compromising themselves by going to different Wendy's restaurants—some of which had apparently not yet contained the breach.