Regulation and legislation are working in banking institutions' favor, helping them enhance fraud prevention and detection investments for debit and online banking.
Debit fraud and skimming are growing problems, and they're why California-based Fremont Bank is switching from mag-stripe to chip-based debit cards, says Chris Olson, the bank's chief operating and enterprise risk officer.
A months-long investigation led Australian investigators to more than 50 stolen POS terminals, dozens of card skimmers and more than 18,000 blank and counterfeit cards. So far, 25 people have been arrested and charged for their parts in the alleged scheme.
Eduardo Perez says, simply, the "time was right" for Visa's introduction of chip-based payments incentives for U.S. merchants. Visa's new mobile-to-EMV program offers PCI-audit-compliance waivers to qualified merchants who implement dual-interface contact and contactless acceptance.
Adoption of chip technology will not only help the U.S. payments infrastructure prepare for expected acceleration in mobile-based payments, Visa says, but will improve transaction security by providing dynamic authentication.
"You can do everything, but if you forget to change the keylocks on your dispensers, then you can be breached," says Gray Taylor, security expert at the National Association of Convenience Stores.
Bob Russo says the long-awaited PCI guidance on tokenization should provide merchants with a baseline for standardization and best practices, and serve as a roadmap for how tokenization can complement compliance with the PCI-DSS.
Do patients really want to know the identity of every doctor, nurse, technician, intern, specialist, admin and consulting physician who ever viewed their records?
A consumer advocacy group is calling attention to a little-known fact about seven federal breach notification bills pending in Congress: They would leave certain healthcare information unprotected.
Just over a month after Citigroup confirmed a breach of its online banking platform, a second breach affecting Citi customers has come to light, this time in Japan.
United Nations Federal Credit Union says member satisfaction and acceptance of the chip card have been contagious, since the bank launched the chip option last summer. The chip-card portfolio has proven to be the credit union's most successful.
"The timing and the targets point to China," says cybersecurity policy expert James Lewis. "Spying right before the Beijing Olympics and focusing on Southeast Asia reflects China's larger interests more than those of any other country."
Our website uses cookies. Cookies enable us to provide the best experience possible and help us understand how visitors use our website. By browsing inforisktoday.co.uk, you agree to our use of cookies.