As part of its ongoing push toward cashless payments, India is taking steps to ramp up the use of contactless payments, which are already becoming more common in Japan, South Korea, Australia, the U.K. and the U.S. What can be done to balance security vs. convenience?
The Reserve Bank of India intends to do away with the one-time password authentication process for online transactions. In a step in that direction, for the first time, it's allowing widespread tokenization of debit, credit and prepaid card transactions to enhance the safety of digital payments.
A Juniper Research analysis of why card-not-present fraud will continue to grow leads this week's edition of the ISMG Security Report. Also featured: Updates on a Neiman Marcus breach lawsuit settlement and a German hacking incident.
Forty-three states have reached a settlement with Neiman Marcus over its 2013 data breach, one of several breaches from that period blamed on in-memory malware. The retailer will pay $1.5 million and must use encryption and tokenization to protect card data.
Although the Reserve Bank of India mandated that banks complete the shift from magnetic stripe debit and credit cards to EMV chip-and-PIN cards by Jan. 1 to help reduce fraud, there's still plenty of work to be done.
We no longer live in a Web only world. Consumers are increasingly interacting across multiple touchpoints, particularly digital channels. Today, over half of all transactions originate from a mobile device or app, and as a result, fraud in the mobile channel has increased over 600 percent in three years. With so many...
Card-not-present fraud will cost retailers worldwide $130 billion between 2018 and 2023, a new report from Juniper Research predicts. Steffen Sorrell, author of the study, explains the reasons behind this growth projection and describes what can be done to improve the fight against fraud.
Leading the latest edition of the ISMG Security Report: Microsoft's Joram Borenstein highlights his top three areas of focus for 2019. Plus, Randy Vanderhoof of the US Payments Forum on securing card transactions in the coming year.
Account takeover is a rapidly growing arena for cybercriminals. How can organizations strengthen both authentication and authorization? Scott Olson of iovation, a TransUnion Company shares his insights.
Although CERT-In says the hacking of Indian websites declined dramatically this year, based on reports it has received, some security experts argue that many hacking and other cybercrime incidents are never reported.
Payments technology changes rapidly, but cybercriminal techniques are having no trouble staying one step ahead. As the use of stolen data and fraudulent cards becomes more difficult, criminals are now shifting their focus to customer payment transaction data. The risk of data theft is very real. To stay ahead,...
What security steps does India need to take as it continues its shift to digital payments? Nitin Bhatnagar, the new associate director for India for the PCI Security Standards Council, offers insights.