Federal authorities in New York have charged 23 individuals for the roles they allegedly played in a $2 million counterfeit payment card scheme. Cooperation between retailers and law enforcement was vital to the takedown.
Call center fraud is one of the leading threats that financial institutions will battle next year because fraudsters consider the centers to be an easy target. But what can be done to mitigate this threat?
While U.S. payments networks and card issuers are planning to transition to EMV cards, Gartner analyst Anton Chuvakin says they could be wasting their time. It may be too late for this chip technology in the U.S.
Hackers have pilfered some 2 million user passwords and credentials for Facebook and other social media and Internet sites, according to IT security provider Trustwave. The hackers attacked computers in about 100 nations.
Chase says hackers compromised servers for the bank's UCard Center website for prepaid card accountholders, potentially exposing card numbers. The bank is not reissuing cards, but it's offering free credit monitoring.
ATM skimming attacks, and subsequent fraud losses, are increasing, even in European markets where EMV chip cards are the standard. Learn why some experts predict a continued surge in skimming in the months to come.
In the wake of a surge of lawsuits, bipartisan Congressional support is building for a measure designed to help protect banking institutions from frivolous patent infringement claims, says NAFCU's Brad Thaler.