FBI and Department of Homeland Security agents have arrested two men on charges that they stole $5.8 million using reloadable debit cards, which they funded by tricking to threatening victims into adding funds to a money-sending service.
The developer of CurrentC, a mobile wallet application, has confirmed a breach at its e-mail provider, which has resulted in the compromise of e-mail addresses for those participating in a pilot program or who requested information about it.
Sophisticated threats require advanced threat protection. A threat-focused next-generation firewall must adhere to three strategic imperatives. Learn how these imperatives improve defense against advanced threats.
Many issuers of chip-based credit cards will likely allow U.S. consumers to complete transactions with a signature, not a PIN, which will limit the fraud protections offered by EMV cards, says Citizen Financial Group's Tim Webb.
Visa is working closely with U.S. banking institutions and retailers to enhance payments security and push the migration toward EMV, says the card brand's Eduardo Perez, a featured presenter at ISMG's Fraud Summit New York.
In his keynote address at the ISMG Fraud Summit New York on Oct. 21, PCI's Bob Russo predicts credit card fraud will significantly rise in the short term as EMV payment cards get rolled out in the United States. Find out why.
Staples has confirmed that it's investigating a potential data breach after a report warned that elevated levels of payment card fraud had recently been tied to card numbers used by consumers who shopped at the office supply retailer.
While fraud-fighting experts are debating the long-term impact President Obama's "BuySecure Initiative" will have on speeding EMV adoption in the U.S., they agree the president is drawing attention to the need for stronger card security.
In the wake of recent payment card breaches, President Obama is taking steps to speed the adoption of EMV cards. He's also calling on Congress to enact a national data breach notification law and announcing a White House summit on consumer cybersecurity.
Alleged Russian hacker Roman Valerevich Seleznev, arrested earlier this year, is facing 11 additional charges tied to the theft of credit card information for later sale on underground "carding" websites.