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.
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.
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.
Federal investigators announced five more arrests this week in connection with a $45 million ATM cash-out and prepaid card fraud scheme. Learn why experts expect these types of crimes to become even more common.
Financial institutions and businesses in other sectors must continually collect information about their online customers to ensure stronger authentication, says Avivah Litan, a fraud expert and analyst for the consultancy Gartner.
The breach of a card loyalty marketing company has reignited discussions about the roles banking institutions, regulators and others play when it comes to mitigating third-party risks. Where should the buck stop?
A new set of patent infringement suits is targeting payment card networks, payment processors and e-commerce sites. Meanwhile, the American Bankers Association has endorsed pending federal legislation designed to help curb these legal actions.