Losses linked to retail breaches have fueled class action lawsuits on behalf of consumers. But Javelin's Al Pascual says banks are soon likely to take legal action, too, in breach cases that expose cards and lead to fraud.
Despite what's now been a two-month break from hacktivists' DDoS attacks on banks, we can expect more assaults from Izz ad-Din al-Qassam Cyber Fighters. And this next wave should concern us all. Here's why.
New payments technology, such as mobile and emerging e-commerce transactions, is posing challenges for PCI compliance, says the Standards Council's Jeremy King. What are the greatest risks to card security?
The OCC's DDoS risk warnings to community banks may indicate more regulatory scrutiny is on the way. Banks should prepare for more oversight of their cyber-attack reporting and threat mitigation practices.
Another organized cyber-attack and subsequent cash-out scheme illustrates increasing risks to the U.S. payments chain. One fraud expert says this trend "is of grave concern" for banking institutions and their accountholders.
Financial fraud expert Joe Rogalski explains why card issuers are ultimately responsible for losses linked to ATM cash-out schemes, like the $45 million worldwide cyberheist that made headlines last month.
How could global fraudsters steal $45 million from banking institutions without being detected or stopped? It was a process breakdown, not a technology failure, says fraud expert Avivah Litan of Gartner.
When President Obama comes face to face with China's President Xi Jinping, don't expect the American commander in chief to present an ultimatum over Chinese cybersecurity assaults on critical U.S. IT systems.
Attacks aimed at mobile devices are progressing much more rapidly than any attacks ever waged against PCs. Organizations are in danger if they don't pay attention, says anti-phishing expert Dave Jevans.