While the U.S. migration toward EMV card technology may have been jolted by a July court ruling, Randy Vanderhoof of the Smart Card Alliance contends the movement toward EMV will accelerate in 2014.
The final version of the FFIEC's guidance on social media use clarifies how banks should assess consumer and third-party risks. But suggested controls for employee risks are still missing.
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.
U.S. banking institutions need to develop payments strategies to deal with virtual currencies, such as Bitcoin, even if the security risks are not yet fully understood, says Fiserv's Mike Urban.
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.
As U.S. banking institutions make the EMV migration, fraud will migrate from payments cards to areas such as check and first-party fraud, says Fiserv's Mike Urban. How must institutions prepare?
A new takeover scam that the FBI calls a "man-in-the-e-mail" attack has drained $1.65 million from three Seattle-area businesses' accounts. Learn what steps to take to avoid becoming the next victim.
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.
ATM cash-outs and card-skimming schemes are getting more difficult to detect because today's attacks are global, coordinated and sophisticated, says ATM security expert Chuck Somers.
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?
The breach of a card loyalty marketing company that exposed card data and other personally identifiable information illustrates the privacy vulnerabilities third parties pose, experts say.
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