Australian authorities this week said two more arrests have been in connection with an international POS skimming scheme that targeted merchants in the United Kingdom, mainland Europe and North America. So far, 27 people have been charged.
The FDIC is yet again a target for phishing, with fraudulent e-mails urging business owners to click malicious links purporting to provide FDIC information about their financial institution.
Debit fraud and skimming are growing problems, and they're why California-based Fremont Bank is switching from mag-stripe to chip-based debit cards, says Chris Olson, the bank's chief operating and enterprise risk officer.
A months-long investigation led Australian investigators to more than 50 stolen POS terminals, dozens of card skimmers and more than 18,000 blank and counterfeit cards. So far, 25 people have been arrested and charged for their parts in the alleged scheme.
Eduardo Perez says, simply, the "time was right" for Visa's introduction of chip-based payments incentives for U.S. merchants. Visa's new mobile-to-EMV program offers PCI-audit-compliance waivers to qualified merchants who implement dual-interface contact and contactless acceptance.
Adoption of chip technology will not only help the U.S. payments infrastructure prepare for expected acceleration in mobile-based payments, Visa says, but will improve transaction security by providing dynamic authentication.
With the extension of ENISA's mandate into 2013 by the European Parliament & Council, the agency can continue to educate and collaborate with other nations on cybersecurity issues, an area of constant importance.
Though IT business application functions and security-focused practices are expected to be integrated as a single process, secure configuration is the management and control of configurations for information systems to enable security and facilitate the management of information security risk.
As far as Dr. Giles Hogben of ENISA is concerned, now might be the golden opportunity for information security experts to influence the security and privacy measures that may help define Internet safety for the next decade or beyond.
Bob Russo says the long-awaited PCI guidance on tokenization should provide merchants with a baseline for standardization and best practices, and serve as a roadmap for how tokenization can complement compliance with the PCI-DSS.
International collaboration, steeper convictions for those who are caught and government support for the cyberfight are fueling positive progress in the fight against cybercrime.
According to FINRA, Citi's negligence in adequately supervising Tamara Moon, a former sales assistant at a Citi branch in Palo Alto, Calif., resulted in $749,978 being skimmed from the accounts of 22 Citi customers.
A U.S. District Court in Maine has affirmed a magistrate's May recommendation to deny a motion for a jury trial filed in the ACH-related fraud case between PATCO Construction Inc. and Ocean Bank.
When it comes to social media, organizations have to be vigilant and consistent with risk assessments that closely monitor and evaluate emerging threats, says Andrew Kennedy of BITS.
Ian Harper of Pentagon Federal Credit Union says financial institutions should continually review their risk management processes, a recommendation reinforced by the new FFIEC Authentication Guidance.
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