The Reserve Bank of India is requiring that payment system operators store all their data domestically. Many security practitioners and payment companies in India have lauded the move, stating that the mandate could lead to quicker resolution of breach cases.
Leading the latest edition of the ISMG Security Report: Assessing cryptocurrencies' role in the latest ransomware and malware attacks. Plus: Facebook's revised estimate on account details accessed by Cambridge Analytica.
The Secure Payments Task Force was established by the Federal Reserve Bank in 2015 in part to determine areas of focus and priorities for future action. Jim Cunha, a member of that task force, talks discusses how to advance payment system safety, fight fraud and ensure resiliency.
Vendor risk management is becoming more critical as companies rely more on partners who have access to payment card data and other sensitive information, says Ramon Lipparoni, IT integration manager at ComAir, a South African airline. One critical step, he says, is conducting impromptu vendor audits.
As mobile payments continue to grow in South Africa, it's important that application developers build security into their apps and correctly implement tokenization standards, says Jeremy King, international director of the PCI Security Standards Council.
A new standard from the PCI Data Security Standards Council could help ease the way for smaller merchants worldwide, especially in developing nations, to move to cashless payments using a variety of devices, says Troy Leach, CTO for the council, who spoke last week at a conference in South Africa.
Al Pascual of Javelin Strategy and Research discusses a new report that shows that while crypto wallets may be considered to be at the sharp end of payments innovation, the security vulnerabilities they face are much the same as those that already exist in digital banking and payments.
Developing nations that are moving to digital payments, especially for the unbanked, need to keep in mind security lessons already learned in other markets, including Europe, says Steve Marshall, founder at Risk-X, a U.K.-based audit and risk assessment consulting firm.
As banking institutions of all sizes maximize their digital channels, there is growing tension between the need to prevent fraud and the desire to maintain a frictionless customer experience.
How do you offer that great customer experience without compromising security, authentication and trust?
In a discussion...
As banking institutions of all sizes maximize their digital channels, there is growing tension between the need to prevent fraud and the desire to maintain a frictionless customer experience. IBM Trusteer's Valerie Bradford discusses how to defuse this tension.
As India continues its move to a cashless economy, the PCI Security Standards Council is collaborating with the Reserve Bank of India and the National Payments Corp. of India to roll out new software-based design standards for protecting cardholder data against new threats, says Jeremy King, PCI SSC's international...
The digital shift is increasing the need for more sophisticated privacy and data protection measures. Several major institutions have seen their information security compromised in recent years as cyberattacks and fraudulent activity show no sign of slowing down. With PSD2 regulations now in effect, companies are in...
The Payment Card Industry (PCI) established the Data Security Standard (DSS) in order to reduce the risk organizations and consumers face in relation to credit card fraud, hacking and various other security issues. A company processing, storing or transmitting credit card numbers must be PCI DSS compliant or it risks...
WhatsApp, the global messaging app that has more than 200 million monthly active users in India, has leveraged National Payment Corporation of India's Unified Payment Interface platform to launch its beta payment service that will allow users to send money to other WhatsApp users, excluding merchant accounts.
Criminals in Europe are annually laundering at least $4 billion - and growing - via cryptocurrencies, warns Europol. The agency is calling on regulators and legislators to regulate cryptocurrencies to help battle money laundering and protect consumers.