After Target's $67 million settlement with Visa to reimburse banks for expenses related to the retailer's 2013 breach, MasterCard confirms it is weighing a new deal. Will settlements derail a pending lawsuit against the retail giant?
Visa and Target have reached an agreement that reportedly will reimburse card issuers a total of up to $67 million for fraud losses and expenses tied to the retailer's 2013 breach, which exposed some 40 million payment cards.
High-profile retail data breaches have captured the attention of executives and policymakers alike. Beyond the financial consequences, there is one positive outcome: a renewed focus by financial institutions and retailers to advance payment system security. In this exclusive session from ISMG's Toronto Fraud Summit,...
In June 2012, restaurant chain Penn Station was among the first retailers hit by a POS breach linked to malware. Here, in an exclusive interview, President Craig Dunaway discusses the lasting impact of the breach.
Neiman Marcus has asked a federal court to reconsider its decision to allow a consumer class-action suit to go to trial. If the retailer fails, legal experts say, it could mean a costly setback for breached entities.
With the growing popularity of mobile banking, multiple new threat vectors are being introduced and many are already being widely utilized for malicious purposes. This makes security and fraud prevention one of the key concerns for many banks. At the same time, as users demand more convenience, mobile banking has the...
News that charges were filed last week against two California residents for their alleged roles in the 2011 Michaels crafts stores breach, which involved terminal tampering, is a reminder of how much hackers have improved their techniques in just four years.
Julie Conroy of the Aite Group analyzes why a new report shows most top-tier North American banking institutions expect to increase their spending on online and mobile fraud mitigation in the next two years.
The prices for stolen payment card data and other cybercrime products and services on Russian underground forums continue to fall. But the cybercrime ecosystem is more automated, effective and robust than ever, Trend Micro reports.
When Benjamin Wyrick of VASCO Data Security looks toward 2016, he sees financial institutions embracing new mobile banking apps that are at once convenient and secure. What are the keys to making his vision a reality?
Visa's Eduardo Perez says one of the key merchant vulnerabilities his company is most concerned about is weak remote-access controls for point-of-sale systems and devices. He offers risk mitigation advice in this exclusive interview.
The Consumer Financial Protection Bureau's new recommendations, including security steps, for the development of faster payments are raising questions among security experts. One contends some of the guidelines could do more harm than good.
Gordon Werkema, who is leading the Federal Reserve's initiative to revamp the U.S. payments infrastructure, describes his security priorities as the move to faster payments progresses.
EMV Here We Come. Now that the U.S. has finally embraced secure-in-person transactions with EMV, we'll examine how the transition and the rollout will affect the rate of card-not-present (CNP) fraud and other online transactions. Join our panelists as we discuss such topics as how fraudsters will exploit the CNP...
While retail operations demand faster payments systems, fraud is on the rise. The Federal Reserve Bank, which provides payments services and support to financial institutions across the United States, is front and center in the fight to develop requirements needed for real-time payments. The latest on the Payments...
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