Payroll fraud, kiting - these are among the latest threats to Automated Clearing House (ACH) payments, which are gaining extra attention from fraudsters.
There will be 25 billion ACH transactions occurring annually by 2010, estimates NACHA, the electronics payment association. Many of these transactions will be...
MasterCard will use a cryptographic countermeasure technology in its smart credit cards to protect them from being tampered with or read by hackers. Cryptography Research, Inc. and MasterCard Worldwide announced that they have signed an agreement relating to Cryptography Research's patent portfolio covering...
President Barack Obama Thursday pushed Congress for immediate action on steep rate hikes and predatory fees that credit card companies are imposing on card holders.
Saying that "Enough is enough; it's time for strong and reliable protections for our consumers," Obama told a town hall meeting in New Mexico.
The Heartland Payment Systems (HPY) data breach has already cost the card processor millions in fines from Visa and MasterCard.
This news was revealed by CEO Bob Carr in Heartland's recent earnings call, wherein Carr said the much-publicized breach has already cost the company $12.5 million.
The federal judge who heard the collective civil claims filed against the Hannaford Bros. supermarket chain issued his opinion on the 21 claims on Tuesday in Portland, ME. All but one of the 21 civil claims filed against the supermarket giant for alleged failure to protect consumers during the company's network breach...
The nation's financial services system U.S. financial system is beginning to adjust, and lending is beginning to improve. But more restructuring is still ahead for the industry, says Treasury Secretary Timothy Geithner in a speech before the Independent Community Bankers of America (ICBA).
There are more opportunities than ever for skilled information security professionals.
This is the belief of Gerald Masson, Director of Johns Hopkins University Information Security Institute, and in an exclusive interview he discusses:
Job prospects for information security professionals in the public and...
The work done thus far by banks to raise capital is "encouraging," says Federal Reserve Chairman Ben Bernanke, who requests firms to identify other risks through internal stress tests.
The announcement by Heartland Payment Systems (HPY) that it will offer its merchants end-to-end encryption capabilities is seen as a positive step by industry experts. Yet, these same experts also warn that this measure will not solve all of the security issues that Heartland and other payment processors face from...
A Bremerton, WA-based institution, Westsound Bank, was closed on Friday by the Washington Department of Financial Institutions. It is the 33rd FDIC-insured bank to fail in 2009. The FDIC arranged for the failed bank's deposits to be sold to Kitsap Bank Port Orchard, WA.
Information security policies and procedures are the cornerstone of any information security program - and they are among the items that typically receive the greatest scrutiny from examiners and regulators. Cursory, disconnected or poorly communicated security policies will fail and likely drag down the overall...
The stress test results are in, and the news is that of the 19 banks evaluated, 10 will need to raise additional capital -- another $75 billion in total. These stress tests were seen as a major indicator of the level of stability in the banking industry, which is held as a foundation to the country's recovery from the...
The Chairman of the Federal Deposit Insurance Corp. sees a change is needed to oversee big institutions that may put the entire economy at risk.
Sheila Bair's comments came a day before the stress test results of the nation's 19 largest banks were to be made public.
Federal Reserve Chairman Ben Bernanke told the Congress' Joint Economic Committee that the economy should begin growing again later this year. This testimony is Bernanke's most optimistic outlook of the national economy since the recession began.
It's a simple proposition for successful applicants to the Scholarship for Service (SFS) Program: Get your information security education paid for, and then come work for the U.S. government.
"It's one of the most generous scholarships I've ever seen," says Victor Piotrowski, Lead Program Director of SFS for the...
Our website uses cookies. Cookies enable us to provide the best experience possible and help us understand how visitors use our website. By browsing bankinfosecurity.com, you agree to our use of cookies.
