What steps can smaller organizations and their vendors take to ensure security and regulatory compliance? They must transcend what researcher Wendy Nather calls the 'Security Poverty Line.' See how.
Losses linked to debit fraud now exceed losses connected to check fraud, according to a new survey by the American Bankers Association. How are banks responding to the threat?
The Europay, MasterCard, Visa standard, commonly used in most global markets, is coming to the U.S. The sooner issuers, acquirers and merchants initiate migrations, the better, says Stephanie Ericksen, head of authentication product integration at Visa.
Recently discovered viruses, consisting of Trojans and other malware, at City College of San Francisco have stolen personal banking information and other data from perhaps tens of thousands of students, faculty and administrators, says John Rizzo, president of the board of trustees.
A legal dispute between a small merchant in Utah and its former payments processor has fueled a debate over contracts between merchants and acquirers. If successful, this case could spur contractual shifts that change the way card brands view liability after card breaches.
Skimming is a global epidemic, experts say, and global fraud losses linked to skimming will grow in 2012. So how will retailers and financial institutions respond?
Improved collaboration and communication between small businesses and financial institutions is the first step toward improving online security, says Mark Patterson, an ACH fraud victim. What else would help?
U.S. and European institutions can learn from DBS Bank's example. In response to a rash of fraudulent withdrawals that cost accountholders $1 million, the bank is launching a new SMS/text alert service for ATM transactions.
Online shoe and clothing retailer Zappos.com has issued an e-mail alert to more than 24 million customers regarding a newly-discovered data breach of an internal network.
Cyberhackers are increasing their efforts to target online credentials. And phishing attacks waged against accountholders at Chase in the U.S. and Barclays in the U.K. have made it clear that banking accounts are the target.
The insider poses one of the greatest and most damaging security risks any organization faces. So why do so many businesses and institutions fail when it comes to addressing this most obvious security risk?
A 17-year-old was slapped with a 60-day jail sentence after he was busted for skimming credit and debit details while working the drive-thru window at a McDonald's restaurant in Olympia, Wash.
New York law enforcement authorities have announced the arrest of a Romanian national and the takedown of an ATM skimming scheme that compromised more than 40 ATMs at HSBC bank branches in Manhattan, Long Island, and Westchester, N.Y.
John Carlson sees the evolution of technology introducing new threats to financial institutions. So, how will BITS' new VP of cybersecurity and fraud prevention help banks mitigate those risks?
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