Poor post-breach communication can cause as much damage to a company's reputation as the cyber-incident itself, says Al Pascual, a senior analyst at Javelin Strategy & Research, who will speak at ISMG's Fraud Summit Dallas.
The developers of the Backoff point-of-sale malware that's infected more than 1,000 U.S. businesses have continued to refine their attack code, including encrypting communications and making the malware tougher to spot or eradicate, researchers say.
The Dutch government this week upheld a 2012 U.S. extradition request for Vladimir Drinkman, who's accused of masterminding the "Shadowcrew" team that hacked Nasdaq, 7-Eleven and others, stealing 160 million cards and causing $300 million in damages.
A foreign currency flaw in Visa's EMV-based contactless payment card system in the U.K. could be abused to commit fraud using NFC-enabled Android devices, researchers say. But Visa discounts the possibility of real-world attacks succeeding.
The debate between leading retail and banking associations over accountability for card fraud has heated up in recent weeks. One retail group now says claims about merchant security and fraud liability have been misstated.
FBI and Department of Homeland Security agents have arrested two men on charges that they stole $5.8 million using reloadable debit cards, which they funded by tricking to threatening victims into adding funds to a money-sending service.
As a result of the Home Depot breach, which compromised 56 million cards, credit unions have spent nearly $60 million dealing with card reissuance and fraud costs, according to the Credit Union National Association.
The developer of CurrentC, a mobile wallet application, has confirmed a breach at its e-mail provider, which has resulted in the compromise of e-mail addresses for those participating in a pilot program or who requested information about it.
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What security and technology issues are top concerns for 2015? The transition to new payment methods and shoring up gaps in basic security practices, according to industry leaders at two ISMG summits last week.
Many issuers of chip-based credit cards will likely allow U.S. consumers to complete transactions with a signature, not a PIN, which will limit the fraud protections offered by EMV cards, says Citizen Financial Group's Tim Webb.
Visa is working closely with U.S. banking institutions and retailers to enhance payments security and push the migration toward EMV, says the card brand's Eduardo Perez, a featured presenter at ISMG's Fraud Summit New York.