FICO's Mike Urban says more questions than answers surround the Durbin amendment's future impact on fraud prevention. But bankers and the Fed may get a two-year reprieve to evaluate the legislation, if a new bill now before the Senate passes.
North American Clearinghouse Association, not the government, led the effort to move Food Stamps to e-payments. That's what the government wants to do with the National Strategy for Trusted Identities in Cyberspace initiative, the fed's NSTIC point man says.
SWIFT says globalization, regulation and the introduction of new services from non-financial providers will set the tone for 2011. But increasing transaction volume and the convergence of payment technologies from differing global markets also pose their own challenges.
Verizon's newly-released 2011 Data Breach Investigations Report finds that the number of compromised records has dropped dramatically, but incidents are up, and hackers are still finding new ways to get into systems and servers.
Heartland Payment Systems hacker Albert Gonzalez seeks to overturn his conviction and 20-year sentence, a record for a computer breach, maintaining he committed his crimes with the knowledge of his Secret Service handlers.
Experts say banks and retailers are doing all they can to control concerns in the aftermath of the Epsilon e-mail breach, and a well-crafted e-mail fooled an RSA employee into opening a phish that led to a sophisticated attack on the company's information systems.
Most furloughed federal employees would have had to turn in their BlackBerries and other mobile devices in a U.S. government shutdown. Just as well, using the technology could have resulted in an employee landing in the slammer.
A U.S. District Court in Texas granted motions made by acquiring banks Heartland Bank and KeyBank to dismiss civil actions brought against them for their involvement in the 2009 Heartland Payments Systems data breach.
A well-engineered, low-tech cash advance scheme against banks in several states proves financial institutions have let their guards down when it comes to old-fashioned face-to-face fraud, according to a new alert.
Secret Service Agent Todd Bagby says cash-advance schemes are easy to fight, if banks follow best practices and in-house guidelines. "Banks should just follow their own protocol and use their own contacts to identify the person on the other end of the line."
The Department of Homeland Security works with RSA to investigate the sophisticated attack aimed at RSA SecurID two-factor authentication products, and card fraud linked to pay-at-the-pump gas terminals in Arizona tourist spots is on the rise.