Pradeep Moudgal of California-based SVB says the bank's decision in June to migrate commercial credit cards over to EMV was easy. "The biggest advantage of the chip card, at the end of the day, is to reduce fraud," he says.
Roger Baker, CIO at the VA, says desktop computers will eventually phase out, as mobile devices become predominant channels for communication and work. That evolution has made plans for ongoing mobile security a priority for organizations that cross every business sector.
Links between card-skimming attacks and ID theft are getting notice from U.S. federal prosecutors. But are the sentences being passed down from the courts strong enough to deter fraudsters?
What fraud and security issues does Paul Smocer, the new president of BITS, see as being top concerns in the coming year? Mobile payments, social media, and a strong need for institutions and organizations to comply with existing guidance top the list.
"If the rate is not increased, it won't be good for the industry. It will put a damper on the spending for anti-fraud technologies," says Steve Kenneally of the American Bankers Association.
Facial recognition, arguably, is the technology that most threatens individual privacy online, and that's on the mind of Senate Commerce Committee Chairman Jay Rockefeller, who has asked the FTC to report on its growing use.
Investigators have linked a retail-credit scheme to a pair of fraudsters who are believed to have stolen $9 million from 8,000 victims. How could such a scheme go undetected for 15 years?
A Pasco County, Fla., man has been charged for his involvement in a summer skimming spree that targeted Bank of America ATMs. Why do authorities believe he likely has connections to an international crime ring?
The Durbin Amendment to the Dodd-Frank Act brought enormous change to the payments industry. But within this change comes a whole new value proposition for the PIN debit network - and for institutions' efforts to fight fraud.
Winn Schwartau says the BlackBerry disruption this past week (see BlackBerry Disruptions: Where to Start?) hit at the heart of one of the fundamentals of IT security: availability.
The disruption of text messaging and Web browsing for BlackBerry customers opens up issues of company transparency and business continuity. How should the company have responded?
Skimming incidents at bank branch ATMs and vestibules are adding up to huge losses. One bank says it could easily lose $50,000 over one weekend at a single ATM. So, what can institutions do to deter and detect skimmers?
These arrests also highlight the U.S. vulnerability to crimes involving payment cards with magnetic stripes. "The U.S. is a criminal's playground right now," says John Buzzard of FICO Card Alert Service.
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