This week's top news and views: Fraudsters target smaller merchants that might not be PCI compliant. Also, Kevin Sullivan on why anti-money laundering is so important.
Merchants, financial institutions and any other provider in the payments chain can expect to take more responsibility for complying with Payment Card Industry Data Security Standards.
Emerging payments technologies, such as tokenization, are already being deployed in the marketplace, but standardization, as it relates to the security of some of these emerging solutions, is lacking.
This week's top news and views: The arrest of 53 suspects charged with a sophisticated identity theft and fraud scheme gets the attention of federal agents, and the message from the PCI Security Standards Council's annual North American Community Meeting: "Stolen Credit Card Information Is a Commodity That Has Worth."
U.S. merchants and card issuers are taking a closer look at the EMV chip and PIN security standard. But EMV is not the silver bullet, says Jeremy King, the PCI council's European director.
The thousand or so PCI delegates from North America, Asia-Pacific and Europe packed into the opening session prove that global payments security standards are inevitable.
Topics such as encryption and chip and PIN are expected to play significant roles in discussions at this week's Payment Card Industry Security Standard Council Community Meeting in Orlando, Fla.
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