The advent of faster payments has helped accelerate authorized push payment fraud schemes in which victims are defrauded under false pretenses. Banking regulators are responding to the trend, and Rob Tharle of NICE Actimize offers advice for multilayered defense.
The advent of faster payments has helped accelerate authorized push payment fraud schemes in which victims are defrauded under false pretenses. Banking regulators are responding to the trend, and Rob Tharle of NICE Actimize offers advice for multilayered defense.
Tharle, a Fraud and Authentication Subject Matter...
An essential component of protecting payment information is devaluing the data that is transmitted so it's of no use to hackers, says Lance Johnson, executive director of the PCI Standards Security Council.
Machine learning can play an important role in fraud prevention at financial institutions, says Marc Trepanier of ACI Worldwide, who addresses the challenges involved.
Facebook is edging closer to launching its own cryptocurrency, with a rollout expected this year, The New York Times reports. But some critics argue that the project seems more like a trendy and unnecessary redressing of a PayPal-like system with a blockchain.
As more hospitals seek new methods for collecting payments from patients, they face the challenge of securing those transactions, says Dan Berger of AxiaMed, who describes HIPAA and PCI compliance issues in an interview at the HIMSS19 conference.
Digital transformation (DX) continues to drive growth across financial services firms, creating new opportunities to increase revenue and foster innovation. Cloud - whether public, private or a hybrid approach - is foundational to achieving DX objectives, as is secure, resilient and scalable network connectivity....
As part of its ongoing push toward cashless payments, India is taking steps to ramp up the use of contactless payments, which are already becoming more common in Japan, South Korea, Australia, the U.K. and the U.S. What can be done to balance security vs. convenience?
Although the Reserve Bank of India mandated that banks complete the shift from magnetic stripe debit and credit cards to EMV chip-and-PIN cards by Jan. 1 to help reduce fraud, there's still plenty of work to be done.
Payments technology changes rapidly, but cybercriminal techniques are having no trouble staying one step ahead. As the use of stolen data and fraudulent cards becomes more difficult, criminals are now shifting their focus to customer payment transaction data. The risk of data theft is very real. To stay ahead,...
In 2019, an estimated 10% of the dollar value that reaches online checkout will fail payment authorization, resulting in approximately $340 billion worth of potential eCommerce revenue going unrealized. An estimated 70% of these orders are placed by legitimate customers who can afford the purchase.
Since customers...
New account fraud is rising and within that, Identity Fraud is clearly the winner. The vast majority of such cases involved the abuse of an innocent victim's identity, rather than a fictitious identity. The availability of large amounts of personal information obtained from hacking, phishing or data breaches continues...
Not only do holiday sales start earlier every year, over the past 20 years we've witnessed the birth of new cyber holidays. Data from previous holiday seasons reveals that shopping behavior and fraud trends are not consistent throughout he holiday season but are in fact comprised of four sub-seasons, each with its...
In an increasingly digital world, where players from virtually all sectors are racing to innovate, the risk of data theft is very real. The payment card industry has defined standards for protecting cardholder account data. But what about other data types? And what can be learned from payment card industry standards?...
With a growing array of digital channels available, customers seemingly have infinite possibilities for how they choose to do business as evidenced by the more than 200% growth in mobile transactions in the last three years. Winning in this new era means rising to the challenge of meeting an entirely new set of...
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