Facebook CEO Mark Zuckerberg broke five days of silence as pressure intensifies on Facebook to account for a data leak to a voter-profiling firm that worked for the Trump campaign. In a lengthy blog post, Zuckerberg has pledged to make changes to better protect personal data. But is it too late?
A new standard from the PCI Data Security Standards Council could help ease the way for smaller merchants worldwide, especially in developing nations, to move to cashless payments using a variety of devices, says Troy Leach, CTO for the council, who spoke last week at a conference in South Africa.
Al Pascual of Javelin Strategy and Research discusses a new report that shows that while crypto wallets may be considered to be at the sharp end of payments innovation, the security vulnerabilities they face are much the same as those that already exist in digital banking and payments.
Developing nations that are moving to digital payments, especially for the unbanked, need to keep in mind security lessons already learned in other markets, including Europe, says Steve Marshall, founder at Risk-X, a U.K.-based audit and risk assessment consulting firm.
The PCI Security Standards Council is offering 40 percent lower fees for participating organizations in nations with lower-income economies. "We want to encourage countries in Africa and South Asia to get engaged with us," Jeremy King, international director at PCI SSC, tells ISMG in an exclusive interview.
If you browsed the latest security headlines, you'd probably think the majority of data breaches were related to hackers, political activists, malware or phishing. While the latter two hint at it, the truth is that nearly half of all data breaches can be traced back to insiders in some capacity.
As banking institutions of all sizes maximize their digital channels, there is growing tension between the need to prevent fraud and the desire to maintain a frictionless customer experience. IBM Trusteer's Valerie Bradford discusses how to defuse this tension.
Leading the latest edition of the ISMG Security Report: The Department of Justice indicts Russians for allegedly running an industrialized troll factory designed to influence U.S. politics. Also, a feature in Australia's new real-time payment system could be abused by identity thieves.
Australia's real-time payments platform, which launched last week, includes a feature designed to reduce fraud and erroneous payments. Ironically, the feature may also expose users to social engineering attacks.
WhatsApp, the global messaging app that has more than 200 million monthly active users in India, has leveraged National Payment Corporation of India's Unified Payment Interface platform to launch its beta payment service that will allow users to send money to other WhatsApp users, excluding merchant accounts.
Criminals in Europe are annually laundering at least $4 billion - and growing - via cryptocurrencies, warns Europol. The agency is calling on regulators and legislators to regulate cryptocurrencies to help battle money laundering and protect consumers.
Australia is the latest country to roll out real-time payments, where funds from an account at one bank reach an account at another bank in seconds. While convenient, the system poses fresh fraud challenges and consumer protection concerns.
After suffering one of the worst data breaches in history, in which 145.5 million U.S. consumers' personal details were stolen, credit bureau Equifax has hired Jamil Farshchi to serve as its new CISO. Farshchi joins from Home Depot, which hired him after suffering a massive data breach.
Illegal transactions on the internet have long been conducted in the cryptocurrency bitcoin. But underground vendors are accepting new kinds of virtual currency that may be safer to store and offer more privacy protections, according to a new study of 150 dark web markets and forums.
As banks in the U.S. and Australia grapple with how to effectively launch faster payments, more will turn to big data and machine learning to help better manage expected upticks in fraud, says cybersecurity specialist John O'Neill Jr. of DarkTower.