The PCI Security Standards Council envisions a single, globally-unified data security standard. Now that the European Card Payment Association is a strategic regional member, that goal is significantly closer, says Jeremy King, the council's international director.
In a lawsuit, two small merchants say they, and many other retailers, are unfairly being forced to pay fraud-related expenses as a result of the EMV liability shift even though they converted to EMV technology by the card brands' deadline. Fraud prevention experts analyze the implications of the case.
A new report suggests that a Chinese cyber espionage APT attack group is behind a string of targeted ransomware infections that have slammed U.S. firms. Dig into the details, however, and the report is nothing but speculation, two security experts caution.
Blockchain technology used by bitcoin and other cryptocurrencies offers opportunities for enhanced authentication and ID management, as well as cross-border money remittances, says Ben Knieff of the consultancy Aite. But he contends it's not clear that the technology could play a role in faster payments.
A thriving market now exists to help cybercriminals recruit new talent, says Rick Holland of the threat intelligence firm Digital Shadows, which has been studying how cybercriminals advertise for new recruits - and the types of technology skills that are most in demand.
To boost security and eliminate the need for passwords, MasterCard plans to later this year roll out a facial biometrics app for authentication of online purchases. But some experts warn that biometrics technology is not fool-proof and should only be deployed as part of a layered authentication approach.
The PCI Security Standards Council will soon release an update to its PCI Data Security Standard, requiring the use of multifactor authentication for administrators who have access to card data networks. In an interview, the council's Troy Leach explains the new requirements and compliance expectations.
Who's right: Apple or the FBI? Our readers continue to debate a magistrate judge ordering Apple to help unlock an iPhone tied to a San Bernardino shooter, raising such issues as strong crypto, backdoors as well as legal and moral responsibilities.
By spring, banks and credit unions across the U.S. are expected to start rolling out "card-free" ATMs, offering transactions that experts say will eliminate fraud losses linked to skimming, and at the same time open new doors for mobile payments.
Landry's Inc. now reveals the broad scope of point-of-service malware attacks against its restaurants and other properties dating back to 2014 and 2015. Experts discuss factors that could have contributed to the breaches.
Who's responsible for the 12 percent uptick in financial fraud losses absorbed by U.S. banks? The American Bankers Association points to retail breaches. But one observer thinks "the ABA has its head in the sand." Read other reactions to the ABA's fraud report.
Retailers have been at the center of high-profile breaches and an ongoing debate with banking institutions. But Brian Engle of the Retail Cyber Intelligence Sharing Center says cross-industry collaboration is helping retailers improve cybersecurity.
Financial losses tied to fraud against bank accounts increased about 12 percent from 2012 to 2014, but banks are not to blame. To the contrary, the ABA argues that banks are actually making significant strides in their fraud prevention efforts.
Security experts are warning that Chinese networking product manufacturer TP-Link has been shipping routers with a WiFi password that's based on their MAC address, thus making their passwords easy for would-be attackers to sniff.
Because of the U.S. migration to EMV, 2016 is expected to be a watershed year for mobile payment adoption, says Randy Vanderhoof of the EMV Migration Forum. Now, he says, the industry should be more focused on new applications hitting the market than on the number of adopters.