A Juniper Research analysis of why card-not-present fraud will continue to grow leads this week's edition of the ISMG Security Report. Also featured: Updates on a Neiman Marcus breach lawsuit settlement and a German hacking incident.
Forty-three states have reached a settlement with Neiman Marcus over its 2013 data breach, one of several breaches from that period blamed on in-memory malware. The retailer will pay $1.5 million and must use encryption and tokenization to protect card data.
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.
We no longer live in a Web only world. Consumers are increasingly interacting across multiple touchpoints, particularly digital channels. Today, over half of all transactions originate from a mobile device or app, and as a result, fraud in the mobile channel has increased over 600 percent in three years. With so many...
Card-not-present fraud will cost retailers worldwide $130 billion between 2018 and 2023, a new report from Juniper Research predicts. Steffen Sorrell, author of the study, explains the reasons behind this growth projection and describes what can be done to improve the fight against fraud.
Leading the latest edition of the ISMG Security Report: Microsoft's Joram Borenstein highlights his top three areas of focus for 2019. Plus, Randy Vanderhoof of the US Payments Forum on securing card transactions in the coming year.
Account takeover is a rapidly growing arena for cybercriminals. How can organizations strengthen both authentication and authorization? Scott Olson of iovation, a TransUnion Company shares his insights.
Over the past year, there's been a surge in so-called Magecart attacks, which involve payment card data being stolen from e-commerce sites via injected attack code. Researchers say they are tracing at least six active Magecart groups, each with unique infrastructure, skimmers and targeting.
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.
Pakistan says the nation's banks have not been hacked, but adds that they are taking defensive steps after nearly 20,000 payment card details appeared for sale online. The State Bank of Pakistan says banks are implementing restrictions on international transactions.
British Airways has discovered that hackers compromised payment card data and personal details for 185,000 more customers than it had originally suspected and that its systems were first breached not in August, but April. The airline now counts 429,000 data breach victims.
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...