Federal authorities say the successful prosecution of a member of an international cybercrime ring proves progress is being made in shuttering ATM cash-out schemes. But some experts say processors and prepaid cards will continue to be targeted by attackers.
Recent high-profile retail breaches could help increase interest in the adoption of mobile payments to lessen the likeliness of fraud at the point of sale, says Aite Group analyst Thad Peterson.
Bob Russo, long-time general manager of the PCI Council, will retire at the end of the year. Stephen Orfei, his replacement, will take the helm in September. Security experts analyze the potential impact of the change.
The "Bolware" malware gang has used Web injection and "man-in-the-browser" techniques to steal up to $3.75 billion. The attack campaign demonstrates how easily attackers anywhere in the world can commit browser-based fraud.
When the U.S. transitions to chip-secured payment cards, banking institutions will see a significant uptick in card-not-present fraud. What can they be doing now to prepare? Fiserv's Patrick Davie shares tips.
P.F. Chang's has issued an update to customers, saying its data breach was the work of a "highly sophisticated" gang, and that forensics experts continue to investigate the full extent of the breach.
A remote-access attack on a POS vendor may have resulted in the exposure of payment card transactions conducted at at restaurants throughout the northwestern U.S.
A class action suit against breached restaurant chain P.F. Chang's China Bistro is unlikely to succeed, some security experts say, because proving consumer losses linked to specific merchant data breaches is difficult.
Global payment card fraud levels have remained stable, demonstrating that today's security measures - such as EMV - merely drive criminals to focus on other geographies or types of card transactions.
Could too much regulatory oversight hinder cyberthreat information sharing, rather than encourage it? That's an increasing concern for bankers, who argue regulators could bog down progress in cybersecurity.
If the NSA's meddling in NIST cryptography standards soiled the reputation of the National Institute of Standards and Technology, an amendment approved by the House of Representatives could help restore it.
Over the next five years, the U.S. payments infrastructure is slated to undergo a major overhaul, with the Federal Reserve leading the charge. Two Fed leaders share insights on the impact on U.S. banking institutions.
P.F. Chang's confirmed card breach has renewed debate about the state of security at U.S. merchants. The PCI Council's Bob Russo says that while there has been progress in recent months, the retail industry still has a long way to go.
We've been talking about shifting away from legacy mag-stripe technology and a move toward EMV chip cards for the last decade in the U.S. So is it too late, or is there still hope for EMV?
"Banks can play offense, to use mobile in a justifiable way to engage customers into their security," says Jim Van Dyke of Javelin Strategy & Research. He outlines a strategy for using mobile devices to enhance fraud detection.
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