Content by Tracy Kitten

Faster Payments: Mitigating the Fraud Risks

Tracy Kitten  •  April 7, 2016

The Federal Reserve will carefully scrutinize the security components of proposals it's receiving this month for technologies that can be used to enable faster payments in the United States. That's because a key issue in moving to faster payments is mitigating the greater risk of fraud.

Trump Hotels Breached Again?

Tracy Kitten  •  April 6, 2016

Luxury hotel chain Trump Hotels is investigating a possible breach that some security sources say targeted the chain's point-of-service system. If confirmed, it will be the second card breach suffered by the chain in less than a year.

Preparing for the Migration of Fraud

Tracy Kitten  •  April 4, 2016

To fight the growth of card fraud, retailers need to take a multichannel approach, says Randy Vanderhoof of the EMV Migration Forum. In addition to EMV, retailers must invest in tokenization and encryption, he says in this video interview.

EMV: Not Ready for Prime Time?

Tracy Kitten  •  April 1, 2016

In a video interview, Dave Matthews of the National Restaurant Association, which represents more than 500,000 restaurants throughout the country, explains why the group is questioning whether EMV is really ready for "prime time."

Merchants Ask Court for Relief from EMV Liability Shift

Tracy Kitten  •  March 15, 2016

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.

Could Blockchain Play Broader Role in Payments?

Tracy Kitten  •  March 9, 2016

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.

Cutting Debit Fraud: Lessons from Canada

Tracy Kitten  •  March 1, 2016

Debit fraud losses in Canada hit an all-time low in 2015, mainly because of the nearly complete migration to EMV and real-time settlement of debit payments, says Mark Sullivan, who heads fraud management for Interac, Canada's payment network. He offers important lessons for the U.S.

MasterCard's 'Selfie' App Aims to Replace Passwords

Tracy Kitten  •  February 25, 2016

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.

Acecard Android Trojan Raises Serious Concerns

Tracy Kitten  •  February 24, 2016

The re-emergence of the mobile banking Trojan known as Acecard, which is now threatening a broader range of targets worldwide, highlights the growing risks associated with Android devices and the need for banks and mobile app developers to do more to protect users' accounts.

Banking Trojans Expand Their Reach

Tracy Kitten  •  February 22, 2016

Leading banking Trojans are expanding their targets, taking aim at industries outside banking to compromise financial accounts and other information, new research shows. And the botnets are proving difficult for law enforcement officials to take down.

Card-Free ATMs: No More Skimming?

Tracy Kitten  •  February 19, 2016

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.

CryptoWall Ransomware Gang Extorts $330,000

Tracy Kitten  •  February 10, 2016

Over a three-month period in 2015, a single cybercrime gang managed to earn at least $330,000 in bitcoins thanks to an estimated 670 victims paying attackers to decrypt ransomware-infected systems. Should police be doing more to stop these attacks?

ATM Fraud Arrests: A Red Flag for Merchants

Tracy Kitten  •  February 4, 2016

The arrests of seven men allegedly linked to a skimming operation that targeted ATMs at retailers, including hotels and gas stations, is yet another indicator that U.S. merchants need to beef up the security of these devices.

Neiman Marcus Reports New Breach

Tracy Kitten  •  February 4, 2016

A new breach of customer accounts at luxury retailer Neiman Marcus is, once again, putting the spotlight on the vulnerabilities created by relying only on usernames and passwords for online authentication, and the risks posed by storing customer information.

Are Retailers Improving Cybersecurity?

Tracy Kitten  •  February 1, 2016

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.