The risk of cyber fraud is increasing faster than the total volume of financial transactions across the internet. In just two years, internet transactions increased by 200%, while fraud increased 178%...and that was exclusively in the mobile channel. Is fraud becoming better business than the business itself?
A report on FBI Director James Comey seeking to reopen the debate over creating for law enforcement a bypass to encryption on mobile devices is among the stories featured in the latest ISMG Security Report.
The European Commission's Payment Services Directive II, or PSD2, stands to revolutionize the payment industry. In addition to driving innovation and competition, the new regulation calls for a new generation of customer security.
As the volume of financial transactions in remote channels increase, so does the...
The FFIEC has released detailed security guidance for mobile banking and payments that its examiners will now use in their assessments of financial institutions. Banking security experts offer a critique.
NPCI's new unified payment service for mobile fund transfers, which recently went live, is a leap forward in driving cashless transactions and boosting financial inclusion, but will increase challenges in ensuring seamless, secure transactions.
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.
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.
The Indian financial sector is at the dawn of a new age of electronic payments. What are the new form factors, and how must they be secured? An expert panel discusses the evolution and its unique security challenges.
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.
The U.S. migration to EMV chip payment cards, which is progressing slowly, will be overshadowed by EMV-compliant mobile payments, says Gray Taylor of Conexxus, a convenience store and petroleum industry technology association.
Security risks of real-time mobile payments increase as adoption of mobile devices and applications grow. PwC's Suhas Desai shares risk mitigation strategy through application and mobile security best practices.
Julie Conroy of the Aite Group analyzes why a new report shows most top-tier North American banking institutions expect to increase their spending on online and mobile fraud mitigation in the next two years.
Security researchers warn of "Xara" flaws in Apple iOS and OS X that could be used to intercept passwords and banking data, as well as a keyboard app that puts more than 600 million Samsung device users at risk.
It's still early days for mobile e-commerce in India, but with the quantum of users increasing exponentially, HDFC Bank's new mobile payments platform may be the direction in which the industry is headed.