Banking institutions and retailers are working to enhance cybersecurity collaboration, but the Consumer Bankers Association wants more regulatory oversight of merchants, says the CBA's David Pommerehn, a speaker at the upcoming Fraud Summit San Francisco.
As banking institutions expand their payments platforms, channel integration could help not only to ensure a consistent consumer experience but also to streamline security, says Marc West of Fiserv.
Although adoption of mobile banking is accelerating, mobile payments have yet to reach a tipping point and security issues need to be addressed, says Marc Warshawsky of Bank of America, a mobile banking pioneer.
Recent data breaches, such as the ones suffered by Target Corp. and Neiman Marcus, may have been detected sooner if retailers had been sharing transactional pattern and behavioral information about their customers, says Mike Braatz of ACI Worldwide.
Researchers at Dell SecureWorks have identified some 146 unique malware families that are targeting cryptocurrencies. Approximately 100 of those have emerged in just the last year, says Pat Litke, security analysis adviser for the company's CyberThreat unit.
In a groundbreaking effort to boost security, HSBC Bank USA is now requiring its retail banking customers to use dual-factor authentication for certain sensitive online banking transactions, says LuAnne Kingston, senior vice president.
Merrill Halpern of the United Nations Federal Credit Union, a pioneer in the use of chip cards, says high-profile retail breaches reinforce the long-term value of EMV for various forms of payment within the U.S.
Organizations in all sectors can improve their compliance with the PCI Data Security Standard by taking five critical steps, says Rodolphe Simonetti of Verizon Enterprise Solutions, which just issued a new PCI compliance report.
The PCI Security Standards Council has no plans to modify its standards for payment card data security in response to high-profile payment card breaches at Target and Neiman Marcus, says Bob Russo, the council's general manager.
In the wake of the Target and Neiman Marcus data breaches, Steve Kenneally of the American Bankers Association calls for greater security and accountability throughout the U.S. payments system.
Increasingly sophisticated prepaid card fraud is affecting more banking channels. Payments fraud expert Tom Wills offers insights on what banking institutions can do to mitigate this threat.
U.S. banks stopped $9 out of every $10 of attempted deposit account fraud in 2012, according to a new ABA Fraud Survey Report. What are they doing right, and how must they improve fraud prevention in 2014?
While the U.S. migration toward EMV card technology may have been jolted by a July court ruling, Randy Vanderhoof of the Smart Card Alliance contends the movement toward EMV will accelerate in 2014.
U.S. banking institutions need to develop payments strategies to deal with virtual currencies, such as Bitcoin, even if the security risks are not yet fully understood, says Fiserv's Mike Urban.
As U.S. banking institutions make the EMV migration, fraud will migrate from payments cards to areas such as check and first-party fraud, says Fiserv's Mike Urban. How must institutions prepare?
Our website uses cookies. Cookies enable us to provide the best experience possible and help us understand how visitors use our website. By browsing paymentsecurity.io, you agree to our use of cookies.
