Debit and credit card fraud prevention News
March 03, 2015
Banks are rushing to fix sloppy authentication processes at the heart of rising Apple Pay fraud. Experts also worry about potential fraud with other mobile payment systems.
July 21, 2014
Hailed by card brands as the cure to payment card fraud, Chip and PIN security technology will take years to deploy and has already proven vulnerable.
April 24, 2013
PayPal's Michael Barrett says many firms fear misuse of shared cybersecurity data. He also discusses the evolution of PCI DSS and mobile payment security.
June 14, 2011
Citigroup hackers used a common website vulnerability to bypass security controls and reap confidential banking data.
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Securing credit card data -- both online and at brick-and-mortar stores -- requires security measures beyond those mandated by PCI DSS. Expert Philip Alexander outlines six out-of-band security controls to consider. Continue Reading
Synthetic identity theft is the fraudulent use of stolen personally identifiable information (PIF) that is combined with made-up details to create a false identity. The thief may steal an individual's social security number, for example, and use it ... Continue Reading
The Payment Card Industry Data Security Standard (PCI DSS) is a widely accepted set of policies and procedures intended to optimize the security of credit, debit and cash card transactions and protect cardholders against misuse of their personal ... Continue Reading
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Tokenization is a key technology underlying Apple Pay, promising to boost payment data security. Mike Chapple examines how Apple Pay's tokenization system works, and whether it will provide any PCI DSS compliance relief. Continue Reading
Merchants need to balance buyers' online experiences and their controls for analyzing suspicious purchasing behavior to prevent card-not-present scams. Continue Reading
Implementing data analytics tools to examine transactions will help companies detect fraud and prevent losses for their customers. Continue Reading
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Monitoring customer behavior across multiple channels would help banks fight fraud, but today's fraud detection technology isn't there yet. In this tip, financial services expert Jerry Silva explains how banks could benefit from the concept of "... Continue Reading
With PCI DSS and other compliance requirements, organizations are looking for surefire solutions to protect payment card and other sensitive data. Tokenization and end-to-end encryption have emerged as promising technologies, but as Dave Shackleford... Continue Reading
A penitent Frank Abagnale Jr. shuns white-collar crime and fraud, and helps others understand how to guard against the dangers of hacking. Continue Reading
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Alleged bank-fraud ring stole more than $422,000 by claiming their ATM cards had been lost or stolen after draining their accounts. Continue Reading
With so many records containing personally identifiable information lost in data breaches, we have lost the battle to protect personal information, argues George Tubin of TowerGroup. In this tip, he explains how financial institutions must treat PII... Continue Reading
As mobile banking grows in popularity, financial institutions need to weigh the adoption risks to determine whether it's a product they want to offer. Rick Lawhorn lays out the top three risk factors and what your company should do to help overcome ... Continue Reading