Debit and credit card fraud prevention News
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.
October 18, 2010
SARs study also shows that financial institutions are rejecting fraudulent consumer loans in majority of cases.
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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
Card verification value (CVV) is a combination of features used in credit, debit and automated teller machine (ATM) cards for the purpose of establishing the owner's identity and minimizing the risk of fraud... (Continued) Continue Reading
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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
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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
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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