Cybersecurity and debit represent the two major common themes as it relates to recent regulatory attention globally, a top official at Visa noted in a recent analyst discussion. During the discussion with Morgan Stanley analysts, Byron Pollitt, Visa’s chief financial officer, said the company is...
The following is based on remarks made by David S. Evans at the New York Federal Reserve Board-New York University Conference on Regulating Consumer Financial Products, January 6, 2010, New York, NY. Let’s begin with a puzzle raised by the previous session on who should regulate consumer protection....
The European Central Bank (ECB) has approved a guide for payments security assessments being conducted within in the eurozone. The guide helps those planning to tighten point-of-sale security, shore up authentication technologies and provide additional security measures for stored consumer data, according to a Feb....
Three credit agencies in South Korea have been suspended for three months in the wake of a large-scale data theft. The South Korean Financial Service Commission (FSC) suspended the Lotte Group, NH Financial Group Inc. and KB Financial Group Inc. A 10-day appeal period will...
Another major Bitcoin exchange reportedly has suspended withdrawals, citing an extended distributed denial-of-service (DDoS) attack. Bitstamp, an exchange headquartered in Slovenia, announced the suspension after irregularities were discovered in the site’s wallet system, Coindesk reported on Feb. 11. Andreas Antonopoulos, chief security officer for Blockchain.info,...
A senior J.P.Morgan official wrote in a recent note to clients that Bitcoin is a risky investment and may be too dangerous to function as a viable currency. John Normand, JPM’s chief global FX strategist, wrote that, “As a medium of exchange, unit of account...
For the first time, smartphone sales worldwide exceeded those for regular phone devices last year, according to new research from Gartner. Out of the 1.8 billion phones sold in 2013, 968 million of them were smartphones. This represents a 3.5 percent increase from 2012 levels,...
The U.S. Commerce Department reported this week that January retail sales unexpectedly fell compared with December as automobile sales slipped. Sales were down 0.4 percent, Reuters reported on Feb. 13. Estimates for January called for a 0.2 percent increase in retail sales. The Commerce Department...
04 March 2014 The source code for Mt. Gox, the troubled virtual-currency exchange, has been leaked online by an anonymous hacker. Additionally, the person also disclosed to TechCrunch that he or she stole 20GB worth of customer information, including allegedly passport and other personal identification data. The...
