Cybercrime can cost up to $3.8 billion USD globally, in hard costs. But add in the time and resources that consumers, e-commerce merchants, and FIs spend fighting fraud attacks, and that total balloons to more like $274 billion. That’s according to a new ThreatMetrix report....
As companies get increasingly nervous about data security on B2B transactions, the PCI Council is offering some guidance about the need for merchants to better train employees and increase awareness about security protocols. Get the Full Story Complete the form to unlock this article and...
While there’s been an overflow of Apple Pay chatter in the industry, the 7,500-plus attendees at Money 20/20 in Las Vegas and 20,000-plus attendees at CARTES SECURE CONNECTIONS event in Paris showed there’s plenty of interest from industry CEOS about other payment options, security and mobile innovations. Get...
A “major flaw” has been discovered within Visa contactless cards, where thieves in the U.K. were to sidestep a £20 limit and charge as much as £999,999.99 as long as they chose the option to select a foreign currency, according to a report in The...
Payments professionals invest a lot of time and money protect payment card data and shopper PII specifics, but thieves are now zeroing in on an apparent soft spot: rewards points, especially points that can easily be converted into cash. Get the Full Story Complete the...
One of the tenets of banking security rules today is that consumers must protect their PINs and passwords. If a customer, for example, posts his/her password on a publicly accessible social media site and fraud soon happens, the bank won’t cover the losses. But what...
Whoever said there’s no such thing as bad PR obviously wasn’t on the receiving end of the whooping that Rite Aid, CVS and CurrentC took last week over their decision to turn off support for Apple Pay in their stores. Get the Full Story Complete...
Payments security is a problem today with many solutions – EMV, tokenization, P2P encryption, to name but a few. But while there seems to be no lack of effort and options for securing the motion of money at the point of sale, the industry seems...
The recent card breach at Home Depot has reportedly cost credit unions nationwide about $60 million. The largest retailer data theft in history (so far, Christmas is coming) has already been the subject of lawsuits from two Pennsylvania credit unions in federal court. The suit...
