The retail data breach at Target cost U.S. credit unions an estimated $30 million. The National Association of Federal Credit Unions released the estimate this week, Finextra reported on Feb. 11. “Credit unions are being hit by a double whammy in terms of numbers of...
U.S. banks are feeling the pinch after a wave of business data breaches forced the reissuance of millions of credit and debit cards. The replacement costs come at an estimated $15 per card when taking into account the costs of plastic, embossing and encoding, PIN...
The FIDO Alliance has released a public draft of standards designed to improve access security. The group, composed of PayPal, Google and other companies in the tech space, published the draft, which calls for moving away from traditional password-based security systems, Forbes reported on Feb....
Cybereason, developer of an automated cybersecurity defense platform, has launched an new enterprise-level fraud-monitoring system designed to “uncover the operation and stop it in its tracks.” The startup is pitching its solution on the basis that companies should focus on information gathering instead of outright...
Online payment fraud resulted in billions of dollars in losses last year. Stopping fraud without impacting the experience for trusted customers is critical for organizations where any fraud prevention measure that adds to customer friction is a non-starter. Attend this webinar to learn methods to...
“Cyberattacks are likely to eclipse terrorism as a domestic danger over the next decade. … That’s where the bad guys go. There are no safe neighborhoods. All of us are neighbors online.” – FBI Director James Comey, The Guardian Here are the cold hard facts....
U.S. Bank employees are piloting software that lets customers speak a simple passphrase, such as “my voice is my password” to access a credit card account on a mobile device. The feature – called voice biometrics – allows select credit card customers to use their...
In a TV news interview this week in Detroit, a former hacker spoke about his experience as a credit card thief, but suggested it was all for fun, at least from his perspective. The man did not give his name but said that he had...
FIS and Microsoft have announced a new cybersecurity partnership. The deal includes the integration of FIS officials with Microsoft’s Cybercrime Center, which the company established in November. The two businesses also will work with the U.S. Department of Homeland Security on cybercrime initiatives, FIS said...
