Consumer and merchant confidence in the payment network requires constant vigilance, investments and cross-industry collaboration. As more consumers shop and pay with connected devices, and commerce increasingly migrates to digital channels, the industry must invest in new standards, technologies and products. One of...
As fraudsters switch focus back to card-not-present (CNP) schemes, research from the Aite Group indicates that it will soon outpace card-present fraud in the U.S. by 3:1. Globally, payments provider ACI Worldwide saw a 30-percent increase in CNP fraud in the first half of 2015. In fact, ACI says that approximately 1.2...
Around the world, rapidly evolving technology, end-user expectations and system complexity are forcing payments stakeholders to reassess their strategies. Recognizing these shifts, the Federal Reserve released Strategies for Improving the U.S. Payment System, an ambitious, multi-year plan that focuses on improving the...
Blockchain technology used by bitcoin and other cryptocurrencies offers opportunities for enhanced authentication and ID management, as well as cross-border money remittances, says Ben Knieff of the consultancy Aite. But he contends it's not clear that the technology could play a role in faster payments.
Australian police have raided the Sydney home of cryptographer and entrepreneur Craig Wright, who's been named as being the suspected creator of the bitcoin cryptocurrency. Has the real "Satoshi Nakamoto" finally been unmasked?
Despite near-constant warnings from law enforcement officials and the information security community, too many organizations still aren't taking security seriously, experts warned at the Irish Cyber Crime Conference in Dublin.
The landscape of corporate and retail payments across channels such as mobile and online, and including emerging products such as Apple Pay provide both customer convenience and satisfaction. Yet, these new channels and technologies also create opportunities for fraudsters to exploit. In this session we'll present...
High-profile retail data breaches have captured the attention of executives and policymakers alike. Beyond the financial consequences, there is one positive outcome: a renewed focus by financial institutions and retailers to advance payment system security. In this exclusive session from ISMG's Toronto Fraud Summit,...
When Benjamin Wyrick of VASCO Data Security looks toward 2016, he sees financial institutions embracing new mobile banking apps that are at once convenient and secure. What are the keys to making his vision a reality?
EMV Here We Come. Now that the U.S. has finally embraced secure-in-person transactions with EMV, we'll examine how the transition and the rollout will affect the rate of card-not-present (CNP) fraud and other online transactions. Join our panelists as we discuss such topics as how fraudsters will exploit the CNP...
While retail operations demand faster payments systems, fraud is on the rise. The Federal Reserve Bank, which provides payments services and support to financial institutions across the United States, is front and center in the fight to develop requirements needed for real-time payments. The latest on the Payments...
Retail point-of-sale breaches are growing every day, creating giant payment card fraud challenges for banking institutions and retail operations. These incidents impact institutions of all sizes but more than 90% of successful data breaches target smaller businesses. A key weapon in the fighting fraud toolkit is the...
Mobile devices are expected to become the dominant banking and payment channel in the near future. This puts them directly in the cross-hairs of threat actors around the world as a prime vector to gain access to your information, network and money. In this session we'll see exactly how rogue apps, malware and...
The emergence of the EMV chip in the U.S. is soon going to change the payments game for issuers and merchants. Here, Sophos' Chet Wisniewski describes what bankers should be doing now to prepare.
As the U.S. embarks upon its migration to EMV, fraudsters will begin testing other vulnerabilities and channels to exploit. As EMV alone does not protect all transaction-related data from exposure during a breach, we need to take a look at a broad range of complementary technologies, such as tokenization, encryption...
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