Data security

The credit union regulator has held back in allowing the use of derivatives but has released a proposal that would remove red tape for some larger institutions.

Executives and technology analysts offered a host of concerns that are likely to dog credit unions well into the new year.

Swedish point of sale credit company Klarna put itself in the awkward position of apologizing and trying to explain marketing emails to surprised and angry consumers, a misstep for a firm whose credit card alternative has found major traction during 2020’s crises.

Michael Moeser, senior analyst at PaymentsSource, talks to Christian Fredrikson, CEO of Fingerprint Cards, about the ways biometric authentication has been adopted during the coronavirus pandemic.

Credit unions' credit and debit card portfolios could see a surge this week as the online retailer offers two days of deals, while the industry's regulator is set for a cybersecurity update.

The regulator found that the financial services company failed to take precautions in disposing of hardware that contained sensitive customer information.

It's a perplexing problem for those developing and instituting Payment Card Industry data security standards: Even as threats rise, the number of organizations that fully comply continues to drop.

Increases in attacks, escalating money demands and the security challenges of having people work from home are magnifying the threat.

Increases in attacks, escalating money demands and the security challenges of having people work from home are magnifying the threat.

Goldman Sachs Group turned to its chief rival to fill its top cybersecurity job.

Four global banks have joined American Express Ventures in contributing to BioCatch’s Series C fundraising round and earning themselves seats on its newly formed Client Innovation Board.

David Heun, Associate Editor at PaymentsSource, talks to Kevin Gosschalk, CEO and founder of Arkose Labs, about the fraud trends that have emerged over the course of the coronavirus pandemic.

The startup said its Marqeta Tokenization-as-a-Service enables banks or fintechs to instantly add credit, debit or prepaid cards to a digital wallet by directly managing tokens instead of going through a third party.

It’s about time that we stopped ranking personal data theft on perceived severity. Any breach in which personal data is stolen needs to be treated as highly serious and punishable, says Juniper Networks’ Laurence Pitt.

Since July, Visa has noticed an uptick in unemployment insurance fraud with prepaid cards being used as a key disbursement vehicle. And the best solution may be rooted in technology, not law enforcement.

As the coronavirus pandemic has driven more people to work from home and shop online, the demands on digital, faster payment systems have been heightened — as have the opportunities for fraudsters to exploit them.

As many businesses and consumers have been forced to deal with the difficult conditions thrust upon them by the COVID-19 pandemic, so too have fraudsters needed to make adjustments just to continue their life of crime.

Netwalker attacks are known to target victims using phishing emails disguised as COVID-19 updates from their organization, taking advantage of the heightened fears and anxieties that come with the current pandemic, says Stealthbits Technologies' Dan Piazza.

Even before the COVID-19 pandemic forced retailers and consumers alike to consider the benefits of shopping via a mobile app, providers of shopping and loyalty apps were seeking partnerships with security vendors to deploy fraud prevention technology.

By implementing email protections and patches, the bank was able to protect mobile payments, ATMs, and digital banking, says Red Canary's Tony Lambert.