Data security

Financial institutions and retail companies are trading barbs over which industry poses greater risk to sensitive customer information just as lawmakers are planning to take another stab at a data security bill.

The MyCUID product is intended to help membes protect against fraud and identity theft by creating a lifetime "portable digital identity" not dependent on any central authority.

FitPay's wallet and digital payment platform, which will integrate with the tokenization platform, enables manufacturers of IoT and wearable devices to add contactless payment capabilities to their products.

The clock starts ticking this week on a busy agenda of financial services priorities on Capitol Hill, including passing reforms to Dodd-Frank, overhauling the housing finance system and confirming key regulators.

A quarter of banks say they’ve experienced a mobile security incident in the past year. Many still lack basic security protections on employees’ devices, according to a newly published study.

The North Carolina bank is the latest regional to experience a widespread outage.

Citing a need for merchants to better understand payments behavior across various digital channels, Visa has launched Token Management Service for its global clients.

By failing to protect their customers’ data, financial institutions and others in the payments ecosystem are risking trust, the most important currency they have, writes David Barnhardt, executive vice president of product at GIACT.

Rambus has provided the data technology under the hood of Nintendo and PlayStation games since the 1990s, and later became a global token service provider. The next logical progression is mobile payments.

Foreign operatives' alleged use of fraudulent financial accounts to try to influence the U.S. political system shows again how difficult it is for banks to truly know their customers.

A bipartisan bill to establish a federal security framework follows a string of efforts beset by congressional turf battles.

The finance sector had the highest number of breaches of all industries, with 471 in 2016, according to a report issued Friday by the White House's Council of Economic Advisers.

More than 700 million global cyberattacks and 1.7 billion bot attacks took place in 2017, a 44% increase in the attack rate over 2016.

Just 8% of cybersecurity heads at U.S. financial firms report to the chief executive officer directly and more should do so to improve decision-making, according to the Financial Services Information Sharing & Analysis Center.

Bank makes errors in refund program; credit bureau now says tax IDs, email addresses and driver’s license were compromised in last year’s hack.

Identifying threats to a single bank or the financial system as a whole can be tricky, but there are steps bankers can take to protect themselves.

In many ways, the goal of the GDPR is to increase difficulty for a hacker, while also flipping the rights of data ownership back to the European consumer. U.S. companies that serve European consumers are obligated to follow the regulations.

Sen. Elizabeth Warren released a scathing report Wednesday on Equifax's handling of the data breach last year, part of an effort to gain backing for legislation to rein in the credit bureaus.

The U.S. charged 36 people in a takedown of an international cybercrime ring that prosecutors say used the slogan “In Fraud We Trust” and stole $530 million with the help of pilfered identities and malware.

In recent weeks three surveys have been released that assess the U.S. fraud landscape across all of these audiences. These reports provide a holistic snapshot of where payments fraud in the U.S. is today.