Data security

Overall card fraud losses in Europe have declined slightly over the last five years, but that trend is starting to reverse course, based on new data from FICO and Euromonitor International that points to sharp regional upticks in card-not-present fraud.

In the wake of the Bitfinex heist, protecting consumers must again be at the forefront of the digital currency community.

The situation turns on whether the CFTC inadvertently pushed Bitfinex to adopt a weaker security system than it had been using. However, the way the bitcoin exchange used the new system was significantly flawed, security experts said.

Bots have slowly begun to creep onto the online payments scene, and they could offer a whole new, simpler way to part with our cash.

Barclays threw out security questions for telephone banking access this week and began using voice recognition technology, representing a step in an industry-wide move to eliminate passwords and challenge questions.

TouchID, facial recognition, behavior patterns, knowledge-based authentication, SMS codes – the means of authenticating continue to proliferate. The smart minds in security have yet to settle on one which is the most effective.

European Union regulators recently passed new rules for shielding data from cyber criminals. Every company that operates in or does business with EU citizens must comply, which is virtually every mid-to-large sized company in the world.

Retailers insist that the EMV migration in the U.S. is weak because there is no PIN requirement to verify chip-card transactions, a process that is standard practice in other nations.

The cybersecurity climate is already an all-hands-on-deck situation, so one more threat – even one prompted by one of America's loudest voices – may not matter.

Now is the time to correct the mistakes of interchange price controls that harm consumers and community financial institutions to the benefit of merchants.

Banks typically respond to pending regulations with a mixture of fear and dread, but new cybersecurity requirements being developed by the banking agencies may be met with relief.

Directors and senior executives have a duty to inculcate risk culture into banks so that everyone works as a team to contain cyber and other risks, including the human vulnerabilities within.

The Office of the Comptroller of the Currency's recent guidance on internal messaging software could impose significant hardships on banks and runs contrary to prevailing guidance on cybersecurity.

The industry-led EMV Migration Forum is changing its name and expanding its focus to accommodate the myriad changes that are happening alongside the move to chip cards.

As part of an organization that's waged a four-year campaign against passwords, Brett McDowell envisions wearable technology as the nail in the coffin of antiquated security.

Though an extremely effective solution to a very specific problem, tokenization is more of a single piece of the security puzzle than the end-all of stopping data theft and credit card fraud.

Bank chief information security officers are increasing cybersecurity spending and focusing on mobile banking defense and regulators' cyber concerns, a SourceMedia Research survey finds.

An identity protection startup called Civic wants to tackle data breaches by giving consumers control over who uses their information.

Scrambling to stop hackers from making away with stolen funds, the community involved in the cryptocurrency experiment Ethereum has voted to implement a major software change that would thwart the thieves and help the blockchain regain momentum.

Earlier this year, the Federal Deposit Insurance Corp. (FDIC) narrowly avoided disaster when sensitive information for 44,000 agency customers was stored without proper security measures…on a personal storage device.