Data security

Using methods akin to fighting external hacking can also address risks of employees committing legal or ethical lapses.

Lawmakers investigating a slate of cybersecurity breaches at the Federal Deposit Insurance Corp. have accused agency staff of purposefully muddying the waters in an effort to evade Congressional scrutiny.

As financial institutions dive into the newest channels to reach consumers and accept payments in every moment of their lives, they enter riskier scenarios that create a greater need for multi-factor authentication.

For three years, the Fast Identity Online Alliance has focused on replacing static passwords through stronger device authentication technology, with a long-term goal of translating those advancements into payment security as well.

Nearly half of U.S. consumers say they have been hit by credit card fraud within the last five years, and those breaches are becoming more commonplace, according to a survey released Tuesday.

Offering a new product or considering a merger may boost returns, but the Office of the Comptroller of the Currency says changes in strategy can be risky.

Big banks were seen as winners in the Trans-Pacific Partnership, but their support for the pact is in question as a result of their treatment in a data-related provision.

Wendy’s Co., which reported a payment-card hack earlier this year, said that the breach affected about 18 percent of its U.S. locations.

It seems we cannot go a week without news of a malware attack of some kind, be it ransomware, stolen credit card information or other security breaches. The increasing trend is that not only are organizations and enterprises affected, but also regular consumers.

The feature allows users to request cryptographic signatures by more than one user – a device or institution – to validate a transaction. The idea is that bad or malicious actors would have to breach multiple machines to transact on one user's behalf, Ripple said in a blog post.

When surveyed, consumers will say security is far more important than convenience when making a payment — until they reach the checkout. Then convenience feels pretty good.

Banks have mainly shied away from programs that invite hackers to scrutinize their applications. But PayPal, Western Union and others who have tried them say bug bounty programs are an effective way of making apps more secure.

Chief information security officers at banks say their top priority is keeping data of all kinds (customer, employee, credit, performance, you name it) safe from attacks. They answered candidly when we asked who or what the greatest risks are.

PayPal, Western Union and others who have paid hackers to scrutinize their applications say bug bounty programs are an effective way of making apps more secure.

Visa Inc. has thrown its counterpunch at Walmart, saying the retailer had previously agreed to accept signature debit transactions in addition to chip-and-PIN transactions at its point of sale terminals.

The approach of many payment and financial services companies to security is still stuck in the 20th century. But luckily, firms of all sizes can choose to travel in time to 2016.

The credit card industry’s switch to microchips is expected to improve security at the point of sale, but fraudulent online purchases remain a big vulnerability.

Bankers, fintech entrepreneurs, regulators and other financial services players gathered in New Orleans last week to discuss the future of the industry at SourceMedia's Digital Banking 2016 conference. Here are some of the highlights of the conference. For more, check out the hashtag #digibank16 on Twitter.

Bankers, fintech entrepreneurs, regulators and other financial services players gathered in New Orleans last week to discuss the future of the industry at American Banker's Digital Banking 2016 conference. Here are some of the highlights of the conference. For more, check out the hashtag #digibank16 on Twitter.

Building on industry initiatives to ease the user experience for chip cards and increase use of contactless technology, Oberthur Technologies has developed a dual interface card in the U.S. market that combines new Visa and MasterCard specs and 'tap and go.'