Data security

Despite the enormous hype and investment surrounding biometric technology, U.S. Bank's Elavon predicts that fingerprint, "selfie" and voice-based authentication will not render passwords obsolete anytime soon.

On any given day, there are countless articles circulating about the issues associated with EMV and how it will soon be replaced by the next big thing. However, EMV is here to stay, and, despite some who claim otherwise, that’s a good thing.

When EMV came to market in Europe in the 1990s, it entered a world with a much less robust communications infrastructure than what the U.S. has today. So, following the launch of EMV in the U.S., Visa decided it was time to break some old habits.

A closer look at a strangely named piece of malicious software shows it makes crafty use of drive-by downloads and Web injections to fool users into complicity with online banking fraud.

While beneficial for businesses and consumers, Nacha's new rule for same day transactions will require banks and other financial institutions to review thousands of additional transactions per day, leading to a significant increase in costs, not to mention an increased potential for fraud due to volume and rapidness of review.

As mobile wallets become more popular they'll also become more popular targets for fraud. Banks ought to improve enrollment guidelines and other security tools in plotting their mobile-wallet strategy.

Cyberthieves using malicious software discovered by IBM Security have stolen $4 million from business customers of two dozen financial services providers this month, IBM said.

Experts from across the payments industry gathered in Los Angeles for SourceMedia's annual Card Forum and Expo. Here are some of the biggest ideas discussed at this year's event.

Biometric authentication is coming to numerous e-commerce merchants who may not realize that it will be a part of their checkout process, depending on the issuers involved.

President Barack Obama has appointed MasterCard CEO Ajay Banga to an administrative commission focusing on Web security.

The inadvertent downloading of thousands of consumer records to a thumb drive at the FDIC could happen anywhere. Here's a look at what the FDIC did right and what it could have done better.

With fraudsters gearing up to assault mobile wallets, U.S. financial institutions considering a bank-branded mobile wallet would be wise to take note of the lessons learned when Apple Pay made its debut in the fall of 2014.

If the EMV chip-card migration in the U.S. taught the payments industry anything, it's that some players meet compliance deadlines, while others let them slip by.

The U.S. migration to EMV chip technology – intended to reduce card fraud, provide global interoperability, and enable safer payment transactions – may prove to be a valuable move for more than just the payments industry.

The word “tokenization” is being used far too broadly to describe a variety of payment security methods that perform different security functions.

Data breaches have become scarily commonplace. But even small financial institutions can take action to thwart hackers and minimize losses.

A former Federal Deposit Insurance Corp. employee took off with data on some 44,000 customers of closed banks when she left the agency in late February, according to an agency memo uncovered by The Washington Post.

Could blockchain be the backbone of a universal digital identity system?

A taxpayer's annual refund is a big prize that fraudsters are eager to steal. Many new risks are being introduced by new technology, but there are cross-industry efforts to combat these new schemes and make sure each refund gets to the proper household.

Time has run out for “knuckle-busters,” the clunky contraptions merchants needed for decades to accept card transactions, but their legacy—the raised characters embossed on payment cards—is proving difficult to stamp out.