Data security

It’s taken the U.S. years to embrace, but the migration to Chip and PIN payment technology and its associated “liability shift” will finally happen in 2015.

Processor First Data is working more closely with long-time partner Underwriters Laboratories to speed up the EMV testing process and certify the chip-card technology in the U.S.

Payment companies and merchants are taking the wrong approach to cybersecurity if they address problems only after they arise.

The White House rolled out several more cybersecurity provisions on Tuesday, including a proposal to better coordinate information sharing between the government and the private sector around cyberattacks and emerging threats.

Banks can be compliant with cybersecurity guidelines and still remain vulnerable to massive liabilities. One case in point: many financial institutions carry mandatory insurance policies that could leave them on the hook for six-figure losses from corporate account takeovers.

While many agree that usernames and passwords should give way to more advanced identity management, progress toward this goal has been extremely slow.

A new push by President Obama to tighten cybersecurity at banks and other businesses could help light a fire under some firms that have historically been slower to react in the wake of a data breach and help financial institutions dealing with a tangle of confusing state laws.

Stage Stores, a department store chain based in in Houston, has beefed up its payment security with technology from Chase Paymentech and Ingenico.

Customers affected by cyberattacks frequently direct their wrath at financial institutions, whether or not a bank is responsible for the breach. Therefore banks need to have a strategic communications strategy in place.

On the heels of the recent barrage of payment card theft, banks are scrambling to roll out EMV based solutions, but is it enough?

One of the clearest things that sets Apple Pay apart from other mobile wallets is its incorporation of Touch ID fingerprint recognition. Now that Apple has opened up Touch ID to outside developers, the fingerprint tech is spreading throughout — and in some cases beyond — Apple's ecosystem.

Until last April, the young adviser now at the center of Morgan Stanley's massive client data breach was a sales assistant who spent the majority of his career under the tutelage of one the firm's wealth management teams.

Kofax, a financial technology company in Irvine, Calif., on Thursday released a product that allows lenders to capture and process electronic signatures.

The earliest implementations of the 3D Secure e-commerce system amounted to a password for consumers' payment cards and a link between consumer and card issuer — an idea that is growing stale in a world where consumers are able to authenticate payments with more sophisticated tech.

Biometric security has become a hot topic in the payments industry with many experts lauding its convenience and effectiveness. But there's no consensus on whether to store biometric data locally or in the cloud.

After National Credit Union Administration Chairman Debbie Matz revealed the agency is mulling new encryption standards, a trade association says the regulator should focus on its own steps to "better protect" member "data in its care."

The leak of client records at Morgan Stanley illustrates the danger posed when just one employee has unauthorized or unsecured access to sensitive information, as well as the ongoing threat to financial institutions from insider theft.

Like a coach turning to an old playbook, fraudsters have resurrected an e-mail spam method to attempt to steal personal and card data from bank customers in the U.K.

Xoom, a digital payments company based in San Francisco, disclosed that its systems were exploited for $30.8 million in fraudulent transfers to overseas accounts.

Chick-fil-A recently became the latest victim of a credit card breach, bringing to light the threat that all quick serve restaurants and small retailers are increasingly facing from hackers and data thieves and underscores the challenges businesses face in keeping their networks and data secure.