Data security

Conflict continues to mount between the card brands and merchants. Merchants say they deserve more input and actual decision-making power and that payments should operate through completely open standards in which all involved parties have had a say.

Comerica will continue to handle the U.S. Treasury’s Direct Express prepaid card program, beating out other banks for the third time since the program launched in 2008, despite a high-profile glitch in 2018 that drew lawmakers’ scrutiny.

Traditional phishing attacks on email are easier for most users to spot, causing crooks to migrate to new venues, argues The ai Corporation's James Crawshaw.

In seeking a more secure way for consumers to use payment cards when shopping online, Deutsche Bank, Mastercard and Idemia say they have launched the first motion code card in Spain.

Despite the convenience wearable payments hold, there are still obstacles that remain. Some factors are cultural, such as cash usage, or even more deep seated in the human mind, such as concerns over security.

Pennsylvania-based Wawa recently discovered malware that may have been in place since as early as March. The chain has locations throughout the East Coast, meaning members of hundreds of credit unions could have had their cards compromised.

Innovation is showing little sign of slowing, creating both myriad benefits and risks moving ahead, says Visa's Paul Fabara.

Consumers face significant risk if this highly personal information is exposed, says Mitek's Stephen Ritter.

The first line of defense is to not pay the ransom. Then a layered approach to security and recovery plan can ward off the crooks, says Nominet's Stuart Reed.

A new report from the National Credit Union Administration's Office of the Inspector General outlines what to expect in the year ahead following some 2019 scandals.

Open banking transactions are not initiated by a consumer but are coming from another financial services company. This could make some fraud detection models in place today obsolete.

The bank sees digital assets as part of the future and "we want to be there when this happens," says Ralph Achkar, head of digital product development and innovation.

The National Credit Union's ACET tool will have a big impact on the industry, but passing the exam with flying colors could be a challenge for smaller shops.

A new system uses biometrics and distributed ledger technology to safeguard call centers from identity theft attacks.

In updating its point-to-point encryption standard, the PCI Security Standards Council says the resulting simplified validation process for component and software providers will result in more products available for cardholder data protection.

The agency’s semiannual report warned institutions to be mindful of operational risks from the innovation in core banking systems, and detailed supervisory steps to monitor the adoption of a new reference rate.

When a crisis does strike, all too often organizations struggle to coordinate ongoing, speedy and effective responses, even when they have valid and compelling things to say, according to RockDove Solutions’ Chris Britton.

The U.S. unveiled criminal charges and sanctions against members of a group that calls itself Evil Corp, which authorities blame for some of the worst computer hacking and bank fraud schemes of the past decade.

A report from the Financial Stability Oversight Council cited a bigger share of originations and servicing by nonbanks as a potential vulnerability in the financial system.