Compliance

Michael Terpin explains how hackers stole $24 million worth of cryptocurrency from his mobile phone and why he’s suing AT&T for $224 million; Luke Lombe of PlayChip describes his new ICO.

In the same way a card skimmer steals credentials at an ATM, gas pump or point-of-sale terminal, the Magecart malware hides beneath the surface of a website with a digital skimmer to obtain card and personal information.

Security researchers have raised alarms about the vulnerabilities of fax machines (yes, many banks are still using them) and printers. It is the kind of threat companies tend to overlook.

The advent of Faster Payments services plus Europe’s PSD2 have heightened concerns among banks about increased fraud risks. This has created opportunities for firms such as New York/Israel’s BioCatch and San Francisco’s BehavioSec, both of which develop technology around behavioral biometrics analysis.

Citigroup was so impressed with a test drive of AI software it invested in its maker; the FBI's warning of a cyberattack targeting ATMs came to pass — expect more to come; debating whether state AGs can serve as de facto CFPBs; and more from this week's most-read stories.

A letter supposedly sent to U.K. bank customers warns that Barclays debit cards could explode. The letter then urges recipients to mail their cards, along with their PIN codes, to an address in Bangalore. But is this really happening?

After researchers exposed how hackable mobile point of sale systems are, vendors quickly shored up their defenses — while also blaming some vulnerabilities on payment methods they characterize as outdated.

Due to all the data breaches and privacy mishaps, there is now a strong demand for a better, more secure solution for digital transactions, writes Mick Hagen, CEO of Mainframe.

Despite recent scrutiny of mobile point of sale devices, the mobile payments category as a whole has generally carried a promise of initiating a safer transaction through the use of biometrics, device ID, geolocation and other factors.

BNY Mellon, JPMorgan and Bank of America are recruiting interns from Year Up, many of whom lack college degrees but are trained in high-demand fields such as cybersecurity and anti-money-laundering.