Compliance

SAN DIEGO — Volunteer directors have many duties at their credit unions, but according to NCUA Vice Chairman Rick Metsger one of the most important is being a watchdog for the CU.

Next year's updates to the Payment Card Industry data security standards will give compliant retailers better protection, but hackers will be targeting the weaknesses of companies that don't put in extra effort.

The growing prevalence of Internet-connected devices, along with a seemingly endless string of data breaches, is creating more opportunity to convince retailers to safeguard sensitive account data through new technology.

Credit unions and banks are having pressure complying with regulatory requirements when it comes to managing risk, according to a study from Wolters Kluwer Financial Services.

Fuel retailers may shudder at the potential costs of upgrading gas pumps for EMV chip-based card acceptance, but they are a prime target for vendors offering secure mobile payments and deeper fraud-screening analytics.

Friendly fraud may sound like less of a threat to business than other more large-scale, aggressive attacks, but this sleeper predator costs retailers nearly $12 billion per year, leaving unprotected merchants completely empty-handed and liable for fraud that wasn’t really fraud in the first place.

International Dairy Queen, the ice cream chain owned by Warren Buffett’s Berkshire Hathaway Inc., said customer data were compromised by hackers.

Merchants hope this year's holiday shopping season is better than last year, when high profile data breaches stole the headlines.

I have coined the phrase "managed risk" merchant to correctly define and segregate the stigmatism that traditional Card Not Present (CNP) merchants obtain when labeled as "high risk" merchants.

Online authentication software from Nok Nok Labs now supports Apple's TouchID application interface, enabling consumers using any custom iPhone applications to leverage the fingerprint scanner for authentication.