Compliance

Financial technology firm Fiserv has developed new anti-fraud systems for automated clearinghouse and wire payments.

WASHINGTON — NCUA General Counsel Michael J. McKenna told the House Financial Services Committee Tuesday that 70% of new rules put in place by the agency since last January have provided regulatory relief to credit unions without incurring additional costs.

A lot of merchants may not realize that they are using point of sale technology that runs on Windows XP, which Microsoft will no longer support after April 8.

Stepped-up scrutiny of Internet payday lenders, online pharmacies and other merchants that regulators and law enforcement view warily is forcing the payments industry to adapt.

Class actions related to Target Corp.'s massive data breach will be consolidated in the retailer's home state of Minnesota.

Data security provider Foregenix is in the thick of the endless war on cybercrime. And the payments industry's biggest weapons are no deterrent to fraudsters, says Andrew Henwood, CEO of U.K.-based Foregenix.

Vietnam Eximbank has implemented biometric technology for over-the-counter and ATM transactions where only fingerprint is needed for authentication.

Last year, IdentityMind Global's banking partners began asking the anti-fraud and risk management provider to build an anti-money laundering system for the Bitcoin startups among the bank's clients. IdentityMind Global has now completed development on this AML technology.

CUNA is asking the House Financial Services Committee to "thoroughly examine" NCUA's proposed risk-based capital rule and direct the agency to make significant changes to address "serious deficiencies" in the proposal.

Security vendor Trustwave has been named in another lawsuit filed against Target for damages related to the retailer's 2013 data breach.