Investment

The United States is one the last developed countries to migrate to an EMV-based payments infrastructure, with a card network-imposed liability shift going into effect on October 1.

The Federal Trade Commission has closed its investigation of Morgan Stanley's massive data breach. It has identified the problem that allowed the breach to happen: access controls to a narrow set of reports were improperly configured.

While the average consumer’s banking and payment account information may not be considered as highly-sensitive as the "non official cover" list from Mission Impossible, multi-layer authentication is still the best way to fend off fraudsters.

When the card networks' October deadline for EMV-chip card adoption arrives, things will likely have changed very little compared to how they are today.

Anthony Murgio, who is accused of running a Bitcoin exchange that laundered money and who has been linked to one of the largest bank hacks in U.S. history, can remain free on $100,000 bail.

When cardmaker American Banknote (ABnote) CIO John Ekers discussed his company's Apple Passbook Android clone last week, he observed that "in the last 3-4 weeks, we're getting a lot more interest in limited use keys (LUK)," which is the first element of tokenization.

Fraudsters, anticipating the U.S. shift to EMV security at the point of sale, are busy looking for ways to hack into the e-commerce sites and consumer bank accounts that will be unaffected by the change in payment card security.

There is money to be made for merchants who support mobile payments. However, cyber criminals have noticed and they want their cut, too. The newer and more untested the technology, the greater its potential vulnerability.

Protecting payment card data is a never-ending struggle, and the fraudsters are only getting more creative. So far this year several incidents and studies have demonstrated the evolving nature of cybercrime.

Battery Ventures, a tech-focused investment firm, has agreed to acquire Physical Security Business Unit, part of the security division of Nice Systems, a vendor that focuses primarily on the financial services industry.