Investment

MasterCard is cooperating with a European investigation into its fees, though it is questionable that this process will have a widespread effect on interchange, according to MasterCard CEO Ajay Banga.

While tokenization does represent progress, it is important to consider whether tokenization is, in fact, enough to secure online payments. There are some vulnerabilities, and as cyber thieves grow more sophisticated, companies will have to continue to innovate better security solutions, as well as ensure the ones that are on the market are being used as effectively as possible.

Bank regulators are likely to take further action to force banks to upgrade their cybersecurity processes as hackers continue to find ways to penetrate institutions’ defenses, Benjamin Lawsky, the top former New York bank supervisor, said Tuesday.

There's a classic approach behind many of the retail cyberattacks that make the news: Backoff malware, which “sniffs” the traffic that flows on a network to identify and steal credit card data passed between point of sale (POS) terminals.

Fiserv has agreed to use Fujitsu's handprint-scanning system for fraud prevention in its account-processing product.

Claims of security lapses at LifeLock and Experian call into question the value of these companies' identity theft protection services, which many banks offer to their customers.

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.

PayPal's gotten off to a rousing start as an independent company, but Visa CEO Charlie Scharf doesn't appear to be worried.

New York State's interim bank superintendent is asking pointed questions of a new instant messaging service. The outcome of the inquiry could broadly affect the way vendors work with regulators.

Identity theft protection company LifeLock is coming under fire from the Federal Trade Commission for failing to adequately protect customers' credit card and bank account data, Social Security numbers and other sensitive personal information, among other allegations.