Analytics

Target has agreed to pay $39 million to settle loss claims from a two-year-old data breach that were brought by MasterCard and a group of financial institutions, according to court documents filed Wednesday.

Lloyds Banking Group in the U.K. has made Deborah McWhinney its third nonexecutive director. She joined the board at Lloyds Monday and also serves on its audit and risk committees.

The long-running tension between anti-money-laundering rules and data privacy concerns is especially pronounced in the awkward relationship between regulated financial institutions and digital currency businesses.

The introduction of EMV cards didn't significantly slow transaction times at U.S. retailers during the Black Friday shopping event, but there are still many wrinkles to iron out at the point of sale.

While consumers hunt for deals during the holiday online shopping frenzy, fraudsters are doing the same — using the credentials they've hoarded from any number of data breaches the past year.

The U.S. is a long way from widespread adoption of EMV, but security analysts say the boom in online shopping—plus a surge in consumers' use of mobile devices for holiday purchases—will make it easier for fraudsters to hide their moves as they redirect their efforts from retail to online channels.

To counter the rising rate of e-commerce fraud, U.K.-based myPINpad plans to provide a virtual PIN pad for mobile-generated online transactions through the VocaLink network for the next five years.

Banks give a lot of reasons for providing chip cards that work with signatures, rather than four-digit PIN codes, but none of them are convincing.

The proliferation of easy-to-use analytics tools has allowed community banks to do what used to take teams of quants to accomplish. Some are using it to get an edge in M&A, others are using it to improve efficiency.

At long last, the National Retail Federation has won the support of several U.S. attorneys general in its demand for chip and PIN security at the point of sale. But even this isn't enough.