The industry still grapples with stopping corrupt employees — the failure of CBS Employee FCU last year highlights that — and now that could become even harder with the pandemic.

New features and improvements often take a back seat to security, says Entersekt's Claudius van der Meulen.

Card fraud risks — already soaring prior to the coronavirus outbreak — are changing rapidly as the pandemic deepens, forcing issuers and merchants to rethink protective measures.

Address verification, geolocation and 3-D secure can all play a role, according to Chargebacks 911 and Global Risk Technologies' Monica Eaton-Cardone.

Digital payment firms and fintechs are nimble and responsive, but that also creates web supply chain attack risk, says Jscrambler's Rui Ribeiro.

While financial institutions are encouraging customers to use their digital banking services rather than the branch or ATMs during the outbreak, attackers will also be looking to exploit this potential increased adoption of mobile banking and mobile payment apps, says OneSpan's Sam Bakken.

As coronavirus forces most shopping to occur online, merchants will likely see their product return policies tested by both good customers and the unsavory ones who abuse those policies for profit.

The COVID-19 pandemic has already given rise to false marketing of test kits and criminals impersonating the FDIC. Consumer advocates say the bureau could issue alerts as well as empower banks to help safeguard their customers’ funds.

While the global coronavirus outbreak may be grounding corporate travel to a near standstill, leading travel companies and fintechs are continuing to hone AI-based payments platforms to reduce the problem of corporate travel fraud.

Over the next few weeks, U.S. businesses with online platforms might be tempted to relax fraud controls to free up potential friction – they shouldn’t. It could mean major fraud hits.

Fraudsters who claim they work for the agency are taking advantage of coronavirus confusion to try to con consumers out of bank account information and money.

Digital fraud protection provider Kount has launched a security layer designed to prevent account takeover.

As smart device adoption continues to grow, users must be vigilant to not only change passwords but to take advantage of advanced security settings. By introducing 2FA, Google is adding necessary security measures to protect consumers, according to Pulse Secure’s Sudhakar Ramakrishna.

Fraudsters tend to be oporptunistic. They’re constantly looking for new ways to abuse businesses and cardholders, making it difficult for security professionals to keep up, says Chargeback 911 and Global Risk Technologies' Monica Eaton-Cardone.

Financial institutions need to alert customers about emails or websites that pretend to offer important COVID-19 information but instead could end up stealing their account numbers or logins.

Artificial intelligence has given merchants and banks handling payment data a fighting chance against fraud because it essentially pits machine against machine in compiling data and establishing prevention algorithms.

In spite of MGM’s quickly notifying hotel guests impacted by the breach in accordance with applicable state laws, it’s a clear concern that many of the contact details were still valid, particularly the phone numbers, says Shared Assessments' Tom Garrabba.

Operational efficiency has long been the key to selling AP automation, but a growing payment fraud problem and new risk exposures are giving businesses new reasons to digitize payments.

The regulator barred nearly a dozen former credit union employees from working with any financial instiutiotn following charges of theft, embezzlement and more.