The company says its exposure involves a participation loan to a business customer for which it was the originator.

The unnamed borrower was the victim of an alleged scam by another company.

Static fraud prevention has no place in the current digital world, says Accertify's Stuart Mann.

It's not on consumers to fix this problem, says NuData Security's Justin Fox, who argues organizations must get more cooperative and proactive to improve authentication.

Enterprise payments remain a complex litany of disparate processes burdened by fraud, labor and errors, says Troovo's Kurt Knackstedt.

U.S. counterfeit card losses have plummeted in the past four years, a signal the challenging EMV migration has made a dent.

There's equal importance on encrypting data and securing the server, says STEALTHbits Technologies' Adam Laub.

Many futurists and pundits predicted email would be obsolete by 2020, replaced by a new, superior communication channel.

The equation is no mystery to those in payments or financial services: Expand your digital footprint, and you expand the opportunities for hackers to damage your network.

James Farrell, who ran New Haven County Credit Union from 1992 to 2015, transferred funds from the CU's general ledger into the account of a local business.