Payment fraud

Consumers and banks are both concerned about security tied to contactless payments, says Fingerprints' Lina Andolf-Orup.

Merchants won an extension to comply with PSD2’s new customer authentication rules, but as new rules for issuers go into effect next week, TSYS is rolling out tools that aim to do double duty.

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.

Consumer trust is hard to win, easy to lose, and eroding daily as attackers achieve success with fraudulent transactions, says NuData Security's Justin Fox.

Many companies have tools in place alerting them to possible security issues, but if companies get a large volume of issues, this quickly overwhelms the ability for security and risk professionals to analyze, prioritize, and remediate, writes DivvyCloud's Chris DeRamus.

Debit cards often lack the rewards and spending power of credit cards, and thus do not figure prominently in TV ads or direct mail flyers. Yet despite these limitations debit cards are beloved by millennials and anyone else who wants to avoid credit card debit.

With lots of day-to-day IT tasks and countless systems to configure, it's easy to make mistakes, says Brian Kelly, CEO of CloudBolt.

Just as AI technology is being leveraged by hackers to create botnet armies, it can be utilized by organizations to better detect these very attacks, writes Imperva's Terry Ray.

With the Federal Reserve last month citing synthetic identity fraud as a growing concern for financial institutions, there's more pressure to detect fraud at the start of the relationship.

Any time a new market opens up, fraudsters rush in to exploit it — and this is especially true of high-risk markets like gambling.

There are several ways attackers take advantage of payment systems. Understanding that is part of the battle, according to Bill Horne of Intertrust Secure Systems.

Not only does it illustrate the willingness of regulators to impose massive fines for massive data breaches, it also reminds us that this situation could be just the tip of a financial iceberg, says White Hat Security's Mark Rogan.

Blockchain and distributed ledger technology offer many of the basic elements that are essential components for PCI DSS compliance, writes Doug Wick, chief product officer at ALTR.

Financial crime screening solutions that are fueled by high quality sanctions and screening data will be a crucial component to achieving success in this complex compliance environment, writes Accuity's Nirhjar Daripa.