Security risk

There are lots of layers technology risk-mitigation features, and in addition, network-level mitigation is provided as well, writes Robb Gaynor, chief product officer at Malauzai.

Resourceful crooks will relentlessly probe systems, processes and people until they find a weakness or an opportunity. That weakness is the magnetic strip that still exists on all EMV cards, according to Nathan Horn-Mitchem, senior vice president and chief information security officer at Provident Bank.

The Federal Trade Commission contends Venmo misled consumers on funds availability and security disclosures
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By investing in next generation strategies and shifting their mindsets about testing, organizations can better safeguard and control the payments process, providing a more reliable customer experience and better protecting one of their most important assets—their reputations, writes Steve Gilde, a director at Paragon Application Systems.

By taking advantage of the peak sales periods with higher-than-usual transaction volumes such as Valentine’s Day, criminals can use legitimate payment and shipping platforms without raising fraud alerts, writes Ron Teicher, CEO of EverCompliant.

This trend will continue until banks have addressed key vulnerabilities, according to John Gunn and David Vergara of VASCO Data Security.

The proliferation of wearable devices, their increasing sophistication, the uptick in wearable-optimized applications and the willingness of consumers to trade PII for convenience is converging to create a perfect storm of risk that has the potential to threaten commercial enterprises, writes Michael Lynch, chief strategy officer at InAuth.

Breaches help crooks diversify, but stolen cards thrive in the black market, writes Angel Grant, director at RSA's fraud and risk intelligence unit.

To date, the vast majority of security investment has focused firmly on keeping the bad guys out. It only ever works to a certain extent. This is because there is much greater impetus for the hackers to devise new methodologies to gain access and the security industry at large is only ever playing catch up, writes James Barham, chief commercial officer at PCI Pal.

With their millions of customers, large retailers like Forever 21 have typically been the hardest hit, writes Mark Cline, a vice president at Netsurion.