security

Why Bank Security Is About More Than Preventing Attacks

The world can be a scary place these days, especially for banks. According to recently released reports, fraudsters are continuously targeting big U.S. banks, and these attacks are increasing in both frequency and sophistication.

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Big Banks See Uptick in Cyberattack Attempts

Sources have reported that some large U.S. banks have seen a boost in attempted cyberattacks in recent weeks.

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Payment Security Requires Collaboration and Participation From All Parties

Three decades ago, payment fraud was simpler, a one-to-one relationship where the criminal stole a physical card and used it in a physical store. Now criminals steal millions of credentials at a time – they are far more sophisticated and globalized – and cybercrime is big business.

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Digital Pay Fraud Wave Should Bring EMV Token Gateways to Cards on File

Card-on-file (the process of collecting and storing payment card credentials) is fundamental to the card-not-present (CNP) ecosystem, facilitating the delivery of popular payment methods such as one-click ordering and recurring payments.

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SMS Authentication Is Broken – Can Newer Tech Protect Payments?

Many companies no longer rely on static passwords alone, and use two-factor authentication to protect consumer accounts. The problem is they’re using the same second factor: text messages sent to mobile devices.

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Credential Stuffing Attacks Cause Heartache for the Financial Sector

The financial industry has always been a target for cyberattackers. Credit card data, customer information, and the wealth of corporate data available for the taking has ensured that cybercriminals will try, again and again, to compromise companies in the sector. In August, cyberattackers made off with 13.

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Financial Industry Standards Body Releases Rules Aimed at Tightening Mobile Security

Mobile payments are booming in places like China and India, but in the United States, not so much. Year after year, one reason that keeps popping up in surveys is concerns about security, and on Tuesday a major standards body announced a measure aimed squarely at those fears. The Accredited Standards Committee X9 Inc., an […]

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Point of Sale Attacks Are a ‘Point of No Return’

An onslaught of cyberattacks are targeting point-of-sale (POS) systems from restaurants and retailers so cybercriminals can easily steal credit card information to illegally buy goods and services online. It is one of the largest piggy banks that cybercriminals take full advantage of.

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British Airways Breach Caused by Credit Card Skimming Malware, Researchers Say

A security firm says credit card skimming malware installed by hackers on British Airways’ website a few months ago was to blame for a data breach of over 380,000 credit cards. Payments through the airline’s website and mobile app were stolen over the three week period, but a key clue was that travel information wasn’t […]

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What Consumers Are Doing to Protect Their Data a Year After the Huge Equifax Breach

In the year since the massive data breach at Equifax was revealed, consumers appear to have become more vigilant about identity theft. Nine out of 10 people have taken steps over the last year to protect themselves, mostly by reviewing their card and bank statements more often, according to a new survey by CompareCards.com.

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Britons Concerned Over Security of Contactless Payments, Research Finds

Davizro Photography – stock.adob British consumers are increasingly favouring contactless payments over using cash, despite enduring security concerns about the technology, MoneySuperMarket research shows.

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Fiserv Flaw Exposed Customer Data at Hundreds of Banks

Fiserv, Inc., a major provider of technology services to financial institutions, just fixed a glaring weakness in its Web platform that exposed personal and financial details of countless customers across hundreds of bank Web sites, KrebsOnSecurity has learned. Brookfield, Wisc.

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