The majority of retailers accepting credit cards are still vulnerable to the newest threat to accepting credit cards from consumers. Researchers from the Cisco Security Solutions team have dubbed the latest malware to attack point-of-sales (POS) systems PoSeidon.
Global Risk Technologies (GRT) dynamic risk mitigation announced its end-to-end risk management solutions to European merchants. Helping acquirers and issuers minimize chargebacks, the Global Risk Technologies solution provides highly-scalable and sustainable technology designed for outsourced post-chargeback processing, risk mitigation and merchant education. Sustainable chargeback remediation, Global Risk Technologies’ solution identifies the right target and helps decrease the negative impacts of chargebacks, thereby increasing processing retention and revenues, and helping combat cyber-shoplifting, resulting in sustainable, secure growth. The company aims to free redundant resources dominated by reactive risk management mechanisms and help revolutionize and standardize these processes by providing an end-to-end solution that manages each component in its entirety.
The vast majority of Indian consumers (88%) but fewer than half (45%) say retailer data have read or heard about major retailer data breaches in the past year, breaches have increased their concerns about their personal data privacy during the same period. The majority (46%) characterize the way they manage data privacy on connected devices they own as Take-Charge rather than Reactive (39%) or Passive (15%).
The survey of U.S.-based financial industry professionals was conducted in March 2014 at BAI Payments Connect and reports that 44% of customer accounts have been compromised. More than 15% of financial institutions indicated recent breaches put more pressure on fraud operations resources to do more to protect themselves while 12% indicated that they experienced a negative impact on their brand. Over 75% of respondents said they are looking at additional resources to combat fraud in their organizations, of which 50% are looking to invest in fraud detection system technology, 15% are investing in more training for their fraud management teams and 10% are beefing up staff with new personnel. Although data breach-related fraud has a negative impact on the bottom line and on the industry in general, over 40% indicated their customers appreciate the proactive outreach and response to market events.
Online privacy company Abine is providing Masked Credit Cards for free to exposed shoppers for their next online or offline purchases. Masked Credit Cards enable consumers to shop without ever revealing their actual credit card number. The result? 100% protection from data breaches. Abine’s Masked Credit Cards protect your existing credit cards by providing an alternative to giving out your real credit card for purchases. Masked Credit Cards have completely unique 16-digit card numbers, expiration dates, and security codes, so the places you shop never get your real credit card info. These cards are one-time use only, can be created with any existing debit or credit card, and expire right after you use them.
Fiserv released a white paper that offers financial institutions insight on how to develop a comprehensive enterprise mobile alerts platform to boost customer engagement and meet regulatory requirements related to customer notifications. The paper discusses consumer use of alerts, considerations for building an alerts platform and strategies for deployment in phases and across channels. The white paper, “Enterprise Alerts: The Superhighway to Delighting Customers with Timely, Relevant and Actionable Information,” can be downloaded at www.fiserv.com/enterprise-alerts. An enterprise alert system, or a “superhighway” of two-way informational flow, should be seamlessly integrated with all banking channels to support information access and management reporting. The “Enterprise Alerts” white paper outlines considerations for building and rolling out an enterprise alerts platform, as well as best processes for supporting alerts across channels.
Insperity human resources and business performance solutions launched its “ExpensAble Plus” MasterCard, offering clients front-end spending control through the integration with the Insperity ExpensAble Corporate expense management automation solution. Businesses now have complete control over spending allocations with the ability to reload the Debit MasterCard or rescind unused funds at any time. The product suite includes variations of the card with unique features and functionality, including spending limits, merchant category restrictions and the ability to add additional funds electronically if circumstances change or emergencies arise. The Debit MasterCard also enables a business to easily manage expenditures for events and conferences. It provides a controllable spending mechanism for mobile sales forces as well as for employees or contractors who travel frequently. Furthermore, the debit card allows for higher limits and options for executives who need more flexibility. Transactions made on the card automatically pre-populate into the Insperity ExpensAble software, eliminating the need for employees to re-enter relevant information.
Compass Plus retail banking software and electronic payments systems to financial institutions released a white paper, “The Rise and Fall of a Fraudulent Transaction,” detailing the evolution of financial services and how financial institutions must deploy multiple layers of protection in order to stay ahead of the fraudsters. It shows how the financial services sector has undergone a transformation in the last 10 years with customers no longer needing to visit their bank – Internet, mobile and self-service kiosks, including ATMs, now provide access to services at all times. Compass Plus outlines the various types of fraud that are prevalent today and the numerous layers of protection that can be used to combat them.
LogRhythm, the leader in log management and SIEM 2.0, announced that CPM, a global integrated sales strategy specialist, has deployed its integrated log management and Security Information and Event Management (SIEM) solution, to ensure compliance with Payment Card Initiative Data Security Standard (PCI DSS) regulatory requirements. The system also enhances the organisation’s security and allows…
High-Tech Bridge SA (htbridge.ch), a leading Swiss information security company, has joined the PCI Security Standards Council as a new Participating Organization. High-Tech Bridge will work with the Council to achieve and improve payment data security worldwide through the ongoing development of the PCI Security Standards, including the Payment Card Industry Data Security Standard (PCI DSS), PIN Transaction Security (PTS) requirements and the Payment Application Data Security Standard (PA-DSS). With this, High-Tech Bridge adds its voice to the standards setting process and will receive previews of drafts of standards and supporting materials in order to provide feedback to shape their final versions, as well as engage a growing community of more than 600 organizations united to improve payment security.
Pulse Electronics Corporation electronic components and STMicroelectronics semiconductor manufacturers partnered on research testing the accuracy of current sensing in metering applications. The application note, “Current sensing in metering applications using a Pulse Electronics current sensor and ST metering devices,” having tested STMicroelectronics’ STPMxx metering devices using several different current sensors, found exceptional linearity over a wide current range. When used with STPMxx ICs, the accuracy of the meter is boosted, meeting the Class 0.2 S accuracy limits defined by the IEC 62053-22 meter standard for currents from 0.1 A to 200 A.
U.S. Bank has made available its payment analytics tool, allowing clients to monitor their corporate card transactions and identify and minimize misuse and abuse. U.S. Bank Payment Analytics transforms an organization’s expense control practices from reactive to proactive by flagging all rule violations and co-relating seemingly unrelated events that together represent an effort to work around corporate standards. U.S. Bancorp has $308 billion in assets, operates 3,069 banking offices in 25 states and 5,310 ATMs.