Kevin Christensen / Kevin Christensen oversees Shazam’s audit and compliance programs as well as its risk management program, which includes fraud operations and chargebacks. He joined Shazam in 2004 and has served as vice president of audit since 2008.
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Low-income households pump money into retailer wallets

A new research paper by three economists predicts that the little guy will shell out more money as FIs seek relief from the revenue-slashing effects of the interchange cap.

Card evolution: A bridge between plastic cards and mobile phones

Among the hundreds of new payment technologies popping up around the world, one in particular has caught my eye. Called Coin, it's a single plastic card that allows a consumer to load up to eight other cards. As someone who...

PCI compliance for acquiring financial institutions

In my last post, I took a look at the question, "Does our financial institution need to be PCI compliant?" While the short answer is yes, the long answer is that validation of compliance often is not required. However, for...

Does our FI need to be PCI compliant?

PCI compliance continues to be a confusing — and frustrating — topic. However the short answer to the question above is yes. All members of the various card brand networks (Visa, MasterCard, Amex, Discover) are required to be PCI compliant.

How often are data breaches really reported?

Many Target customers are upset, and understandably so. In their view, the retailer did not do enough to protect their private information from the crooks. Consumers' confidence in the security of their data is shaken, and not just among Target's customer base.

For authentication, consumers want simple and secure

Our lives are increasingly digital, which makes accessing our personal information and accounts a daily activity. Resultantly, authentication has taken on a starring role in the area of security and risk. This high-profile position has attracted innovators intent on coming...

What’s your FI’s fraud prevention philosophy?

As with any great debate, you'll find advocates on both sides of the mobile banking fraud question. Some believe smartphones and tablets, in combination with emerging authentication strategies, are the magic bullet that will bring a meaningful decrease in fraud...

Mobile wallets address two pain points for ATM operators

It's no secret that ATM transactions have been waning for several years. As as result, today's operators are challenged to find more ways to: a) increase the value of the ATM in the everyday financial lives of consumers; and b)...

Debit card reissuing part I: To reissue or not to reissue?

The longer a card is present in the marketplace, the more likely it is to become compromised. Research indicates that the least amount of fraud losses occurs within the first 12 months of a debit card's activation. As a general...

Debit card reissuing part II: 4 tips for safe debit card reissue

In a previous post, I shared tips for deciding whether to reissue a compromised or stolen debit card. When the decision is to reissue, there are a few things to keep in mind. What follows are a few ideas for...

Malware a threat for mobile banking customers

This post concludes a series on risk assessment for mobile-banking apps. Malware isn't just for computers anymore. Increasingly, the nasty little viruses are showing up in tablets, smartphones, and even kids' gaming devices.

Non-compliance creates significant risk with mobile banking products

This post continues a series on risk assessment for mobile banking apps. Regulations on mobile-banking products, services, and practices continue to evolve alongside the technology that supports these next-generation solutions. Keeping up to date on the rules and requirements is...

Have you talked to your legislators lately?

Just like average Americans, U.S. financial institutions vary in how involved they like to get in the world of law-making.

More regulation isn't the answer to breach losses

Data breaches have become somewhat of a fact of life for those of us in the payments field. For financial institutions, unfortunately, these breaches have also become a cost of doing business. As BankInfoSecurity editor Tracy Kitten recently wrote in...

When a fraudster ‘borrows’ your customer’s smartphone

This post continues our series on risk assessment for mobile banking apps. Smartphone theft is a burgeoning crime, and one that is definitely not victimless. A few years back, stolen cell phones were an inconvenience — victims had to replace...

Are logins really necessary?

Banking on the assumption that cardholders often value convenience over security, at least one major issuer has stepped out with a mobile app that gives users access to key account details before asking them to log in. Proponents of these...

Why EMV liability shifts shouldn't freak you out

It's easy to understand why many community financial institutions are in a panic about the impending inter-regional liability shift for ATM fraud. Introduced by MasterCard not long ago, the April 19 deadline has received quite a bit of news coverage...

FDIC warns of entrepreneurial companies in mobile payments

In its winter edition of Supervisory Insights, the FDIC examines the evolving mobile landscape, concluding that two industry predictions in particular appear to be well-founded. Those predictions are: 1) a three-to-five year timeframe before mobile payments achieve marked consumer adoption,...

Watch those NACHA emails

Community banks and credit unions can make a significant dent in fraud losses by giving cardholders a heads-up where fraud is concerned. This is particularly important in the area of phishing attacks, which are coming fast and furious – and...

One very easy way to reduce fraud loss

Fraud prevention is a complex endeavor. There is a litany of methods a financial institution can implement to lower or even stop debit card fraud.

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