The Fraudulent Four: The world's worst payment frauds and security failures

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The payments industry never stops looking for new techniques and safeguards to stop thieves and fraudsters. Even so, we constantly hear about their exploits worldwide.

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The Diebold ActivEdge ATM card reader: A turn for the better?

Simply by rotating card orientation 90 degrees, Diebold aims to turn the ATM skimming underworld on its head.

Card blocking, consumer alerts are keys to fraud prevention

Financial organizations are on high alert regarding payments fraud in the wake of recent high profile customer data breaches. Although overall payments fraud has decreased, attacks targeting debit and credit cards continue to rise. The majority of financial service companies...

Bankers on the frontlines of cyber defense

Today, firewalls, encryption, antivirus software and cloud providers are just as important to a bank’s security as armed guards, security cameras and steel vaults.

Staying ahead of ATM skimmers

ATM security is like an ongoing race between the good guys and bad guys. As soon as the industry develops a technological advantage to defeat one method of ATM skimming, it seems criminals find another way to steal card data....

7 steps to minimizing data breach fallout, part 2

In my previous post, I shared four of the seven steps financial institutions can take to prepare for and respond to a data breach affecting their cardholders. Here are the remaining three: Core maintenance.

Is the US ATM industry making too big a fuss about EMV?

A UK commentator says it's time for the US to get with the program and get on with EMV migration.

Next wave of card fraud prevention solutions needed

Two separate studies into card fraud, published in recent weeks, highlight the same problem: Following several years of decline, card fraud levels are once again on the increase. The European Central Bank has just released its latest card fraud report,...

Data breach legislation: As states step up, will the Fed follow?

A data breach notification bill, H.B. 224, was recently introduced in the New Mexico legislature.

Report says Target knew about the data breach, but did nothing

The retailer had a working anti-malware system in place before the breach, but it was ignored.

3 irrefutable reasons why ISOs must up their game against fraud

Heartland, Target, Neiman Marcus; Congressional hearings, NRF vs. banks; liability shift deadlines, PCI, processing AIDs – it's enough to make your head spin.

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NEWS


PCI SSC issues bulletin on 'Backoff' malware threat

Though Backoff is known only to have infected POS systems, the program logs PINs from debit card transactions that can be paired with track data for use at ATMs.

UAE banks block debit cards in response to ATM compromise

After banks in the region experienced multimillion-dollar losses in a $45 million global bank heist that came to light last year, the UAE Central Bank is taking no chances.

Any idiot with a 3D printer can make a fake front for an ATM skimmer

However Hamid P, whom the police arrested this week in France for running a skimming operation, was no run-of-the-mill idiot.

What can 'Brown' do for data theft victims?

The UPS Store has notified customers of a potential data compromise occurring at 51 franchised locations between Jan. 20 and Aug. 11.

Kaspersky study finds consumers nonchalant about data security

When it comes to protecting their personal and financial information online, consumers just might be their own worst enemy.

Supervalu the latest brand to report data breach

The company doesn't specify that PIN numbers were stolen, but refers to 'other numerical information' in the announcement that its POS system was compromised.

Indictment of Russian for card data theft 'a serious warning to cybercriminals'

Among other crimes, Roman Valerevich Seleznev is charged with operating carding forums — websites where criminals gather to sell stolen credit card numbers.

Check fraud solution detects suspicious activity using cross-channel analytics

Detection capabilities are based on the solution's integration with core systems, check processing systems, and even ATM image archives.

New program assists acquirers, ISOs with data incident management

Conformance Technologies' Data Incident Management Program assists with forensics, equipment replacement, legal fees, and legal and consumer notifications.

Target takes a Q2 hit of $148M in costs from data breach

The figure includes estimated probable losses for what the company believes to be 'the vast majority of actual and potential breach-related claims,' including claims by payment card networks.

Kaspersky report shows growing threat from hacking attacks on FIs

Growing interest in 'big money' is reflected in a sharp rise in the number of banking Trojans over the last year. Most of these ultimately involve an ATM cash-out.

European card fraud reaches new highs

FICO's latest European card fraud map shows losses from 2006–2013 for 19 countries, and across five categories, including counterfeit fraud, stolen card, and ID theft.

Europol raid against skimming, cybercrime gang nets 65 suspects

The network took in an estimated $2.7 million from criminal operations that ranged from illegal financial transactions to drug trafficking.

Coming our way: A new kind of ATM skimmer

In the synopsis of its latest report, the European ATM Security Team referred to a "new mini skimmer" found in Europe for the first time. Although the device has only been reported by one country so far, it's just a...

Europol takes action against Shylock banking malware

The seizure of servers and domains used by the account-emptying Trojan left it substantially disabled, but not quite dead: It still poses a threat to customers of FIs in the UK, the US and other nations.

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