CUInfoSecurity.com Week in Review for Friday, Jan. 14, 2011
- The Rise of Mobile P2P. Cincinnati-based Fifth Third Bank announced plans this week to launch CashEdge's Popmoney remittance service. The peer-to-peer payment platform, which is available through mobile and online banking channels, offers banks and credit unions a way to compete in a market that's seeing increased competition from non-traditional sources;
- Internal Fraud Losses Higher Than Reported. Internal fraud is one of the banking industry's most threatening types of fraud. In fact, industry experts rank it as one of the top 9 security threats banks and credit unions will face in 2011. A new report from Aite Group supports that ranking, finding that internal fraud at most banks and credit unions is underreported, if detected at all;
- The History of EMV Philip Andreae is a payments expert who's seen his fair share of changes, not just in the U.S. but also in Europe. In fact, Andreae says he plan to see the EMV, Europay, MasterCard, Visa standard, become a global standard that's embraced throughout the world.