Seven people have been accused by Michigan authorities of pulling off a unique account takeover scheme that targeted Bank of America and involved nearly $360,000 in fraudulent funds transfers.
Banks and the U.S. payments infrastructure are prime targets for international cyberattacks. And it's not just money hackers are after, says Bill Wansley of Booz Allen Hamilton. What else is at risk?
In the wake of recent merchant breaches, a new PCI training program aims to enhance point-of-sale security. Which payment card risks does this program address? PCI Council chair Bob Russo explains.
Jenny Durkan, the U.S. Attorney for the Western District of Washington, is taking a lead role in combatting cyberfraud. Under her leadership, federal prosecutors have upped their efforts to combat ever-increasing threats posed by digital crimes, including card fraud.
U.S. banks are well-aware of the fraud vulnerabilities magnetic-stripe cards pose, yet few have made moves toward chip technology. The time for stalling is over.
Heartland Payment Systems, which suffered a massive breach in 2009, is working to enhance POS security at the merchant level. What steps is this processor taking, and what role would it like to see card-issuing banks play?
Where are banks and credit unions making their biggest investments to fight fraud? See what banking executives and others have to say about emerging trends.
The definition of reasonable security changes over time. And that's something the courts must consider when reviewing legal disputes over fraud liability.
Banking institutions are making technology strides to fight fraud. But how will emerging channels and services, such as mobile payments, impact these investments?
Two men have been sentenced for defrauding accountholders whose debit cards were compromised in the Michaels point-of-sale breach that hit stores in 20 states. What was their role in an elaborate fraud scheme affecting nearly 100,000 accounts?
Global Payments Inc. says its data breach investigation is complete, and so far the incident has cost the company $84.4 million. What's next for the payments processor as it recovers from this breach?
Security personnel should be required to prove not only that they know how to do things right, but also that they know how to do the right thing. They must demonstrate commitment to ethical behavior.
In the latest update, much was left unsaid about the Global Payments data breach. And if I were a Global customer or card-issuing entity, I'd have some serious follow-up questions.
A small point-of-sale attack in Kentucky points to a larger fraud trend impacting banks and customers. What are "micro attacks," and how can institutions help prevent and detect them?
Global Payments this week plans to provide updates about the systems breach that it discovered in March. Learn about the details, including the potential financial impact, that the processor plans to share.
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