Summit Credit Union of Wisconsin is seeking class-action status for a lawsuit against credit bureau Equifax. The credit union contends it will have to bear the fraud costs resulting from Equifax exposing a massive amount of U.S. consumer data in one of the worst data breaches ever seen.
In an increasingly digital world, where players from virtually all sectors are racing to innovate, the risk of data theft is very real. The payment card industry has defined standards for protecting cardholder account data. But what about other data types? And what can be learned from payment card industry standards?...
We all know how fragile our digital identities are, and any business offering digital accounts knows about the risks of account takeover attacks. As more and more businesses undertake digital transformation strategies, account takeover becomes an increasingly lucrative attack option for fraudsters. With strategies...
There are many faces of fraud in the insurance market - using stolen identities to obtain a new policy - or just as troubling, an account takeover to make a false claim or change payee information to receive claim funds. And when fraud hits, it hurts everyone in the pool.
At the same time, the insurance industry...
Verizon has made a strong case for continual PCI DSS awareness with its new study of payment card data security. But like many vendors that conduct their own studies supporting their business cases, Verizon makes suspect logical stretches.
In this session, a security technologist discusses and reviews the anatomy of a breach, including the effects a breach has in real and soft money. He also reviews attacker motivations and how threat intelligence can correlate activities to help highlight indicators of compromise and analyze and mitigate the damages of...
The Canadian payment card industry has experienced first-hand the impact of chip and PIN deployment, and how fraudsters have responded. During this session, Gord Jamieson, head of risk services for Visa Canada, will explain why security must be a 24/7 concern, how security is moving at the speed of innovation, and...
As the global threat landscape shifts, so does Kaspersky Lab. Moving from its traditional cybersecurity focus, Kaspersky now is honing in on fraud prevention. Emma Mohan-Satta describes this shift and what it means for security and anti-fraud leaders.
Trump Hotels is warning customers that payment card data at 14 of its properties was compromised during a seven-month breach that affected service-provider Sabre. Other affected chains include Hard Rock Hotel & Casino and Loews Hotels.
Russian-born Alexander Tverdokhlebov has been sentenced to serve nine years in U.S. prison after pleading guilty to causing damages of between $9.5 million and $25 million by running botnets, using malware to steal payment card data, selling "dumps" of that data as well as hiring money mules.
Clothing retailer Buckle says malware installed on its point-of-sale systems apparently stole customers' payment card details for nearly six months. Buckle's warning, which follows a breach alert from Kmart, shows the fight against payment card fraud is far from over.
Following NACHA's new rule for same-day ACH transactions, businesses and consumers are now able to benefit from same-day transaction processing, providing quicker access to payroll, account transactions and more. While beneficial for businesses and consumers, same-day ACH has necessitated that financial institutions...
With payments innovations picking up speed and the push toward faster payments in the U.S., the modernization of payment methods has changed and will continue to change the type of fraud perpetrated against bank deposit accounts. These accounts hold the funds used to make payments by consumers and businesses. This...
Retailers and financial institutions are dealing with the changing face of customer interactions. For many businesses, mobile logins have surpassed online logins, and consumers are voicing their demands for more mobile services. Consumers expect to bank, pay, buy, transfer and more via their mobile devices - and they...
With the rise of digital banking, a transformation is taking place with financial institutions offering new, more convenient digital channels and services. This digital transformation is changing how customers interact with banks. Gone are the days of supporting simple online conveniences, many customers are seeking...
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