New exploits linked to Apple Pay aren't compromising the mobile device's security, but instead are taking advantage of lax authentication practices used by banking institutions to verify cards that are loaded to the iPhone for Apple Pay purchases.
Despite commitments by leading payment card brands to enhance security, some critics say the White House cybersecurity summit produced no specifics for how the public and private sectors will curb cyber-fraud.
The White House Summit on Cybersecurity and Consumer Protection late last week served as the stage for more than a dozen companies and trade groups to announce new initiatives aimed at securing Internet transactions and payments and reducing fraud.
PINS can effectively reduce card-not-present as well as card-present fraud, argues Liz Garner of the Merchant Advisory Group, who will be a featured speaker at Information Security Media Group's upcoming Fraud Summit Los Angeles.
Visa executive Kimberly Lawrence contends that the ongoing U.S. migration to EMV is progressing more rapidly than in other markets that have made the transition, requiring outside-the-box rules for debit transactions and cardholder verification.
As a result of President Obama's "Buy Secure" initiative, the federal government this month is kicking off its chip-and-PIN rollout. Fraud experts now debate what impact the move will have on banks' EMV chip-card strategies.
In the aftermath of a payment card breach, as fraudsters race to exploit the stolen information, card issuers and affected customers take steps to mitigate risks. Here's a look at the lifecycle of a payment card breach from three perspectives.
The U.S. likely won't complete its implementation of EMV for many years to come, despite the October 2015 liability shift date for counterfeit card fraud, many forecasters say. And until it's fully deployed, EMV will have little impact on fraud.
The globalization of fraud waged by organized crime has spurred new cross-channel attacks and is affecting how ATM operators approach data security, executives from three of the world's leading ATM manufacturers explain in this exclusive interview.
The U.S. migration from magnetic-stripe payment cards to EMV-compliant cards is in full swing, thanks in part to massive breaches at retailers. This infographic offers a timeline of progress in implementing this new technology.
How will EMV and contactless payments reduce ATM-related card fraud? In part one of this three-part exclusive interview, executives from the world's top three ATM manufacturers discuss how they're helping banking institutions address emerging fraud trends.