Achieving international acceptance of PCI-DSS is an ongoing challenge, says Jeremy King, international director of the PCI Security Standards Council, who's working to educate merchants about baseline security that goes far beyond cardholder data protection.
While PCI compliance is a priority for many U.S. retailers, some major companies in Australia say they'd rather forego the cost of compliance and risk the possibility of steep fines if a card breach occurs.
Reacting to strong complaints from retailers, three major card brands have finally taken steps toward reducing the amount of counterfeit fraud chargebacks to U.S. merchants, which began as a result of the EMV fraud liability shift last October. But was the action by the brands bold enough?
In this edition of the ISMG Security Report, you'll hear our editors explore how hackers use Java script for ransomware, the latest digital currency security issue and privacy threats posed by virtual reality.
Apple is building "differential privacy" into iOS 10 to try and block attempts to identify or track individual users based on their behavior, keyword searches or other activities. But will the functionality perform as advertised?
In an interview, Doug Johnson of the American Bankers Association explains why the ABA rejects the Retail Industry Leaders Association's contention that a legislative proposal to hold retailers to the same cybersecurity standards as banks is unfair.
As we prepare to mark the tenth anniversary of the PCI Security Standards Council, it's time to assess the impact PCI-DSS has had on payments security and consider whether it will remain a viable standard 10 years from now. A series of upcoming reports will address these topics.
The Retail Industry Leaders Association is battling against passage of a national data security and breach notification bill known as the Data Security Act of 2015, arguing it would unreasonably require retailers to meet some of the same security standards as banks, says Austen Jensen, a RILA vice president.
Now that both the FBI and the FFIEC have issued alerts calling attention to the risks associated with interbank messaging and wholesale payments in the wake of SWIFT-related heists, U.S. institutions should brace for more regulatory scrutiny of bank-to-bank payments, financial fraud experts say.
Asking how many different technologies consumers will tolerate when it comes to paying for their goods and services is a bit like asking how many more superheroes moviegoers will countenance in the latest "Avengers" film.
Is SWIFT now playing good cop/bad cop? While it initially promised to not police the financial services industry, it's now considering training auditors and suspending banks found to have poor information security practices.
Since the theft of $81 million from the central bank of Bangladesh came to light in February, investigators have continued to probe similar SWIFT-related attacks against four other financial services firms, dating back to at least 2013.
Before moving to faster payments, U.S. banks should scrutinize the security gaps exploited in the SWIFT-related bank heists and build effective risk-mitigation strategies that include stronger layers of authentication, financial fraud experts say.
A Bangladesh probe says that an insider may have assisted attackers in perpetrating the $81 million cyber heist against Bangladesh Bank. SWIFT has unveiled new security measures to help other banks, but security experts say more will be needed.