A former customer service representative at Blue Cross Blue Shield of Michigan is among 11 individuals recently arrested in connection with an alleged identity theft scheme that resulted in hundreds of thousands of dollars in credit fraud.
A banking regulator's comments about the need for retailers to bear responsibility for card breaches are outdated. Merchants aren't to blame for our broken payments system. Rather than point fingers, regulators need to offer stronger leadership.
Apple has unveiled its long-awaited Apple Watch, which the company will begin shipping in nine countries on April 24. Security experts highlight the use of Bluetooth and Wi-Fi as potential security concerns and discuss other security-related issues.
Mandarin Oriental Hotel Group and Natural Grocers are two of the latest merchants to confirm breaches of their point-of-sale systems. Security experts analyze the impact these breaches are likely to have on issuers and cardholders.
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.