A card compromise at a California-based grocery chain has raised questions about the efficacy of PCI-DSS. Experts say even if merchants are compliant, fraudsters can easily get around the security measures.
ATM skimming busts are wins for law enforcement. But how well would banking institutions detect the fraud if their customers weren't doing such good jobs of reporting these incidents?
The only way to improve card security is for banks and merchants to align their strategies, says Gray Taylor of NACS. "This is something that hurts both of our industries. Fraud hurts us all."
Links between card-skimming attacks and ID theft are getting notice from U.S. federal prosecutors. But are the sentences being passed down from the courts strong enough to deter fraudsters?
When a database breach occurs, consumer notification continues to be a public problem, and it's time for the federal government to step in, says Linda Foley, co-founder of the non-profit Identity Theft Resource Center.
"Many institutions only know about fraud when they get notified by the customer, and that is not indicative of an industry that is really trying to address the problem." George Tubin, TowerGroup
The U.S. reliance on the magnetic stripe is having global consequences. European countries that have made the shift EMV say they are suffering from higher-than-ever incidents of ATM skimming because of the lingering mag stripe.
Interview with Allan Bachman of the Association of Certified Fraud Examiners
The magnitude of fraud schemes has grown - the scale and the losses. But the basics of fraud investigation remain sound. And if there's one thing people should know up front, says Allan Bachman of the Association of Certified Fraud...
Ghosts of Crimes Past and Present Will Haunt the Future of Banking Institutions and Customers
"The more things change, the more things stay the same." This old saying holds true when it comes to the different types of fraud hitting financial institutions.
In 2009, institutions were hit from every angle with...
Government and business must think creatively to help safeguard America's digital assets, says Melissa Hathaway, the former White House acting senior director for cybersecurity who led President Obama's 60-day cybersecurity policy review.
Hathaway, an interview with GovInfoSecurity.com, cited the innovative...
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