Banks that collectively own SWIFT saw their profits vanish last year as the organization increased its investments in information security, even as the interbank messaging service handled record volumes of money-moving messages.
Mobile is the new black - the way people work, shop and connect. Taking a cue from the payment point of view, this presentation from James Rendell, CA Technologies, VP Payment Security Strategy, will present best practices for securing mobile payments and how these practices are relevant across the enterprise.
Securing their channels, both digital and staffed, is key for a bank. But that often comes at the price of convenience for the bank's customer.
Applying the appropriate level of security at the appropriate time will be both convenient for the customer and secure for the bank, satisfying the needs of both. Download...
Mobile payments are more secure than online and card payments, says David Lott, a payments risk expert with the Retail Payments Risk Forum at the Federal Reserve Bank of Atlanta. But how customers use their mobile devices can dramatically affect transactional security.
New documents dumped online by the Shadow Brokers group have revealed apparent NSA programs designed to target SWIFT service bureaus in the Middle East as well as a slew of exploits designed to infect Windows systems, patched last month by Microsoft.
Risk analysis is at the core of most card fraud prevention platforms used today, says Carol Alexander of CA Technologies. But what if the industry could take the lessons it's learned to other channels, enabling banking institutions to more readily identify potentially fraudulent transactions before they happen?
The breach of an offshore account owned by Union Bank of India is raising new questions about the security of interbank payments, which often rely on antiquated backend verification processes that fraudsters seem to be compromising with relative ease.
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.
Organizations handling transactions involving credit or debit cards are facing increasing pressure to comply with the Payment Card Industry Data Security Standard (PCI DSS) version 3, which established various requirements for safeguarding an organization's relevant systems and networks, comprising the Cardholder Data...
As the U.S. completes its payments migration to the EMV chip, merchants and card issuers should be bracing for an uptick in card-not-present fraud, says Carol Alexander, head of payment security at software provider CA Technologies.