Data Security & Fraud Prevention

Latest Headlines

Latest Headlines

MasterCard's $20 million cybersecurity investment includes monitoring, biometrics

MasterCard is planning to spend $20 million on cybersecurity initiatives that will include a bank safety layer and a biometrics pilot program. The credit card company plans to debut both announced initiatives this year.

Cyberthreat information sharing gets big backing from Facebook

The concept of sharing cyberthreat information got a boost this week from one of the biggest names in social networking: Facebook. The company's new ThreatExchange platform is reportedly based upon a system the social networking site was using internally to catalog threats to its network in real time.

More than half of retailers surveyed may not be ready for EMV chip card deadline

Much of the retail industry may face significant challenges in meeting the EMV deadlines for complying with chip card technology, according to a recent survey from payments company ACI Worldwide....

Pentagon-level IT security lessons for the financial industry

When government budgets were trimmed in recent years, many governmental departments took a new approach to IT security.  

The year of the breach

A year marked by headline grabbing cyberattacks ranging from Target's credit card breach to a hack at JPMorgan ended with an attack that may have trumped the rest in headline-grabbing ability. While not directly affecting finance or payments, the malicious attack on Sony Pictures must have scared executives of financial firms and all other firms by the havoc it wreaked on its target and the precision with which it used cybercrime to inflict maximum financial and reputational damage.

With EMV chip cards, stronger security may lead to more creative hacks

We are closing a year with some of the largest hacks of credit card data yet seen in the U.S., and preparing for a new year when the move to more secure EMV chip card technology will become mandatory. But card security experts warn that where tighter security may close some doors to fraudsters, they will look for new ones to open.

Sifma asks congress to pass Cybersecurity Information Sharing Act

The Securities Industry Financial Markets Association (SIFMA) called for passage of the Cybersecurity Information Sharing Act in testimony to the Senate Banking, Housing and Urban Development...

Sifma raises cost and security concerns over Finra's CARDS project

The Securities Industry and Financial Markets Association says the Financial Industry Regulatory Authority's proposed "CARDS" program will impose high costs on the industry and open up new cyber security risks. In a comment letter sent to Finra this week, Sifma said its concerns are supported by two separate studies the industry trade group commissioned.

Market observers question impact of 'unprecedented' FX fines

A total of $4.3 billion in fines were levied on six banks by four regulators this week as part of the much anticipated settlement of the FX manipulation scandal. The fines, from the U.K.'s...

Firms boost legal reserves as FX investigations heat up

The Commodity Futures Trading Commission is expected to announce fines in the alleged rigging of the $5.3 trillion-a-day currency markets any day now, according to published reports. The CFTC may levy fines of around $300 million against each firm it is investigating, according to anonymous sources cited by  Bloomberg.