Despite increased incidents, major U.S. card issuers receive poor marks for card fraud prevention, according to a new study from Javelin Strategy & Research. The biggest area of concern: card-not-present fraud.
Major U.S. card issuers continue to get poor marks when it comes to steps they take to prevent card fraud. In fact, according to research released by Javelin Strategy & Research, prevention measures for the last three consecutive years have continually declined, despite exponential increases in fraud.
"I think we'll see some additional investments in fraud prevention tools as a result, and it could be EMV tokens or neural networks," says Jim Schlegel of ACI Worldwide, following the Fed's move on debit interchange fees.
Eddie Schwartz, the new - and first - chief security officer of RSA, says the IT security provider hit by a sophisticated advanced-persistent-threat attack in March is focusing internal security on efforts to reduce the time an intruder can go undetected.
The controversial Accounting of Disclosures Rule is the subject of intense debate. Don't miss your opportunity to make your opinions known to federal authorities.
Jeff Kopchik of the FDIC says too much emphasis on what's "missing" from the FFIEC's new guidance detracts from regulators' intent: providing financial institutions with a guideline for securing online transactions.
We all know, as a result of recent breaches, Sony is in the market for a security leader. I reached out to some hiring managers and asked them: What would you look for in Sony's first CISO?
"We appear to be asking DHS to take on new cybersecurity roles and missions while it is establishing its basic core competencies," Melissa Hathaway says. "Is this reasonable? Do we want DHS to become a first party regulator?"
Building on existing contactless NFC technology could bridge the gap between the mag-stripe and chip and PIN. And the Smart Card Alliance says merchants should begin investing in infrastructure upgrades now.
Security experts at this week's Gartner Security and Risk Management Summit agree: Security, not compliance, has to be the new focus. Cyberintrusions cannot be stopped, and the RSA breach should be a lesson to the industry.
Information Security Media Group announces the launch of FFIEC Authentication Guidance, a resource center dedicated to providing in-depth news and views on the pending online authentication guidance.
"Eddie also will contribute to product strategy, marketing and technical evangelism for RSA," an RSA spokeswoman says. "This role will leverage Eddie's 20-plus years of security expertise."
Breaches will not slow anytime soon, and there's not much financial institutions and the payments chain can do to stop them. At this point, the best course of action for banks and retailers is to focus on damage control.
Some organizations hesitate to involve law enforcement in their breach investigations for fear that exposing the hack would cost them their reputations and money. A Justice Department contingent tells a gathering of lawyers why that impression is wrong.
Our website uses cookies. Cookies enable us to provide the best experience possible and help us understand how visitors use our website. By browsing inforisktoday.com, you agree to our use of cookies.