Pradeep Moudgal says the U.S. is migrating toward EMV. But how much new investment are card issuers going to have to make, and what steps does the collective industry need to take to ensure the transition from the mag-stripe to the chip is a smooth one?
Unfortunately, says Ken Vander Wal, most organizations have done little to address security in their policies and procedures regarding BYOD, which is changing the ways companies address user behavior and risk.
Mobile banking is a 'must-have' today, but the foray into this new financial-services arena comes with risk. Consistent review and implementation of security layers and controls is the only strategic way to tackle emerging mobile offers.
Security concerns are the top barrier between consumers and mobile banking. Yet, only 17 percent of institutions have integrated consumer education into their mobile strategies. Javelin's Mary Monahan offers three tips to improve awareness.
The payments system is broken, opening consumers, financial institutions and retailers to endless incidents of card fraud. So, what can be done? Gray Taylor has some suggestions.
Improving mobile device security is one of the top information security priorities for the coming year, according to our new Healthcare Information Security Today survey. And that's not surprising, given the recent surge of interest in tablets, smart phones and other mobile devices.
ATM skimming is a huge fraud concern for banks and credit unions. But M&T Bank says it has developed an effective anti-skimming solution - and it wants to share this product with other institutions.
In the near future, financial institutions will have new opportunities for service in emerging payments. How they define their roles, however, will depend greatly on steps they take now to put a stake in the ground.
On Tuesday, Bank of America caved in to competitive and public pressure, reversing its decision to impose a fee for consumer debit transactions. So, now where will institutions find new revenue to help fight fraud?
Online risks, card skimming and data leakage are the top threats to Asia Pacific and Indian banks, and financial institutions are just starting to implement security measures and regulations to combat the growing threat landscape, says Gartner's Matthew Cheung.
"It is clear that Internet technology represents the moment of a change equivalent to the change brought on by the printing press and the steam machine," says Kosta Peric of SWIFT.
Medtronic's announcement that it's launching an "in-depth risk/benefit analysis" following an "ethical hack" of one of its insulin pumps is good news. We hope that Medtronic and all other medical device manufacturers launch long-overdue, aggressive efforts to improve medical device safeguards.
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."
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