Fraud & Security

[Image Credit: Any IP Ltd.] With malicious bots bombarding the Web, tech vendors are adding services to shield banks, retailers, and other firms with data behind login pages from the onslaught. The newest is Cequence ASP from Cequence Security, which the Silicon Valley firm says detects and ends attacks through …

Fallback fraud, an offshoot of the counterfeit fraud that EMV chip cards are meant to reduce, declined over the past year, according to new findings from Auriemma Consulting Group. Fallback fraud refers to fraud resulting from would-be EMV payments resorting to the credit or debit card’s back-up magnetic stripe because …

Shares of wire-transfer provider MoneyGram International Inc. tumbled 29% Friday morning after the company reported declining revenues and a $125 million settlement with the federal government over lax fraud controls at some agent locations. The settlement involves “allegations that the company failed to take steps required under a 2009 Federal …

A survey of 1,000 U.S. adults found 73% will shop at a store for gifts this holiday season, but 13% will also use a virtual assistant, such as Siri or Alexa. Some 57% will use a computer and 42% a mobile device, according to the poll, conducted by merchant processor …

Three years after the EMV liability shift, fallback fraud, which bypasses protections against counterfeit card use, remains a problem for the U.S. payments industry, Auriemma Consulting Group said. Its data found that fallback fraud, which typically is a problem when markets first adopt EMV, still makes up more than 20% of …

Cardtronics plc said it is the exclusive ATM provider to 121 RaceTrac convenience stores in the Dallas-Fort Worth area. The ATMs bear the Credit Union of Texas brand. Worldpay Inc. announced a multiyear agreement to be the exclusive provider to the National Association of Convenience Stores Payment Processing Program, which …

Software developer ASG Technologies Group Inc., a portfolio company of the hedge fund Elliott Management Corp., on Wednesday announced a $425 million offer to buy Mitek Systems Inc., a leader in the mobile remote deposit capture software market that also provides identity-verification and related applications. San Diego-based Mitek issued no …

By 2023, in-car commerce will total $265 billion annually on more than 8.2 billion transactions from 775 million consumer vehicles, according to projections from Juniper Research. American Express Co. announced a slate of programs for its ninth annual Small Business Saturday, set for Nov. 24. Mastercard Inc. said it will work with …

Mastercard Inc. president and chief executive Ajay Banga says he’s “very, very optimistic” about the Secure Remote Commerce initiative to reduce clutter on online checkout pages. Banga’s comments came Tuesday morning as he reviewed Mastercard’s results for the third quarter, a period in which U.S. purchase volume rose 10.7% year-over-year …

Merchants should expect even more consumers to shop online this holiday shopping season. They also should expect even more fraud attempts. New research from Riskified, an Israel-based data-security provider, and cybersecurity firm IntSights finds that the number of false retailer Web sites meant to get consumers to give up their …