Fraud & Security

Card-not-present fraud is growing as EMV chip cards make it harder for fraudsters to use counterfeit credit and debit cards at the point of sale, but perceptions about the reasons for the increase may need some clarification, according to the U.S. Payments Forum. “Some of the reports of large rises …

With a forecast of 15 billion new devices as part of the Internet of Things potentially coming online as payments devices by 2021, securing these devices, whether they are cars, wearables, or appliances, is emerging as a top concern. “We are seeing a huge increase in inadequately protected devices,” Graeme …

Merchants and card issuers have been hearing for several years that the advent of EMV chip cards at the point of sale in the United States would drive fraud into card-not-present channels, and now evidence is emerging that this is happening with a vengeance, even with companies like airlines that …

Data breaches are in the news constantly, but they appear to have no long-term effect on consumers’ use of payment methods. Breaches might, however, spur some consumers to switch hospitals, according to researchers. “Payment attitudes and payment behaviors are very, very sticky,” says Claire Greene, a payments analyst at the …

About 60% of the nation’s approximately 450,000 ATMs can now accept EMV chip cards, according to industry executives familiar with the years-long process of transitioning from magnetic-stripe cards. “We look at true chip transactions that are coming from terminals,” says Bruce Owens, vice president of product for the North American …

In the run up to full implementation of 3-D Secure 2.0, a payment standard that aims to curb online fraud and prevent blocking legitimate transactions, merchants and issuers alike will need some convincing the technology will not impede e-commerce and mobile commerce. That’s the word from Tim M. Sherwin, chief …

After years of card-data breaches and other bad news, four very encouraging trends are emerging that bode well for better security. Here’s a quick look at all four: Integrators are taking the QIR program seriously. When the PCI Security Standards Council and Visa Inc. initially released the Qualified Integrator and …

Nearly three-fourths of corporate treasury and finance executives say their organizations were hit by actual or attempted payment fraud in 2016, with check, automated clearing house debit, and email fraud attempts all rising, according to the Association for Financial Professionals’ ninth annual payments fraud survey. Some 74% of respondents said …

The bad news about payments risk just keeps on coming. The Anti-Phishing Working Group Inc. reported last month that phishing attacks reached an all-time high in 2016, totaling 1,220,523. That was up fully 65% over 2015, the group says in its latest quarterly report. Another way to look at the …

With a forecast of 15 billion new devices as part of the Internet of Things potentially coming online as payments devices by 2021, securing these devices, whether they are cars, wearables, or appliances, is emerging as a top concern. “We are seeing a huge increase in inadequately protected devices,” Graeme …