Fraud & Security

Efforts to get EMV chip cards into the wallets of U.S. consumers may be paying off. Some 52% of cards presented to merchants in the weeks following the Oct. 1 liability shift bear a chip, says CardFlight Inc., a mobile point-of-sale provider, in the debut of its EMV Migration Tracker. …

Newly launched Tender Armor hopes its CvvPlus product can help issuers, merchants, and consumers combat the risk from fraudulent card-not-present transactions, the company announced Wednesday. The Fort Lauderdale, Fla.-based company says CvvPlus can help stem online fraud by providing a daily card verification code that is not printed on a …

The U.S. House of Representatives’ Financial Services Committee on Tuesday afternoon was scheduled to consider a data-security bill that is drawing fire from merchant trade groups and consumer advocates, but which has the support of the American Bankers Association. H.R. 2205, the Data Security Act of 2015, was introduced last …

Attorneys for financial-institution plaintiffs suing Target Corp. to recoup their costs arising from Target’s massive 2013 data breach announced a $39.4 million settlement on Wednesday intended to bring their class-action lawsuit against the big-box retailer to an end. A U.S. District Court judge in St. Paul, Minn., was expected to …

Just like law-abiding consumers, criminals hope to score good deals during the holiday shopping season. And luxury items and business services, such as hosting plans and search engine optimization, top their lists, finds an analysis by Forter, a San Francisco-based fraud-prevention specialist. In a report released on Monday, Forter analyzed …

New findings about the public’s attitudes toward EMV chip cards and their disruptive potential show consumers appreciate the improved security over magnetic-stripe card payments. Still, many consumers are bothered by the new transaction processes, enough so that some will avoid stores where they know they have to insert a chip …

Backers of ScramCard, a new universal card that offers consumers the ability to load multiple credit and debit cards onto one card, hope messages touting its potential security and fraud-mitigation benefits will reach welcoming ears. Like other universal cards, ScramCard enables consumers to load their payment card details onto the …

Fears about fraud losses from duplicate check deposits have plagued mobile remote deposit capture since its inception. Finding data to confirm or debunk those fears, however, has been tough, at least until now. It seems that mRDC fraud is pretty low, according to results of an April-May survey that Alpharetta, …

Veterans of the e-commerce, risk-control and payment card industries all have been predicting that fraudsters will turn their attention to card-not-present channels as the U.S. shifts to EMV chip card payments and thus makes counterfeiting at the point of sale harder to commit. Now a new study by ACI Worldwide …

With nearly half of all holiday shopping expected to be conducted online, attention is turning to the first line of defense against fraud: the humble password. As it turns out, this bulwark isn’t nearly as strong as it could be, according to a study released Tuesday by Dashlane Inc., a …