Thursday , February 6, 2025

Fraud & Security

Target Says Little Fraud And No Apparent PIN Theft Resulting From Data Breach So Far

In the wake of the huge payment card data breach it confirmed Thursday, big-box retailer Target Corp. today said that so far it has received few reports of fraud resulting from the breach. The retailer also said that while hackers obtained considerable customer data on approximately 40 million credit and …

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Payment Card Data Hackers Put Big-Box Retailer Target in Their Cross-Hairs

It had been fairly quiet on the retailer data-breach front for quite some time until Wednesday, when news broke that Target Corp. had suffered what apparently was a major breach of magnetic-stripe data from payment cards. Target confirmed Thursday that the breach potentially compromised 40 million credit and debit accounts, …

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Rising with Holiday Shopping, Chargebacks Are on the Naughty List for Most Merchants

Chargebacks may not be lumps of coal, but many merchants may consider them as such this holiday season. n Chargebacks are the process by which cardholders contest charges they didn’t make or don’t recognize when they receive their statement. A chargeback filing typically requires a merchant to dig up supporting …

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Interchange Relief And Other Carrots Needed To Spur U.S. EMV Conversion, Analyst Says

Europay-MasterCard-Visa (EMV) chip cards will come to the U.S., but probably not before the payment card networks postpone current deadlines and offer strong incentives for merchants that might include interchange relief and dumping the signature as a cardholder- verification method, according to a new research report from Celent LLC. Card …

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Survey Revealing Undisclosed Intrusions Indicates Data Breaches Are Under-Reported

The actual number of data breaches taking place in the United States may be much higher than generally understood, if a recent survey of corporate security professionals is any indication. The canvass of some 200 so-called malware analysts working for large and small enterprises revealed that fully 57% have dealt …

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Despite Signs of Progress, Small Merchants Still Lag on Risk Assessment And PCI

Coming on the heels of the release last week by the PCI Security Standards Council of a revised Payment Card Industry data-security standard (PCI) is a report Tuesday that shows how much progress small merchants are making in locking down card data—and how painfully slow much of that progress has …

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NACHA Proposals for Reducing Exceptions Include New Fines for Sloppy and Risky Originators

In an effort to reduce the volume of returned transactions and motivate banks to crack down on originators of incorrect or risky automated clearing house payments, ACH network governing body NACHA today proposed two new rules to improve transaction quality. One would set new fines that the network could assess …

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The PCI Council Unveils Its ‘User-Friendly’ Version 3.0 of the PCI Security Rules

Better management of passwords and prevention of point-of-sale terminal tampering are just two features of the new Version 3.0 of the Payment Card Industry data-security standard that the PCI Security Standards Council unveiled Thursday. On its surface, Version 3.0 looks much the same as the previous edition, 2.0, which the …

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As April Deadline Looms, ATM Experts Fret About Upgrade from Windows XP

Will the world end for ATM owners on April 8? Not likely, but it could become less secure. That is the day Microsoft Corp. ends all support—including security updates—for Windows XP, a common operating system not only for PCs but also for ATMs. That has the ATM industry pondering a …

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Network Divide Over EMV Comes to the Fore as Rumors About a Liability-Shift Delay Surface

By Jim Daly The deep divide within debit networks about bringing Europay-MasterCard-Visa (EMV) chip cards to the United States was on full display Monday at a conference in which a Visa Inc. executive hinted that Visa might be open to a delay in a major EMV deadline. But an executive …

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