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Despite a seemingly non-stop parade of headlines about data breaches last year, the number of credit and debit card records compromised actually fell, according to new figures from the Identity Theft Resource Center. The ITRC says it identified 111 data breaches that exposed 3.38 million records in 2011. n In …
Read More »An FTC Settlement Highlights Regulators’ Concerns with Third-Party Risk
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Read More »Acquirers, Small Merchants See More Risk-Reduction Value in PCI, Survey Shows
The 7-year-old Payment Card Industry data-security standard (PCI) is proving its effectiveness in preventing data breaches among small merchants, according to a survey of payments-industry acquirers set to be released next week. The survey, cosponsored by ControlScan Inc., an Alpharetta, Ga.-based vendor of PCI-compliance solutions, and the Merchant Acquirers’ Committee, …
Read More »Study Shows Merchants Still Store Massive Amounts of Unprotected Card Data
n Of 2,736 scans worldwide since Jan. 1 using SecurityMetrics Inc.’s PANscan tool, 71% revealed merchant computer systems were storing unencrypted payment card data, an 8% increase from a similar survey in 2010, according to the Salt Lake City, Utah-based provider of PCI security solutions. The participating merchants ranged in …
Read More »VeriFone Boss Says He Aims for Services to Account for Half of Revenue Within Four Years
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Read More »Using Malware And Skimmers, Fraudsters Harvest Card Data at Restaurant Depot, Lucky
The data-breach Grinch is stealing Christmas from a big restaurant supplier and Lucky Supermarkets, a major West Coast grocery chain, both of whose payment card acceptance systems were compromised recently by fraudsters using different techniques. The breach at Queens, N.Y.-based Restaurant Depot LLC, which also does business under the …
Read More »Security Worries Arise As Mobile Payments Begin Their Ascent
The promise of mobile devices to generate new payment transactions and better service for bank customers comes with a big potential downside. Risk-control executives strongly believe fraudsters have their eyes on smart phones and related mobile devices, according to new research from Aite Group LLC. Asked if “mobile fraud is …
Read More »MasterCard And Intel Look for Near-Term Results from E-Commerce Deal
The alliance MasterCard Inc. announced earlier this week with Intel Corp. to secure e-commerce transactions will not supersede SecureCode, a MasterCard online authentication system, but will fairly soon lead to a new type of contactless-payment device from an emerging category of ultra-thin, fast-start PCs, executives with both companies tell Digital …
Read More »Star Agrees To Offer Online PIN Debit Service from CardinalCommerce
The Star EFT network, which has been working for several years on ways to enable cardholders to conduct PIN-debit transactions with online merchants, said on Thursday it will offer a service from CardinalCommerce Corp. that promises to allow issuers to choose how to authenticate users of PIN-debit cards in …
Read More »Awareness of PCI Remains “Shockingly Low” Among Small Merchants, Study Finds
Small merchants are not much more aware of—let alone compliant with—the Payment Card Industry data-security standard (PCI) than they were a year ago, according to a study released this week. Some 53% of small merchants are now at least aware of PCI, a small increase from the 47% a similar …
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