Tuesday , October 23, 2018

Fraud & Security

Banks Sue Trustwave, Target’s PCI Services Provider Before the Retailer’s Data Breach

Trustwave Holdings Inc., the leading provider of Payment Card Industry data-security standard (PCI) services to merchants, on Monday became the target of a lawsuit arising from the massive data breach at Target Corp. The suit, filed in U.S. District Court in Chicago by two banks, claims negligence on the part …

Read More »

Tokenization for E-Commerce Takes Key Step Forward with CardinalCommerce Patent

At a time when both banks and retailers are reeling from a rash of payment-data breaches, a technology company that has developed a system some believe could stop these breeches has announced that it has secured new patent protection for its technology. Mentor, Ohio-based CardinalCommerce Corp. said this week it …

Read More »

Smucker’s Hacked E-Commerce Site To Reopen Soon; Sally Beauty Confirms Breach

The J.M. Smucker Co.’s online store is expected to reopen next week, nearly a month after the jam-and-jelly producer closed it after discovering that hackers had broken into its computer system and stolen payment card data and other personal information on up to 23,000 customers. In other data-security news, beauty …

Read More »

Look Within Thyself for the Most Effective Fraud-Prevention Solutions, Some Merchants Say

The coming of Europay-MasterCard-Visa (EMV) chip cards to the U.S. has many American merchants worried about the inevitable shift of credit and debit card fraud from the point of sale to online channels. EMV cards, while highly effective in thwarting counterfeiting and related card-present fraud, offer no more fraud protection …

Read More »

With Calls for Change Mounting, Visa And MasterCard Launch Industry Security Group

In the wake of high-profile retailer data breaches and mounting political pressure to address security flaws in the nation’s payment card system, Visa Inc. and MasterCard Inc. on Friday said they were forming a “cross-industry group” to enhance payment security. The leading card networks said in a joint news release …

Read More »

Two More Data Breaches, But Little Concern by Small Businesses for Card Security

Given the massive news coverage about payment card security since December in the wake of Target Corp.’s huge data breach and other ones at Neiman Marcus Group and Michaels, you might think that data protection is top of mind among small-business owners. Not so, according to results of a new …

Read More »

Eye on Security: Issuer Response to Target Hack; A Rough Ride for Debit Cards in Chicago Cabs

A recent study by First Annapolis Consulting Inc. found that 22 of the nation’s 30 largest debit card issuers are actively replacing cards in the wake of retailer Target Corp.’s massive data breach. Meanwhile, a suburban Chicago bank warned customers not to use their debit cards in Chicago taxicabs and …

Read More »

PayPal Secures Spots on New Samsung Smart Phone And Smart Watch

  Consumers carrying around the next-generation Samsung Galaxy S5 smart phone will be able to use PayPal with a tap on the device’s biometric sensor. The smart phone, scheduled for release in April, will have a fingerprint sensor that enables consumers to use their online PayPal accounts to pay for …

Read More »

Mt. Gox Bitcoin Exchange Goes Dark, Leaving Bitcoin Owners With Questions

  Mt. Gox, a well-known Bitcoin exchange, has shut down, leaving investors who had Bitcoins at the digital-currency exchange wondering what’s next. Bitcoin is a decentralized digital-payment system based on mathematically derived new Bitcoins coming into circulation by so-called “miners” using computers. News service Reuters reports today that the exchange …

Read More »

Neiman Marcus Downsizes by Two-Thirds Its Tally of Cards Compromised in Breach

In a rare piece of good, or least not as bad, news about the recent retailer payment card data breaches, upscale department-store chain Neiman Marcus Group says about 350,000 cards were compromised by the breach it disclosed in January, down from its earlier estimate of 1.1 million. The number of …

Read More »