Seon

JUNE 15, 2023

Business email compromise (BEC) attacks can be a major risk to businesses’ finances and reputations. Let’s look at what business email compromise attacks are and explore some of the many ways you can combat them. What Is a Business Email Compromise Attack? Reported losses in 2020 exceeded $4.2

Email Compromise 52

Email Compromise Compromise Business Email Compromise Risk 52

VISTA InfoSec

OCTOBER 21, 2024

This is chiefly due to the fact that quantum computers will be able to hack through current common encryption algorithms like RSA, ECDSA, and ECDH. As it stands, there’s already a potential fix in the form of cloud-based quantum-proof encryption, which is expected to be a larger focus in the coming years.

Cybersecurity 130

Cybersecurity Encryption Scams Cryptocurrency 130

Stax

MARCH 4, 2024

It’s also critical to ensure card information is protected from data breaches with secure encryption and cybersecurity standards in place. NFC payments, including digital wallets, are very secure, relying on encryption to mask the card number, further protecting cardholder information. What is SSL/TLS?

PCI DSS 88

PCI DSS Payment Security Security MFA 88

VISTA InfoSec

APRIL 3, 2024

Whether it’s falling prey to sophisticated phishing schemes or mishandling sensitive information, the actions of untrained or uninformed staff can compromise an entire organization’s security. Encryption is a vital safeguard that transforms data into a format that is unintelligible without the corresponding decryption key.

Cybersecurity 130

Cybersecurity Encryption Breach Phishing 130

VISTA InfoSec

JANUARY 22, 2024

This is achieved through a multi-pronged approach: Data Encryption: Requirement 3 mandates the use of strong cryptographic controls such as encryption for stored cardholder data. Key Management: Requirement 3 also covers the secure management of cryptographic keys used for encryption of cardholder data. PCI DSS v3.2.1

PCI DSS 100

PCI DSS Encryption Procedures Authorization 100

Exact Payments

JULY 1, 2024

Our software partners transmit merchant data to our APIs using Transport Layer Security (TLS) encryption. TLS encrypts data during transit and offers enhanced security features to combat man-in-the-middle (MiTM) attacks. Forward secrecy protects past communications against future compromises of secret keys or passwords.

Data Security 52

Data Security Security Encryption Payment APIs and Integration 52

Basis Theory

OCTOBER 1, 2024

Whether that is collecting credit card numbers to transmit with a payment gateway, placing details into a shared customer relationship management system, or storing card numbers in an encrypted database—all of this sensitive information must be protected according to the specifics of the PCI-DSS standard.

PCI DSS 88

PCI DSS Compliance Encryption Assessments 88

VISTA InfoSec

JANUARY 18, 2024

This includes, but is not limited to, default wireless encryption keys, passwords, and SNMP community strings. This includes, but is not limited to: -> Default wireless encryption keys. -> Passwords on wireless access points. -> SNMP defaults. -> Any other security-related wireless vendor defaults.

PCI DSS 289

PCI DSS Procedures Encryption Security 289

PYMNTS

MARCH 24, 2016

“Encryption is one of the best ways to protect data. With respect to payments specifically, where the encryption of payment information is a vastly different issue than the encryption of communication channels, the balance of having both security and privacy may be more achievable. Department of Justice has demonstrated.

Encryption 41

Encryption Compromise Privacy Credential 41

The Fintech Times

SEPTEMBER 5, 2024

The excessive concentration of executive control and the rigidity of their processes can lead to single points of failure that, when compromised, can bring the entire payment process to a halt. So what do we mean by ‘process rigidity’?

Financial Crimes 62

Financial Crimes Mitigation Cybersecurity Crime 62

PYMNTS

MARCH 6, 2020

Oversight And Authentication. Companies that offer APIs must have authentication measures in place — such as those requiring legitimate users’ to present credentials, or “API keys” — before granting access to them. . This month’s Deep Dive examines how APIs can be exploited and how companies can combat attacks. .

API 52

API Authentication Security Payment APIs and Integration 52

Stax

NOVEMBER 6, 2023

In 2022, there were 1802 instances of data compromise in America which affected 422 million people. There are various methods of enforcing data security, such as data masking, encryption, authentication, and data tokenization. Today, data is as important as currency and should be safeguarded as such. Let’s get started.

Encryption 88

Encryption PCI DSS Data Security Origination 88

FICO

FEBRUARY 16, 2023

For 2022, we saw a significant increase in compromised cards resulting from skimming activity. Total compromise cards were up 368% from 2021, with more than 161,000 impacted cards identified — nearly a 5x increase over 2021. Now that we have data from the entire year to review, we are seeing the alarming trend continue.

Compromise 98

Compromise Scams Debit Card Smishing 98

Clearly Payments

MARCH 22, 2024

At the heart of mobile payment systems are Near Field Communication (NFC), Quick Response (QR) codes, and secure elements such as encryption and tokenization. Encryption ensures that data transmitted during a transaction is scrambled and unreadable to unauthorized parties. Security is a critical component of mobile payment technology.

Contactless Payments 98

Contactless Payments Online and Mobile Banking Mobile Payments Payments 98

Fintech Review

NOVEMBER 12, 2024

Aligning these perspectives requires clear communication, shared goals, and a willingness to compromise. Banks and fintechs need robust security measures, such as encryption and authentication protocols, to protect customer data. Fintechs, on the other hand, tend to prioritise innovation, speed, and customer-centricity.

FinTech 105

FinTech Financial Inclusion Regulatory Compliance Compliance 105

EBizCharge

JULY 19, 2024

Lack of encryption Encryption is essential for protecting sensitive cardholder data during transmission over public networks. Standard PDF forms don’t typically offer end-to-end encryption for data in transit or at rest, making the sensitive information vulnerable to interception or unauthorized access by cybercriminals.

PCI DSS 52

PCI DSS Compliance Credit Cards Third-Party Service Provider 52

VISTA InfoSec

FEBRUARY 16, 2024

This includes aspects like secure authentication and logging. Insecure Cryptographic Storage: - Protect encryption keys and sensitive data they can access. - Use strong encryption, prevent flawed implementations. Broken Authentication and Session Management: - Protect user sessions from hijacking. for this process.

PCI DSS 100

PCI DSS Procedures Best Practices Verification 100

VISTA InfoSec

JUNE 21, 2023

Data breaches are affecting millions of people across the globe, with over 340 million records already compromised in 2023 headline cases and new incidents surfacing every week. You need to know if any data has been compromised and, if so, where it may have been shared. 5 - (2 votes)

Data Breach 130

Data Breach Breach Law Enforcement Cybersecurity 130

PYMNTS

NOVEMBER 18, 2020

The company confirmed in the post that while its customer’s assets are secure, personal contact information and encrypted passwords might have been compromised in the attack. “We MPC-based and cold storage crypto wallets are secured and were not compromised.”.

Bitcoin 60

Bitcoin Compromise Cryptocurrency NOV 60

PYMNTS

OCTOBER 24, 2016

Sure, the aftermath of having a card compromised is often annoying and involves changing cards stored in digital wallets and with subscription sites, but consumers know that their bank has their back. Bad guys may still get in, but what they’ll get will be “useless data” without the encryption key needed to make it usable.

Security 99

Security Encryption CHIPS Authentication 99

Stax

JULY 9, 2024

Advanced encryption techniques are used to protect sensitive data during transmission, ensuring that personal and financial information remains confidential. Compliance requires implementing robust security measures, such as encryption and authentication protocols, regularly auditing processes, and staying updated on regulatory changes.

Electronic Fund Transfer Act (EFTA) 88

Electronic Fund Transfer Act (EFTA) ACH Electronic Funds Transfer (EFT) Funds Transfer 88

Fi911

JULY 8, 2024

Social Engineering Social engineering is a manipulation technique used by criminals to deceive individuals into revealing confidential information or performing actions that compromise security. This type of fraud exploits human psychology rather than technical vulnerabilities, making it challenging to detect and prevent.

Account Takeovers 94

Account Takeovers Fraud Detection Phishing Fraud Prevention 94

Nanonets

OCTOBER 9, 2024

  💡 Bank statement verification is the process of confirming that the details in a bank statement—such as deposits, withdrawals, and balances—are accurate and authentic.  These mistakes compromise our verification accuracy and cause many delays in loan decisions.

Verification 52

Verification AI Reconciliation Payment APIs and Integration 52

PYMNTS

AUGUST 13, 2018

According to the FBI, the bank or payment processor is compromised with malware to access bank customer card information and exploit network access, enabling funds to be taken from ATMs.

FBI 58

FBI ATM Scams Third Party Vendors 58

Payment Savvy

JULY 3, 2024

Security Measures in Debit Card Payment Processing Here’s a breakdown of security measures employed in debit card payment processing: Encryption Encryption involves converting sensitive information (debit card numbers and personal details) into a coded format that is unreadable without a unique decryption key.

Debit Card 52

Debit Card Process PCI DSS Processors 52

Exact Payments

JANUARY 4, 2024

Cardholder data, such as the primary account number, cardholder name, and expiration date, is different from sensitive authentication data like CVV, track data, PIN/PIN Block, and EMV chip data. Encryption and tokenization, the process of replacing sensitive data with a non-sensitive token, should be employed to ensure data security.

PCI DSS 52

PCI DSS Compliance Audit Encryption 52

VISTA InfoSec

AUGUST 22, 2023

Exploring Biometric Data and its Privacy Implications Comprehending Biometric Data and Its Types: Biometric data refers to the unique physiological or behavioral characteristics of an individual, utilized to ascertain or authenticate identity against a pre-existing template. Altering or replacing compromised biometric traits is complex.

Privacy 130

Privacy Compliance Legal Best Practices 130

PayHawk

AUGUST 29, 2023

Multi-factor Authentication An essential layer in secure online payment processing , multi-factor authentication guarantees that those involved in a transaction are legitimate. Secure credit card processing involves an intricate dance of data, from point-of-sale encryption to meticulous backend operations.

Process 52

Process Security PCI DSS Payments 52

Core

SEPTEMBER 15, 2023

Kiosk payments mitigate these risks by managing payments electronically with built-in encryption, secure data storage, and authentication measures. Robust security measures: Kiosk systems must use secure data encryption protocols to protect sensitive financial data during transactions with multiple security layers.

Governance 52

Governance Government Transactions Security 52

PYMNTS

OCTOBER 26, 2016

From Wi-Fi hotspots to printers, unsecured routers to digital video recorders — connected devices can be vulnerable to hacks and, when compromised, are being used by hackers to launch significant distributed denial-of-service (DDoS) attacks. Going Beyond PCI. to provide additional layers of security.

Payment Security 81

Payment Security Security Identity Theft Compromise 81

PYMNTS

JUNE 11, 2019

When it comes to authentication, customers largely prioritize convenience over safety, exposing them to fraud, and putting pressure on merchants and financial institutions (FIs) to offer convenient user experiences without compromising security. However, Google , for one, is looking to add government-issued IDs to the mix.

Verification 58

Verification Authentication Blockchain Push-to-Card 58

Exact Payments

FEBRUARY 26, 2024

Tokenization securely maintains the link between a token and sensitive card data in a database known as a token vault, which is safeguarded with encryption. For example, a token generated for a credit card transaction with Google Pay is only valid for Google Pay transactions, reducing the token’s usability if it is compromised.

Fraud Prevention 40

Fraud Prevention Credit Cards Data Breach Payments 40

M2P Fintech

JANUARY 3, 2024

Core banking solutions should be scalable, considering the bank’s growth and increasing transaction volumes, without compromising performance. Ensure your CBS is equipped with robust security features that include encryption, access controls, authentication mechanisms, and compliance with industry regulations.

Payment APIs and Integration 59

Payment APIs and Integration CRM Online and Mobile Banking Regulatory Compliance 59

PYMNTS

AUGUST 19, 2019

All data transmission should be encrypted from the get-go and manufacturers should handle regular software patches and updates. . Fraudsters can swoop in when security vulnerabilities are found and left unaddressed, compromising a device and others to which it is connected. Intertwined Security .

Risk 51

Risk Security Compromise Credential 51

FICO

MARCH 8, 2017

Encryption can be effective …. … but it’s not a stake through the heart of hacking. Data encryption is a highly effective defense against hackers, particularly in achieving HIPAA compliance to protect Protected Health Information (PHI). Like encryption, however, biometrics are not a silver bullet to stop hackers.

Encryption 40

Encryption EMV Authentication Crime 40

FICO

MARCH 8, 2017

Encryption can be effective …. … but it’s not a stake through the heart of hacking. Data encryption is a highly effective defense against hackers, particularly in achieving HIPAA compliance to protect Protected Health Information (PHI). Like encryption, however, biometrics are not a silver bullet to stop hackers.

Encryption 40

Encryption EMV Authentication Crime 40

FICO

FEBRUARY 8, 2018

As I blogged last year : To protect against consumer financial fraud, there’s a lot of buzz now about using biometric information — fingerprints, iris and facial recognition, and other unique physical characteristics — to authenticate payment card transactions…. Like encryption, however, biometrics are not a silver bullet to stop hackers.

Security 65

Security Cybersecurity Authentication Account Takeovers 65