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

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 102

Contactless Payments Online and Mobile Banking Mobile Payments Payments 102

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

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

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

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 87

Account Takeovers Fraud Detection Phishing Fraud Prevention 87

VISTA InfoSec

NOVEMBER 7, 2023

Mutli-Factor Authentication (MFA) isn’t a new concept. What Is Multi-Factor Authentication? Let’s start with another simple definition – multi-factor authentication is any authentication method where more than one criterion has to be satisfied before access is granted to digital assets.

Authentication 130

Authentication MFA Cybersecurity Credential 130

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

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

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 Addressing 58

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

Seon

SEPTEMBER 28, 2023

This includes protecting themselves with approaches such as multi-factor authentication and malware recognition, or using reverse lookup to assess whether someone is trustworthy. Network security maintenance : The use of regularly updated firewalls and encryption systems. Investing in training for employees can help them feel valued.

Security 52

Security Phishing Best Practices Data Breach 52

PYMNTS

SEPTEMBER 26, 2016

Authentication methods for payments networks, such as SWIFT, or P2P money transfer apps are still not completely secure. Even banks sending and receiving encrypted data must prove their identity to access the data, and some of these methods are weak.

Online and Mobile Banking 78

Online and Mobile Banking SWIFT Credential Central Bank 78

EBizCharge

OCTOBER 25, 2023

An incident is only considered a data breach if the confidentiality of data is compromised. Therefore, businesses must secure their networks and systems to prevent unauthorized access by deploying strong encryption, setting up firewalls, ensuring accurate user authentication processes, and more. Were encryption keys taken?

Best Practices 52

Best Practices Data Breach Breach Phishing 52

PYMNTS

JULY 12, 2017

But this one is unique because, at least at first, it was believed that consumer biometric data may have been compromised. Krebs fears that biometric authentication is going to go mainstream before this vulnerability gets addressed. About half of its kiosks are still waiting for point-to-point encryption to be in integrated.

Risk 42

Risk Encryption Credit Cards Breach 42

PYMNTS

SEPTEMBER 30, 2019

As he noted, North Korea, acting as a singular cyberthreat, will do what it can to gain access to and compromise the credentials of foreign organizations with money ­— and, in turn, gain access to that money, of course. This includes neglecting the use of dual-factor authentication within systems, or installing security patches with haste.

Cybersecurity 65

Cybersecurity Credential Encryption Phishing 65

PYMNTS

OCTOBER 25, 2017

Of all the sensitive personal data consumers and businesses would rather not see compromised, financial data is surely toward the top of the list. Despite growing concerns over data breaches and clear gaps in financial service companies’ data security practices, researchers did find these players are aware of the value of encryption.

Breach 41

Breach Data Breach Encryption Data Security 41

PYMNTS

NOVEMBER 7, 2016

GIACT supports the ability to use real-time authentication of devices by pinging a device that’s being used and then verifying it while the transaction is happening. GIACT elegantly folded in the ability to authenticate the customer to drive trust, confidence and loyalty. That’s where real-time intelligence comes in.

Authentication 73

Authentication Interoperability Encryption Faster Payments 73

PYMNTS

JANUARY 27, 2020

One notable phishing attack occurred in 2015, when healthcare giant Anthem suffered a breach that compromised more than 80 million patient records. Two-factor authentication (2FA) or encrypting sensitive data can also help. The scheme originated from a number of phishing emails that targeted a handful of employees.

Phishing 99

Phishing Data Breach Breach Fraud Prevention 99

PYMNTS

JUNE 12, 2019

In an interview with Doug Cranston, vice president of product management at Bottomline, the executive noted that in the age of speed, fraudsters are able to more easily exploit firms’ vulnerabilities, compromise their accounts payable process and get away with ill-gotten gains, often to vanish without a trace. Fraudsters are getting smarter.

Accounts 62

Accounts Email Compromise Same Day ACH Compromise 62

PYMNTS

AUGUST 21, 2019

All data transmission should be encrypted from the start, and manufacturers should handle regular software patches and updates. The biggest concern among IoT adopters is creating strong user authentications (43 percent). And many don’t think the onus should be on the consumer. The Corporate Perspective. Consumer Perception.

Security 66

Security Data Breach Encryption Breach 66

VISTA InfoSec

AUGUST 8, 2023

Encrypting your most critical data in return for a huge payment before restoring access. Make Strong Password Usage and Multi-Factor Authentication Necessary There has been a huge report of employee passwords being compromised or stolen due to missing devices and other factors. 5/5 - (2 votes)

Small Business 130

Small Business Encryption Ransomware Cybersecurity 130

EBizCharge

JUNE 3, 2024

Payment integrations should use secure Application Programming Interfaces (APIs) with robust authentication and authorization mechanisms, such as OAuth and API keys, to control access and verify the identity of users and systems. Additionally, implementing data encryption for information both in transit and at rest is vital.

Process 52

Process Payment APIs and Integration Payments Disputes 52

VISTA InfoSec

JUNE 18, 2024

Implement a solid backup strategy to renew your operations after disruptive incidents like ransomware encryptions, hardware failures, or accidental deletions. Encrypt Sensitive Data Scrambling sensitive data into indecipherable code shields it from prying eyes, even if intercepted. Also, apply need-to-know restrictions.

Data Security 208

Data Security Security Encryption Cybersecurity 208

PYMNTS

NOVEMBER 28, 2016

In some cases, devices have been compromised and allowed unauthorized users to perform Distributed Denial of Service (DDoS) attacks, perform surveillance and monitoring, gain unauthorized access or control, induce device or system failures and disturb or harass authorized users or device owners.”

Security 43

Security Cybersecurity Privacy Best Practices 43

PYMNTS

JANUARY 27, 2017

As if Yahoo didn’t have enough on its plate, the tech company is now facing a probe from the Securities and Exchange Commission as to whether or not it could have acted more promptly in response to two massive data breaches that left over a billion customers’ information compromised. 2013 had compromised even more user data.

Data Breach 71

Data Breach Breach Security Risk 71

FICO

JANUARY 5, 2021

. #2: Fighting Fraud: How Biometrics Enhance Identity Authentication. For example, Falcon® Authentication Suite includes authentication capabilities based on user behavior (still a biometric, albeit more complex than individual physical characteristics) and device telemetry. 74% of all phishing sites now use SSL.

Financial Crimes 52

Financial Crimes Crime Posting Scams 52