Cyber Security RSS

The annual cost of fraud in the UK could be as high as £193bn per year according to a new report. This dwarfs previous estimates produced by the UK Government which put the figure at around £50bn in 2013. The Annual Fraud Indicator 2016 has been overseen by the UK Fraud Costs Measurement Committee (UKFCMC), [...]

The post Fraud costing the UK economy £193bn a year appeared first on Payments Cards & Mobile.

The PCI security standards council (PCI SSC) has published an update to its global data security standard. PCI DSS Version 3.2 replaces version 3.1 to address growing threats to customer payment information. “We’ve seen increase in attacks that circumvent a single point of failure, allowing criminals to access systems undetected and to compromise card data,” [...]

The post Breach trends drive PCI DSS update appeared first on Payments Cards & Mobile.

A Russian-speaking Skimer group forces ATMs to assist them in stealing users money. Discovered in 2009, Skimer was the first malicious program to target ATMs. Seven years later, cyber criminals are reusing the malware: but both the crooks and the program have evolved, and this time they pose an even more advanced threat to banks [...]

The post ATM is the New Skimmer – Skimer mutates appeared first on Payments Cards & Mobile.

The fraudsters’ calculation is simple: where there’s a great deal of revenue to be earned, there’s a great deal of fraud to be committed. And where there’s even more revenue to be earned, there’s even more fraud to be committed. In international e-commerce, the signs are pointing the way to increased revenue – and the fraudsters [...]

The post Top 5 international fraud trends appeared first on Payments Cards & Mobile.

The European Central Bank will set up a database to register incidents of cyber attack and cyber crime at commercial banks, aiming to create an early warning and analysis system for big lenders, it told German newspaper Handelsblatt last week. The ECB has been running a pilot project since February with 18 larger euro zone [...]

The post ECB steps up cyber attack offensive appeared first on Payments Cards & Mobile.