Cyber Security RSS

Cyber Security, cyber security regulations, Daily News, Fraud & Security, Identity -

The New York State Department of Financial Services has outlined its proposals to strengthen cyber security regulations. In a letter to other state and federal regulators, the NYDFS says it “considers cyber security to be among the most critical issues facing the financial world today”. The watchdog, which has been investigating the issue for the [...]

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Cyber Security, cyber security market, Daily News, Fraud & Security, Identity, UK cyber security -

The free market is failing when it comes to cyber security, Britain’s electronic spy chief has warned in a rare public intervention that could pave the way for tougher regulation as the threat of attack becomes “exponential”. “It is time to take a hard look at whether the international market for cyber security is working sufficiently [...]

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Cost of Fraud, Cyber Security, Daily News, Fraud, Fraud & Security, Fraud Study, Merchant Fraud, POS Terminals -

Merchants are experiencing an increase in fraud, losing 1.32% of revenue to fraud on average compared to 0.68% in 2014, according to the annual LexisNexis True Cost of Fraud Study. International and m-commerce merchants were hardest hit with losses of 1.56 and 1.68% respectively. Merchants saw an average of 333 fraudulent transactions per month, up [...]

The post Merchant fraud-to-sales losses up on 2014 appeared first on Payments Cards & Mobile.

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Chip and PIN, Cyber criminals, Cyber Security, Daily News, EMV, Fraud & Security, FUNcard, Hackers, POS terminal -

It has bee revealed that cyber criminals have worked out a way to hack the Chip and PIN card system currently being introduced at businesses throughout the US and widely used throughout Europe. Five French citizens have been convicted of manipulating vulnerabilities in the system with a card-switching technique that included substituting the PIN on a [...]

The post Cyber criminals break Chip and PIN appeared first on Payments Cards & Mobile.

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botnet, Cyber criminals, Cyber Security, Daily News, Dridex, Dridex malware, Fraud & Security, Identity -

Thanks to an international law enforcement operation, the ultra-virulent Dridex malware and related botnet have been disrupted as the US’s DOJ targets a Moldovan man in connection with Dridex malware thefts. But what was crucial to the takedown – and for any such future efforts – was the unprecedented level of collaboration among financial services firms [...]

The post How the Dridex malware ring was taken down appeared first on Payments Cards & Mobile.

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