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The rate of mobile fraud is highest on Android devices, according to new data from fraud specialists Kount, with mobile fraud also outpacing that of online and in-store fraud for the first time this year. The company analysed over 100 million transactions across various devices from its customer base of thousands of merchants across all [...]
Vasco Data Security, a global digital security specialist, has announced that Sumitomo Mitsui Banking Corporation (SMBC) will provide their online retail banking customers with a highly-secure mobile banking solution for their smartphones developed with Vasco’s Digipass for Apps. SMBC has experienced a rapid increase in the number of transactions conducted via smartphones. This is SMBC’s [...]
The post Vasco and Sumitomo Mitsui to create secure mobile banking app appeared first on Payments Cards & Mobile.
New figures from payment industry researchers The Nilson Report show that the US accounted for 48.2% or $7.86 billion of gross losses worldwide on plastic cards in 2014. These figures comprise 21.4% or $6.187 trillion of total volume. Fraud losses incurred by banks and merchants on all credit, debit, and prepaid general purpose and private [...]
UK bank NatWest, part of the RBS group, has suffered another online banking crash which has affected thousands of users. The latest IT failure comes only six weeks after the bank suffered a crash that caused over 600,000 transactions and hundreds of thousands of pounds in payments to go missing. The bank’s IT team is [...]
After a series of high-profile hacking attacks, many companies are considering more aggressive tactics to fight back against cyber crime, including “active defence” strategies. The most controversial is “hacking back” against cyber criminals, which is against US law and, according to several bank officials, a bad idea because of the difficulty in definitively identifying culprits. [...]