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Contactless card fraud: Myths and Realities exposed
Contactless card fraud has made headlines this year. In this post we take a look at some of the key myths and offer explanation to the realities. No. 1 myth: Data theft with long-range RFID readers This myth says that fraudsters would be able to use long-range RFID readers to extract data from contactless cards [...]
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US fraud losses rising on debit cards – falling on credit cards
US fraud levels are rising across all payment card products, according to First Annapolis’ semi-annual survey of major card issuers, but changes in fraud write-offs vary by product. Survey results1 show that reported cases of payment-card fraud for credit, signature debit, and PIN/ATM debit all increased significantly from 2015 to 2016 writes Casey Merolla, Senior Manager, [...]
The post US fraud losses rising on debit cards – falling on credit cards appeared first on Payments Cards & Mobile.
Android malware Trojan targeting mobile banking apps and social media
A new Android malware Trojan has surfaced and is ripping through the entire banking sector in the US and Europe by appearing as a Flash Player App. The Android malware Trojan has already targeted the customers of around 94 major banking and financial apps in US and Europe including Santander, Coinbase, American Express, PayPal, Deutsche [...]
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Biometric authentication – are you and your money safe?
Most big high street banks are beginning to use biometric authentication to give customers a more convenient way to check their account balance or make payments. However, one big question remains unanswered: is it safe? A cyber security expert from consultancy NCC recently visited the Financial Times to give a demonstration of how to hack [...]
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Consumer demand for banks to adopt biometric authentication doubles
Demand for different types of biometric authentication has risen significantly since 2014, with iris scanning moving ahead of fingerprint technology to the top of the 2016 Future Password Index (FPI). The second iteration of the FPI revealed that 60% of consumers would consider using iris scanning technology in 2016 compared to just 33% two years [...]
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