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MasterCard hit with £68.6 million interchange fee fine
MasterCard has been hit with a £68.6 million fine to be paid to Sainsbury’s after losing a Competition Appeal Tribunal over interchange fees. MasterCard is involved in a raft of litigation over interchange fees on the use of its credit and debit cards, having been found by the European Commission to have abused its dominant market [...]
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Beyond the Blockchain hype
We seem to be in the midst of a Blockchain hype cycle. Distributed ledger technology is being touted as the solution for tracking assets, executing contracts and modernising payment infrastructure. Everyone is investing in and/or investigating the Blockchain: central banks, stock exchanges, and fund houses, a consortium of more than 20 banks, private companies and [...]
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Absa Bank Joins R3 blockchain consortium
Absa Bank, the South African subsidiary of Barclays Africa Group, has joined the R3 blockchain consortium representing over fifty major corporations from around the world. Absa will also be working towards developing a collaborative working group with other South African banks to develop the African continent’s first distributed ledger-based banking solution. “The addition of Absa marks another significant [...]
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Card fraud rises globally: one in three consumers fall victim
Card fraud rates are on the rise in many parts of the world despite the widespread adoption of fraud analytics solutions by financial institutions and retailers, along with EMV in most countries, according to a new global from ACI Worldwide and Aite Group. The report 2016 Global Consumer Card Fraud – Where Card Fraud Is Coming [...]
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Majority of cyber attacks initiated by malicious insiders
Ransomware and malicious insiders are on the rise and upper management is showing greater interest in information security – according to a new threat intelligence report from IBM X-Force. Ransomware rising Ransomware like CryptoWall has become one of the top mobile threats, in addition to desktop threats. It’s been found wrapped into a variety of [...]
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