Sunday 29 March 2015 | RSS

 
  • Featured partners
  • About our partners
Feedback
 

Fraud

News about Fraud.

Apple stores hit hardest by Apple Pay fraudsters

March 9th, 2015

Credit card data stolen in recent data breaches at big retailers has led to a wave of fraudulent Apple Pay transactions, reports the Wall Street Journal. “About 80% of the unauthorized purchases have been for big-ticket items bought with smartphones at Apple’s own stores.”

US identity fraud drops, but breaches scare consumers

March 5th, 2015

The number of victims of identity fraud in the US decreased 3% to 12.7 million in 2014 and total fraud losses declined to US$16 billion — a decrease of 11% from 2013 — a study from Javelin Strategy & Research has found. However, a series of high-profile card data breaches had a great impact on consumer purchasing decisions, with 28% of fraud victims saying they avoided affected merchants after the fraud, say the authors of the 2015 Identity Fraud study.

Apple Pay provisioning fraud hole “has to get plugged now”

March 1st, 2015

“Rampant” fraud levels being experienced by US card issuers that have signed up for Apple Pay need to be addressed with urgency, payments consultant Cherian Abraham has told NFC World, to avoid Apple, the individual… More

Consultant: Apple Pay fraud “rampant”

February 23rd, 2015

Apple Pay fraud levels are now “rampant” with every Apple Pay (AP) issuer having seen “significant” provisioning fraud, payments consultant Cherian Abraham claims in a detailed blog post. The fraud levels being experienced “came as a surprise to all”, he writes. “Tokenization, on-device secure storage and biometrics separately and together are formidable, but the soft underbelly proved to be provisioning of cards into AP.”

Six in ten US terminals to support EMV chip cards by year end

February 19th, 2015

About 59% of US point-of-sale (POS) terminals will be EMV-enabled by the end of this year, research by Aite Group has revealed, with NFC distribution projected to “ramp at the same rate as EMV distribution,”… More

Understanding tokenization and host card emulation webinar: See it now on NFC World

February 18th, 2015

NFC World’s ‘Understanding tokenization and host card emulation’ workshop is now available to view online. 756 people registered to attend the live event, and participants gave the presentation an overall rating of 4.2 out of five…. More

Visa sets out tokenization expansion plans

February 13th, 2015

Visa is to expand its Visa Token Service to more regions, to a range of mobile devices and to online transactions made using its Visa Checkout service in 2015, the payments network has announced, “helping to… More

HyprKey unveils biometric mobile wallet add-on

January 9th, 2015

A US startup is taking pre-orders for a biometrically secured mobile wallet, consisting of a payment app and Bluetooth Low Energy (BLE)-based “bio-sticker” attached to the back of the user’s phone. The system, shown at… More

Korean banks partner with messaging giant for mobile banking service

November 13th, 2014

Korean internet and messaging giant Daum Kakao has launched BankWalletKakao, a mobile wallet service provided in partnership with 16 Korean banks and Korea Financial Telecommunications and Clearing Institute (KFTC). The service leverages instant messaging technology… More

Bell ID offers tokenization management software

October 23rd, 2014

PARTNER NEWS: Payment credential management specialist Bell ID has introduced Tokenization Manager, a software solution that can be used by token requesters such as card issuers to manage payment tokens, by digital wallet providers to… More

Amex commits $10m to EMV upgrades

October 20th, 2014

American Express is to launch a US$10m Small Merchant EMV Assistance Program in February 2015 to drive adoption of EMV. “We know from speaking with our smallest merchants that they are too busy running the day-to-day operations of their businesses to keep up with the constantly changing fraud landscape,” says Amex’s Anré Williams. “We’re launching this program to help educate small merchants about point-of-sale security and offset the cost of upgrading their terminals.”

Federal Reserve gives cautious backing to tokenization

September 24th, 2014

The US Federal Reserve’s Mobile Payments Industry Workgroup (MPIW) has given cautious backing to the potential of tokenization in mobile payments and formed a subgroup dedicated to exploring the impact of the technology in more… More

Barclays to provide corporate customers with finger vein biometric devices

September 5th, 2014

Barclays is to provide its UK corporate banking customers with finger vein biometric authentication devices that will let them “easily access their online bank accounts and authorise payments within seconds, without the need for PIN,… More

US merchant groups call for creation of open tokenization standards

August 1st, 2014

Leading merchant groups in the US have come together to call for the creation of an alternative set of open standards for tokenized payments that would be managed by an independent body such as ISO or ANSI — rather than by the payments industry. More

HID Global aims to cut Medicaid fraud via NFC

July 8th, 2014

HID Global has introduced a care worker tracking service that meets Medicaid Electronic Visitor Verification (EVV) requirements. The service uses NFC tags and NFC phones to provide an “indisputable and auditable” record of visits made… More

Survey finds American cardholders are ready for EMV

July 4th, 2014

Almost 70% of Americans believe that EMV chip technology makes their debit and credit card transactions more secure, with only 5% feeling chip cards make their transactions less secure, a new survey released by NXP… More

Deluxe brings checks into the mobile era

July 4th, 2014

US check printing company Deluxe Corporation has introduced the Deluxe Mobile Checkbook, a new app that will let small business owners send and receive checks using their mobile device. Available now for iOS, the app… More

BioCatch raises $10m to expand behavioural biometrics platform

June 24th, 2014

BioCatch has raised US$10million to expand its behavioural biometric authentication platform. The service collects and analyses more than 400 behavioural signals and is used by banks to detect suspicious behaviour online. It is now also available… More

Aite reports on US migration to EMV

June 10th, 2014

Some 70% of US credit cards and 41% of debit cards will be EMV enabled by the end of 2015, according to a new Aite Group report, but the majority will be contact cards rather… More

App that turns off debit cards sees massive usage surge after Target breach

June 6th, 2014

Usage of mobile banking technology provider Malauzai Software’s debit card on/off service, which allows customers of its financial institution clients to use their mobile phone to activate and deactivate their debit card on the go,… More

Page 1 of 3123