High-profile retail breaches, such as the one suffered by Target Corp., could spur more merchants to promote increased use of mobile payments to boost security, says Thad Peterson, a new analyst at Aite Group.
The arrests of more than 90 individuals for their alleged involvement in the use of BlackShades malware is a sign of progress in the global fight against cybercrime, but some experts question whether the crackdown will serve as a fraud deterrent.
Class action lawsuits that banking institutions filed against Target Corp. in the wake of the retailer's massive breach are being consolidated. The suits seek recovery of expenses, such as the cost of re-issuing affected payment cards.
A multi-layered approach known as "context-aware security" is the most effective strategy for fighting both insider and external cyberthreats, says Gartner analyst Avivah Litan, who explains how this strategy works.
Third-party risks and the Fed's plans for emerging payments will be highlighted at ISMG's Fraud Summit Chicago on May 14. How banking institutions and retailers are expected to respond to new risks posed by external parties will be a focus for our keynote panel.
Card breaches at retailers such as Target and Neiman Marcus will likely be catalysts for improved cyberthreat intelligence and information sharing across the banking and retail sectors, says Mike Braatz of ACI.
Police have withdrawn their allegation that a man arrested for fraud in Georgetown, Texas, also may have been involved in the Target Corp. data breach last December that impacted millions of customers.
"Security as a business enabler" was the mantra echoing through the recently concluded 2014 Infosecurity Europe conference in London, a message that should have been heeded by top executives at retailer Target last year.
Banking institutions that are considering whether to accept virtual currencies, such as Bitcoin, must consider the risks involved, including money-laundering. Learn about the very latest Bitcoin developments.