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Archive for: December, 2011

Pat Carroll - ValidSoft - London | 21/12/2011 | 4693 views

The security breaches of 2011

2011 presented some fascinating security breaches that could have been prevented. Here are my top three trends, and how to avoid them in 2012!Online identity and social media sitesThe successful launch of Google+, and its privacy feature which allows users to group certain contacts into different “circles”, highlighted not only that the... Tags: SecurityGroup: Innovation in Financial Services

Pat Carroll - ValidSoft - London | 19/12/2011 | 2806 views

An endless challenge? Or a new beginning?

In my last blog post I wrote about the problems banks will have with fraud detection when the three day payment process window shortens dramatically from January 2012. Because existing risk-engine strategies do not have the benefit of knowing the real-time status of the card holder, banks struggle to determine which transactions are fraudulent and... Tags: Security, PaymentsGroup: Innovation in Financial Services

Pat Carroll - ValidSoft - London | 15/12/2011 | 3190 views | 2 comments

New payment rules - new mindset!

As of 1st January 2012, the three-day wait for fund transfers will be over. Banks must ensure that for all electronic payments (e.g. online banking transfers), the money reaches the payee’s account in a much more timely manner. This is likely to cause problems for banks and may well identify weaknesses in their approach to fraud management i... Tags: Security, PaymentsGroup: Innovation in Financial Services

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