Latest Card fraud News: Finextra Research

Security fears scaring consumers off the Web - survey

Security fears are stunting the growth of e-commerce in the UK, with refusenik consumers citing media scare stories and personal accounts of online credit card fraud as reasons for not shopping on the Web.

12 February 2009

News/Card fraud

ICBA poll suggests thousands of banks at risk from Heartland breach

An informal online poll conducted by the Independent Community Bankers of America (ICBA) found that only four per cent of participating members have not been affected by the Heartland Payment Systems card data breach.

12 February 2009

News/Card fraud

RBS WorldPay ATM heist nets $9 million in 30 minutes

RBS WorldPay, the US payments processing arm of Royal Bank of Scotland Group, allegedly lost $9 million in a 30-minute period during a global ATM heist that involved 100 cloned cards in 49 cities worldwide.

04 February 2009

News/Card fraud

Handelsbanken puts locks on cards

Sweden's Handelsbanken is tackling the growth in fraud committed on cards abroad by putting locks on them which customers can disable with a click of a mouse when they leave the country.

03 February 2009

News/Card fraud

Apacs warns of phone scam comeback

Brits are being warned by payments association Apacs about the resurgence of old-style phone scams, where fraudsters posing as bank security staff call victims and dupe them into handing over their card details.

30 January 2009

News/Card fraud

Apacs disputes erroneous CPP card fraud claims

Over 12 million Brits - one in four of the population - have fallen victim to credit or debit card fraud, according to a report from life assistance company CPP. However the figures - initially presented as a year-on-year number - have been labelled "wildly out of line" by payments association Apacs.

29 January 2009

News/Card fraud

Banque Populaire to issue Xiring card readers to Internet banking customers

Banque Populaire in France is to equip 400,000 customers with Xiring's Xi-Sign card authentication reader for securing online banking and e-commerce.

26 January 2009

News/Card fraud

US payment processor Heartland reports massive data breach

Heartland Payment Systems says it has found malicious software in its processing system, potentially compromising the card data of millions of people.

21 January 2009

News/Card fraud

TJX breach suspect jailed in Turkey over bank hacks

A Ukrainian man accused by US authorities of involvement in the TJX data breach has been jailed for 30 years in Turkey after being found guilty of hacking the computer systems of 12 banks in the country.

09 January 2009

News/Card fraud

European Payments Council calls for action on counterfeit cards

The European Payments Council has released a set of recommendations designed to counteract card skimming at cash machines.

08 January 2009

News/Card fraud

MasterCard acquires Orbiscom

MasterCard has acquired Dublin-based card security company Orbiscom for a maximum consideration of $100 million.

05 January 2009

News/Card fraud

German card data sent to newspaper on microfilm

Microfilm containing the credit card details of tens of thousands of Germans has been anonymously sent in the post to the Frankfurter Rundschau newspaper.

17 December 2008

News/Card fraud

Visa introduces SMS one-time passwords for online shopping

Visa has partnered with banks in China and Taiwan to introduce an SMS-based one-time password system for cardholders to authenticate themselves when making online purchases.

17 December 2008

News/Card fraud

Toys R Us shoppers hit by Eftpos skimmers

Police in Sweden are warning shoppers who bought goods in two Toys R Us stores in the last few weeks to cancel their bank cards after skimming equipment used to steal data was found on Eftpos terminals.

16 December 2008

News/Card fraud

Dubai police arrest gang over £40m card fraud

Police in Dubai have arrested three men accused of stealing more than Dh223 million (around £40 million) after obtaining credit card information used in online transactions.

16 December 2008

News/Card fraud

UAE banks to roll out iris scanning

Banks in the United Arab Emirates are reportedly set to introduce iris scanning technology at the ATM, following a recent surge in cash machine fraud across the country.

04 December 2008

News/Card fraud

Continental Europeans less trusting of online banking security - survey

The PayPal Global Trust and Safety Report, which surveyed 6,000 online users from the US, Canada, France, Germany, Spain and the UK, found that 56% of Americans, 53% of Canadians, and 49% of those in the UK feel their bank's online service is very secure. Continental European countries are less trusting of online banking security, with only 38% of the Spanish, 34% of the French and just 14% of Germans feeling their bank's online service is very secure.

21 November 2008

News/Card fraud

Virtual world assets are 'soft target' for cybercriminals - ENSIA

The failure to recognise the importance of protecting real-money value locked up in multiplayer online games and virtual worlds has led to an escalation in world fraud that threatens one billion users globally, says the European Network and Information Security Agency.

20 November 2008

News/Card fraud

Banks cite payments, ID theft and Eastern Europe as emerging compliance threats

New payment methods, identity theft and Eastern Europe are identified by senior anti-money laundering and compliance professionals as the biggest emerging threats to the financial sector, according to a survey conducted by risk outfit Fortent.

12 November 2008

News/Card fraud

Four banks to trial Visa PIN code cards

Four European banks are to pilot a new Visa card comprising a display for generating one-time numeric codes for consumers to use when transacting online or by telephone.

10 November 2008