Card fraud

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/Card fraud

FSV Payment Systems rolls out Enacomm fraud control module

FSV Payment Systems, a U.S. Bank wholly-owned subsidiary and a leader in prepaid program management and processing services, is now utilizing Enacomm’s ViA® Fraud Control Module to effectively handle suspicious caller activity, the companies today announced at Money20/20.

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Hackers hit 6000 web stores to steal card data

Crooks have injected malicious code into 5925 online stores, enabling them to steal payment card details, according to a Dutch developer.

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South Africa sets standard for fingerprint banking

South Africa's payments body has released a standard to enable biometrics to be used on payment cards and to herald what it hopes will be an industry-wide roll-out of fingerprint banking.

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Machine learning fraud detection systems could save card issuers and banks $12 billion annually

Adaptive behavioural analytics software reduces ‘genuine transactions declined’ by over 70% and incidence of undetected fraud by 25%

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Arrests made in Taiwan ATM swindle

Police in Taiwan have arrested three of the 16 men allegedly responsible for stealing more than $2.5m from ATMs earlier this month.

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NetGuardians and BehavioSec forge fraud protection partnership

Swiss-based NetGuardians and Sweden’s BehavioSec are joining forces to leverage their complementary technologies to provide complete fraud protection to financial institutions – and their clients – around the world.

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Nearly 1 in 3 consumers victimised by card fraud

Thirty percent of consumers globally have experienced card fraud in the past five years, according to new global benchmark data from ACI Worldwide (NASDAQ: ACIW) and Aite Group.

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Credit card fraud ring bust sees 105 arrests

Cops in Europe and Malaysia have arrested 105 people accused of participation in a massive organised criminal enterprise that made counterfeit credit cards that were used to buy high-value goods worth millions of euros.

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ABA endorses Rippleshot card compromise detection programme

The American Bankers Association – through its subsidiary Corporation for American Banking – has announced its endorsement of a unique card compromise detection tool, Rippleshot Sonar, offered by the Chicago-based company Rippleshot.

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Acer hack puts thousands of customer card details at risk

Taiwanese PC manufacturer Acer says hackers may have stolen the financial details - including card numbers, expiration dates and security codes - of tens of thousands of customers who used its online store.

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Wendy's finds more malware at restaurants

Fast food chain Wendy's is warning that a previously reported malware attack on franchisee-owned restaurant POS systems is "considerably" bigger than first thought.

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Fraud specialist Ravelin scores PCI DSS certification

Ravelin, UK-based fraud specialists has today announced they have secured Payment Card Industry Data Security Standard (PCI DSS) certification as they continue to bring together the latest technologies for fraud detection.

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Malware turns whole ATMs into skimming devices

A Russian-speaking criminal gang is using 'Skimer' malware to turn whole ATMs into skimming devices, enabling the crooks to make withdrawals and steal card details, Kaspersky Lab is warning.

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Wendy's faces class action suit over data breach

Fast food chain Wendy's is facing a possible class action lawsuit from financial services firms over a data breach that saw customer card information stolen.

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Financial Services industry losing £165 million in invoice fraud

Businesses in financial services (FS) are losing more than £165 million in invoice fraud every year.

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Card skimming losses continue to rise outside Europe

The European ATM Security Team (EAST) has reported that skimming losses relating to the usage of stolen European card data outside Europe have risen to the highest level seen since 2008.

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'Good luck with that': Obama mocks Trump's plan to stop remittances to Mexico

US President Barack Obama has dismissed Donald Trump's threat to stop Mexican immigrants from sending remittances back home as a way of forcing Mexico to pay for a border wall.

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73% of American firms targets of payments fraud in 2015

Nearly three quarters of all American businesses were targeted for payments fraud in 2015, according to new research by the Association for Financial Professionals.

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Square faces Oz bank concerns over mPOS security

Square's move into Australia has gotten off to a rocky start, with Commonwealth Bank only agreeing to lift a security-related block on the mPOS service after an intervention from Visa and MasterCard.

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AmEx warns card members of merchant data breach

American Express is writing to some card members warning that their account information has been compromised by a data breach at a third party provider.