Finextra Research: Latest fintech news, analysis, interviews, features and opinion by industry experts

Feds charge 'Iceman' with card data theft

A California man known by the Internet alias of 'Iceman' has been charged with operating an online scheme to steal and sell credit card and other confidential data belonging to tens of thousands of people.

13 September 2007

News/Card fraud

Online fraud hits 200,000 Brits in 2006

Over two hundred thousand cases of online financial fraud were commited in the UK last year - double the amount of real world robberies - according to a study carried out by criminologists at consultancy firm 1871.

07 September 2007

News/Card fraud

Global Payments inks card processing deal with Sarajevo's Postbank

US e-payments outfit Global Payments has won a five year agreement to provide card processing services to Sarajevo-based Postbank BH.

15 August 2007

News/Card fraud

Hitachi and JCB team for biometric payments system

Electronics giant Hitachi is teaming with Japanese card issuer JCB to develop a biometric payment system based on its finger vein authentication technology that can be used as an alternative to cards and cash at the point of sale.

23 July 2007

News/Card fraud

Westpac cancels cards after security scare

Australian banking group Westpac has cancelled thousands of Visa credit cards over the past week following a security breach at an un-named third party vendor, according to local press reports.

19 July 2007

News/Card fraud

UK banks stage go slow over Faster Payments

The UK banking industry is to delay the launch of the Faster Payments scheme until next year, after VocaLink slipped its delivery schedule for the central system by more than four months.

12 July 2007

News/Card fraud

QSecure launches anti-fraud technology for mag-stripe cards

California-based start-up QSecure has launched its patented SmartStripe technology which incorporates dynamic cryptography on the magnetic stripe of a plastic payment card to generates a one-time authentication number for each purchase.

20 June 2007

News/Card fraud

ABN Amro adds anti-skimming device to ATMs

Dutch bank ABN Amro is attaching anti-skimming devices to its 1200 outdoor cash machines across the Netherlands.

06 June 2007

News/Card fraud

Chinese banks get together to tackle online banking fraud

Sixteen banks and the China Financial Certification Association are working together on anti-fraud mechanisms to improve security for online banking customers.

01 May 2007

News/Card fraud

One-time password generator squeezed onto bank card

Digital security firm VeriSign is expected to announce a deal today with InCard Technologies to create bank cards that incorporate its password system, according to an AP report.

01 May 2007

News/Card fraud

Online ID start-up Garlik secures additional £6 million VC funding

Garlik, the online identity theft early warning system founded by former Egg executives, has secured £6m in Series B funding from venture capitalists 3i and Doughty Hanson.

26 April 2007

News/Card fraud

Barclays to roll out smart card readers to online banking customers

In the second half of this year, Barclays customers who use their online bank account to set up payments to new third party accounts will be issued with handheld chip and PIN readers provided by Dutch vendor Gemalto.

18 April 2007

News/Card fraud

FreeStar Technology wins court case against fraudulent VC investor

Payment processing and technology company FreeStar Technology Corporation has claimed a victory in its court case against Swedish venture capital firm Svensk Kredit och Finans and related parties.

17 April 2007

News/Card fraud

TJX hack is biggest ever with 45.7 million card numbers stolen

Fraudsters who hacked the computer systems at US retailer TJX managed to steal more than 45.7 million credit and debit card numbers over a period of more than 18 months, making it the biggest breach of personal data ever.

29 March 2007

News/Card fraud

First Data to explore creation of cross-border fraud database

US e-payment processor First Data says it is looking at ways of establishing a shared global multi-national banking database that would help banks and other agencies around the world collaborate in the fight against fraud.

29 March 2007

News/Card fraud

UK online banking crime rises as card and cheque fraud falls

Fraud figures released today by Apacs, the UK payments association, show total card fraud losses fell by three per cent in the past year to £428m - a decrease of nearly £80m over the past two years. But online banking fraud is up 44% from £23.2m in 2005 to £33.5m in 2006.

14 March 2007

News/Card fraud

Lloyds TSB launches debit card fraud detection service

UK banking group Lloyds TSB is introducing an automated telephone alert system that will warn customers of suspicious debit card transactions on their current accounts.

14 March 2007

News/Card fraud

TJX data breach widens; may include UK and Ireland customer data

US retailer TJX has admitted that the computer security breach that it disclosed in Janaury was more extensive than it previously reported and potentially exposed more transaction data to fraudsters, including information from card payments made at TK Maxx stores in the UK and Ireland.

22 February 2007

News/Card fraud

Massachusetts attorney general to probe TJX data breach

The office of the Massachusetts Attorney General is leading a multi-state civil investigation into the security breach in January at retailer TJX which may have exposed personal data belonging to millions of customers to fraudsters.

09 February 2007

News/Card fraud

Coke addict policeman gaoled for ATM raids in UK; ATM skimmers banged up in Oz

A UK police officer who conducted a series of ATM raids in order to fund his £600-a-week cocaine habit has been gaoled for six years.

19 January 2007