96 Results from 2016, /security
Retired Member
How do we improve Anti-Money Laundering investigations? We all know money laundering, terrorist financing and the impressive growth of the narco-economy continues to pose a serious threat to the integrity of the global financial system. It is an inevitable by-product of criminal enterprises that generate an estimated $300 billion annually in the
21 October 2016 /security
Last year more than 18,700 attacks were reported on Europe’s ATMs - that’s nearly 1 in 20 ATMs impacted by security breaches and that doesn’t include those that go unreported. As the demand for cash remains strong and with self-service devices being the favoured source, it’s clear that a robust approach to security is vital in order to protect both...
20 October 2016 /security /retail
Instances of Banks suffering cyber attacks are on the rise. Cyber attacks were reported this week on Banks in India. In fact Reserve Bank of India (India's Central Bank) came out with rigorous guidelines on Cyber Security Framework in June 2016. It is time for the major Central Banks of the world to come together and lead the fight against this ec...
19 October 2016 /security
The Money20/20 agenda is always packed; the event inspires insightful discussion, debate and collaboration every year. And this year promises to be no exception. I'm especially looking forward to chewing over these three topical trends in Las Vegas: 1. The Checkout Challenge It is a retail priority to reduce friction at the checkout – online, on mo...
17 October 2016 /security /retail
Ben Bradley
Chargebacks are a complex, expensive and aggressive problem. First, they come in all shapes and sizes and impact all types of merchants. There are two main types of chargebacks — fraud (which includes true and friendly fraud) and non-fraud. True fraud chargebacks occur when the purchase was not made by the cardholder, as in a case of identity thef...
14 October 2016 /security /payments
Howard Berg Senior V President,North and Central Europe, BPS at Gemalto DIS
The UK is facing a growing crisis at the moment. Since 2010, Card Not Present (CNP) Fraud has cost the UK economy £1.7 billion, with the number set to increase as UK banks deliberate how to cure the problem. CNP is currently responsible for 70% of card fraud on EMV, a global standard for credit and debit payment cards based on chip card technology...
13 October 2016 /security
Although only recently introduced, the trend lines for the adoption of mobile wallet technologies like Apple Pay, Google Wallet and Android Pay resemble those of smartphones—hockey-stick growth curves. One report anticipates global mobile wallet transaction volume will become the leading payment method in 2019, enabling $647 billion in transaction...
10 October 2016 /security
In 2004 the Royal United Services Institute staged a conference, UK Resilience: Joining up the Sectors, whose purpose was to provide a forum for debate on ‘a set of specific issues that have been identified as weaknesses’. One of these is Corporate Resilience, of which it said: ‘The urgent need to develop more resilient organisations has, of neces...
10 October 2016 /security /regulation
Keith Stanton International Product Manager (Fraud & Risk) at FIS
Once again data breaches have made headlines globally, bringing significant negative publicity, impacting consumers who have had their data compromised and prompting the public to question just how safe their personal data is in the hands of others. I speak from personal experience here; in the last 10 years I have been notified of 5 separate data ...
07 October 2016 /security /regulation
The financial services have always had a complex relationship with cloud computing. Faced with increased competition from fintech players, many retail banks for example, are looking to expand their consumer offering faster and more cost-efficiently, leading to quicker return on investment and competitive advantage. Cloud environments offer these o...
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