Chip-and-PIN Credit Cards, One Year On
The U.S. was not an early adopter of chip-and-PIN credit cards, lagging behind major European countries and others. But more than a year after the official mandatory shift to this technology, the transition has reshaped most credit card transactions. As a result, the rate of credit card fraud is down sharply.
Real-Time Payments, Real-Time Fraud Risks?
Real-time payments, near real-time payments, faster payments, immediate payments — those are just some names used to describe the increasing speed of the settlement transaction process. Slow clearing times for payments can have a negative effect on businesses and consumers, but a quicker process may introduce fraud risks. The National Automated Clearing House Association (NACHA)…
Cybercriminals Are Getting Better at Using Advanced Authentication Methods
Cybercriminals are learning how to use newer authentication methods to exploit security weaknesses. As always, it is a cat-and-mouse game with serious consequences. Facial recognition software can be exploited with high-definition photos, many of which can be found on social media accounts. Fraudsters can easily bypass one-time passwords by calling cellphone companies and impersonating the…