Fraud and Security

Here are our twenty most recent articles on Fraud and Security.

Mobile signature interoperability

SmartTrust and Methics have announced the successful completion of interoperability tests between their mobile signature service products.

USAA teams for mobile authentication

USAA has announced that it is giving its mobile users "faster, more secure mobile logon access to their banking, insurance and investment accounts through its new quick logon and authentication security software."

Fraudulent US ATM withdrawals on the rise - Javelin

With around 10% of US fraud victims having their details used to make withdrawals at ATMs, banks need to beef up their machines' security, according to a report from Javelin Strategy & Research.

European ATM fraud losses down 36% reports EAST

EAST (the European ATM Security Team) has reported a 36% drop in ATM related fraud losses in 2009, with total losses of 312 million Euros reported (down from 485 million Euros in 2008). Annual losses due to card skimming have fallen for the first time since EAST began reporting in 2004 (down from 484 million Euros in 2008 to 310 million Euros in 2009).

Fraud threat evolving

Fraud against UK financial institutions and their customers is evolving rapidly as organised criminals move into the mass-market and recession-hit consumers falsify their data, according to figures compiled by credit risk agency Experian.

Mobile security

There is a well-known idea that the more technology you have the more likely it is to go wrong.

EPC defends Sepa Direct Debits against consumer fraud allegations

The European Payments Council has hit out at accusations by consumer groups that customer protection and security procedures are being undermined by the roll-out of the new Sepa Direct Debits (SDD) scheme.

UK Card and Banking Fraud Losses Down 28% in 2009 to £440.3M

The UK Payments Council has released new data on fraud losses for the full year 2009 that show that "total fraud losses on UK cards fell by 28% between 2008 and 2009 to £440.3 million – a decrease of £170 million on the previous year’s total."

Banks failing to protect small businesses from cyber crime wave

The US banking industry is failing to protect its small business customers from a destructive epidemic of cyberfraud that is sweeping the nation, according to research by Guardian Analytics and Ponemon Institute

UK firms failing on PCI DSS compliance

The vast majority of UK firms have yet to be certified as PCI DSS compliant with a third unsure if they will meet an upcoming September deadline, according to research commissioned by vendor Tripwire.

Atos Origin Earns Security Certification for its DEP/PCI Hardware Security

Atos Worldline, which brings together Atos Origin’s expertise in high-tech transactional services, has received for its DEP/PCI card the FIPS 140-2 Level 3 certification from the National Institute of Standards and Technology (NIST) and the Communications Security Establishment Canada (CSEC). Federal Information Processing Standards (FIPS) 140-2 is the most widely adopted security benchmark for cryptographic solutions in government and commercial enterprises. The standard defines four levels of compliance. Security requirements become more stringent as the certification levels increase. U.S. federal agencies are required to use only FIPS-certified products in any federal system that uses cryptography to protect sensitive or valuable information.

Canadian crooks compromise card terminals

The debit cards of hundreds of people in the Canadian city of Windsor have been compromised after crooks tampered with payment terminals in fast food joints, installing Bluetooth technology into the PIN Pads and wirelessly downloading account information.

Cambridge researchers show Chip and PIN system vulnerable to fraud

Researchers at the University of Cambridge Computer Laboratory have uncovered flaws in the Chip and PIN system that allow criminals to use stolen credit and debit cards without knowing the correct PIN.

IronKey bids to crack corporate banking cybercrimewave

Portable computing firm IronKey has launched a USB-based system designed to protect US corporate banking customers from an epidemic of cybercrime caused by malware-infected PCs.

Thales paves the way for authentication on the move

Thales has launched ‘SafeSign Mobile Authentication which enables strong authentication using a mobile device’.

Javelin Study Finds Identity Fraud Reached New High in 2009

Javelin Strategy & Research has announced results from its 2010 Identity Fraud Survey Report - finding that "the number of identity fraud victims in the US increased 12% to 11.1 million adults in 2009, while the total annual fraud amount increased by 12.5% to $54 billion.

people reusing banking passwords

Around two thirds of internet users are putting themselves at risk of fraud by using their online banking credentials on other sites, according to e-security vendor Trusteer.

Cambridge scientists blast 3-D Secure system

The 3-D Secure protocol adopted by banks and card schemes under the Verified by Visa and MasterCard SecureCode banners has been branded by Cambridge University academics as "a textbook example of how not to design an authentication protocol" by ignoring good design principles and presenting "significant vulnerabilities".

Consumers remain insecure when banking online as fraudsters stay a step ahead

Consumers around the world are becoming increasingly aware of, and concerned by, online security issues, yet more people than ever are falling prey to cyber-scams, according to a survey from RSA.

Taking the initiative in the fight against mobile phone crime

Action to prevent criminals abusing new mobile phone technology, which allows them to be used like debit, credit and pre-paid cards, has been agreed by the government, mobile phone and card payments industries, Home Office Minister Alan Campbell.

Fraud and Security

Mobile signature interoperability

USAA teams for mobile authentication

Fraudulent US ATM withdrawals on the rise - Javelin

European ATM fraud losses down 36% reports EAST

Fraud threat evolving

Mobile security

EPC defends Sepa Direct Debits against consumer fraud allegations

UK Card and Banking Fraud Losses Down 28% in 2009 to £440.3M

Banks failing to protect small businesses from cyber crime wave

UK firms failing on PCI DSS compliance

Atos Origin Earns Security Certification for its DEP/PCI Hardware Security

Canadian crooks compromise card terminals

Cambridge researchers show Chip and PIN system vulnerable to fraud

IronKey bids to crack corporate banking cybercrimewave

Thales paves the way for authentication on the move

Javelin Study Finds Identity Fraud Reached New High in 2009

people reusing banking passwords

Cambridge scientists blast 3-D Secure system

Consumers remain insecure when banking online as fraudsters stay a step ahead

Taking the initiative in the fight against mobile phone crime

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