Second Menu

NEWS

Mobile malware report reveals that more apps are spying on us

Alcatel-Lucent has released new report on malware and mobile malware showing that security threats to mobile and residential devices jumped sharply during the first half of 2014, putting device owners at increased risk of being spied on, having personal information stolen, or experiencing ‘bill shock’ as result of pirated data usage. Figures for the first half of 2014 from Alcatel-Lucent’s Kindsight… Continue reading >>

Barclays launches biometric reader for corporate clients

Barclays corporate customers will be able to log into their online accounts by scanning their fingers with biometric readers using vein authentication technology from Hitachi. From 2015, corporate customers will be able to access their accounts and authorise payments with the reader, eliminating the need for , PINs, passwords and authentication codes. According to Hitachi, vein patterns offer a stronger… Continue reading >>

Home Depot investigating suspected data breach

US DIY and home improvement merchant Home Depot has become the latest US retailer to be hit by a credit and debit card data breach, according to security blogger Brian Krebs. In the wake of data breaches affecting other major US retailers, Krebs suggests that Home Depot may have fallen victim to the same group of Russian and Ukrainian hackers… Continue reading >>

Alipay and Huawei team up for biometric mobile payments

China’s Alipay e-commerce platform has teamed up with handset manufacturer Huawei to develop a system enabling people make biometric mobile payments with their fingerprints. The system utilises the fingerprint reader of Huawei’s Mate 7 handset. Users of Alipay’s Wallet app will be able to confirm transactions with a fingerprint scan, eliminating the need for passwords. Biometric data is encrypted and… Continue reading >>

MasterCard-branded national eID card launched in Nigeria

Nigeria’s national eID card scheme has been officially launched. In the pilot phase, the Nigerian Identity Management Commission (NIMC) will issue MasterCard-branded identity cards with electronic payments functionality to 13 million Nigerians. This initiative is the largest roll-out of a biometric-based verification card with an electronic payment solution in the country and the broadest financial inclusion programme in Africa. The… Continue reading >>

JPMorgan suffers hack attack

US banking giant JPMorgan is the latest high-profile organization to suffer a hack attack, which is now being investigated by the FBI. It is reported that in mid-August, Russian hackers infiltrated and stole data from JPMorgan Chase and at least one other bank, an incident the FBI is investigating as a possible retaliation for US government-sponsored sanctions against Russia in… Continue reading >>

MasterCard and Visa targeted in Target lawsuit

The Target data breach, which compromised the data of 40 million cardholders continues to have ramifications across the industry. Following a class-action lawsuit against Target for the data breach, MasterCard and Visa are now targets of a separate class-action lawsuit related to the breach. In an order dated August 13, the US Judicial Panel on Multidistrict Litigation detailed claims that the… Continue reading >>

UPS becomes latest data breach victim

Package delivery giant UPS has become the latest company to admit that customer payment card details may be at risk after it discovered malware at 51 of its US stores. UPS says that customers who used credit and debit cards at 51 of its 4,470 franchised sites between 20 January and 11 August are at risk. Names, postal and email… Continue reading >>

EyeVerify biometric selfie tech gets backing

A tech company specialising in biometric selfies for use in banking authentication has received $6 million in funding to expand the company’s proposition. EyeVerify’s self-verification technology, Eyeprint ID, enables smartphone users to take photographs of their eyeball. EyeVerify then pattern-matches the blood vessels within the eye to unlock the user’s bank account. EyeVerify has received a second round of Series… Continue reading >>

First Annapolis highlights US EMV push

US consultancy First Annapolis has highlighted how issuers are feeling heightened pressure to migrate card portfolios to EMV as the October 2015 liability shift deadline quickly approaches. After a spate of data breaches at major merchants over the past six months, and the recent resolution of the Durbin-related litigation and announcement of cross-licensing agreements among several debit networks for use… Continue reading >>