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Retail Crime Survey: Retailers failing to protect themselves against fraud and cybercrime

According to the Retail Crime Survey, UK retailers have said that fraud increased by 12% year-on-year in 2013-14 and accounted for 37% of the total cost of crime during the period. The level of cyber attacks suffered by the vast majority of retail businesses either increased or remained unchanged in 2013-14, with most companies surveyed for the British Retail Consortium… Continue reading >>

Smart terminals still represent big opportunity for criminals

As the industry continues its trend toward smart terminals with integrated software for payments and other services, criminals are likewise stepping up their efforts to secure a new treasure chest of data at the point of sale. Even though payments services have made unprecedented technical advances the past few years, criminals love security gaps that can arise with new technology, making it… Continue reading >>

Retail Crime Survey – Fraud and Cyber attacks on the rise

The impact of theft on UK retailers has reached its highest level in a decade according to this year’s BRC Retail Crime Survey. The average value of each theft in-store increased by 36% to £241 per incident, helping to push the direct cost of retail crime up to £603m in 2013-14. The vast majority of respondents also reported suffering increasing… Continue reading >>

Generation Z ready for biometric security

16 to 24 year old consumers in the UK have the greatest appetite for biometric security measures and the greatest need to use them in place of traditional authentication such as passwords. Research from Visa Europe suggests this generation’s approach to existing security options is placing them at greater risk of data or financial compromise. The research reveals that Generation… Continue reading >>

Thieves hit ATMs with Black Box attack

According to the KrebsOnSecurity blog, ATM skimming attacks have focused on innovative fraud devices made to attach to the outside of compromised ATMs via a black box attack. Security experts are now warning about the emergence of a new class of skimming scams aimed at draining ATM cash deposits via a novel and complex attack. At issue is a form of… Continue reading >>

US cards will fall short on fraud as issuers shun PIN

Big US banks are steering clear of an advanced security measure used in credit cards around the world, opting for a system that is more convenient for shoppers but may leave them vulnerable to fraud. In 2015, firms ranging from J.P. Morgan Chase & Co. to Discover Financial Services are expected to roll out more than a half-billion new credit cards… Continue reading >>

FICO Acquires TONBELLER

FICO has acquired TONBELLER, a provider of financial crime and compliance solutions based in Bensheim, Germany. The transaction has closed. Although terms have not been disclosed, the transaction is not expected to have a material impact on FICO’s 2015 financial results. With this acquisition, FICO has moved firmly into the rapidly growing market for financial crime and compliance (FCC) solutions,… Continue reading >>

Gemalto completes SafeNet acquisition

Digital security specialist Gemalto has announced the final closing of the acquisition of SafeNet, a provider of data and software protection, after approval by the relevant regulatory and antitrust authorities. SafeNet will be integrated with the Gemalto Payment & Identity segment and its contribution mainly consists of platforms and services activities. ​”The acquisition of SafeNet enables us to further accelerate… Continue reading >>

Cyber Security Intelligence Index

The annual IBM Cyber Security Intelligence Index report offers a high-level overview of the major threats trending across businesses worldwide over the past year. This report will help you understand the current threat landscape by offering a detailed look at the volume of attacks, which industries are most affected, the most prevalent types of attacks and attackers, and the key… Continue reading >>

Square Cash integrates Touch ID for money transfers

mPOS player Square has announced that Square Cash, a service which enables users to make fund transfers, has incorporated the Touch ID feature in later versions of the iPhone so that users can now authenticate money transfers with their fingerprints. Square founder Jack Dorsey is an enthusiastic proponent of biometric authentication, having previously stated that Touch ID would help to… Continue reading >>