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Finance Ministry: India Retailers With $7M+ Sales Must Accept Debit Cards

PYMNTS

The finance ministry in India passed a new regulation saying that companies with sales of more than ?50 50 crores (about $7 million) will have to offer customers electronic payment modes like debit cards, powered by RuPay, according to a report by LiveMint. . The new regulation went into effect on Jan.

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2015 Marriott Breach: Prelude To 2018 Cyberattack?

PYMNTS

According to a report in the Wall Street Journal citing cyber security specialists, the breach in which the personal information of as many as 500 million customers was exposed began in 2014, going undetected until September of 2018. It said it learned of it on Sept.

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Modern Bank Robbery: Addressing Cyber Fraud in Retail Financial Services

Cisco

After decades of battling credit card fraud, retail banks face a new challenge: fraudulent account takeover. The Javelin 2019 Identity Fraud Report notes that, “While existing card fraud losses dropped from $8.1 How can banks effectively combat account takeover, new account fraud, and other modern cyber security threats?

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Four 2023 U.S. Policy Predictions for Financial Services Companies

FICO

Open banking, BNPL, cybersecurity and AI will all be under the microscope for regulators and policymakers, but not all areas will see major action in 2023. regulators take a major step in addressing the emerging open banking landscape. Several groups have also called for comprehensive industry regulation. Four 2023 U.S.

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Modern Bank Robbery: Addressing Cyber Fraud in Retail Financial Services

Cisco

After decades of battling credit card fraud, retail banks face a new challenge: fraudulent account takeover. The Javelin 2019 Identity Fraud Report notes that, “While existing card fraud losses dropped from $8.1 How can banks effectively combat account takeover, new account fraud, and other modern cyber security threats?

Fraud 48
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Preparing for new regulatory requirements in payments

NCR

Of the myriad mechanisms, sectors and services that make up the global financial system, one of the fastest-growing is the payments space. From contactless cards and mobile wallets to the exciting potential of biometric data, there are all sorts of innovations having an impact on payments. ” Europe prepares for PSD2.

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Biometrics in the Future of Customer Identity Management

FICO

Generally, what is needed is a layered response where more than one factor is invoked and there is never reliance on a single security measure. Indeed, regulation such as Payment Services Directive 2 (PSD2) enshrines the need for multi-factor authentication for payment providers such as banks and credit card issuers.