Homeland Security Researchers Find Security Holes In Mobile Devices

PYMNTS

Department of Homeland Security researchers have reportedly found many security vulnerabilities in mobile devices sold by U.S.-based According to the report , which cites Vincent Sritapan, a program manager at the Department of Homeland Security’ s Science and Technology Directorate, the flaws enables users “to escalate privileges and take over the device.” Researchers are expected to announce more details about the security flaw later this week.

Mastercard Talks Securing Innovation, And Innovating Security

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In financial services today, security and innovation can work with each other, and against each other. But customers’ constant demand for cutting-edge products and services is adding to the load of already heavy security burdens. For the banks and merchants serving them, the challenge is matching the great strides in connectivity with consistency of experience and security. Passwords remain commonplace, despite the evolution of security technology.

Offering Convenience Without Sacrificing Security

PYMNTS

But conducting business on connected devices is also creating new security gaps for fraudsters and other bad actors to exploit, wreaking havoc on customers and companies alike. The company exposed consumers’ full names, birthdates, addresses, Social Security numbers and even some 250,000 credit card account numbers. The problem has been forcing banks and merchants to seek out improved security and authentication capabilities to protect their customers.

RBC Takes An Intelligence-Driven Approach To Bank Security

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We’re already using AI to analyze underlying patterns in complex market environments, and we’re enhancing client security through biometrics and fraud detection algorithms,” he said. Smarter Security. Balancing Security With Simplified Experiences.

NEW REPORT: Is Security Holding Omnichannel Banking Back?

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Omni Security and Authentication. Consumers expect to do business with their bank online seamlessly, without the hassle of complicated security checks, whether through their mobile phone, smart watch, home speaker or other connected device. Around The Security And Authentication Space.

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Secure Payments, Generation 2.0

PYMNTS

Enter 3-D Secure 2.0. In a webinar with James Rendell, vice president of payment security at CA Technologies, and Paul Baker, vice president/senior business leader of enterprise security solutions at Mastercard, PYMNTS’ Karen Webster delved into just how 3-D Secure 2.0 The experience has to be consistent with how consumers want to conduct commerce digitally — and securely.”. CA Technologies’ Rendell noted that 3-D Secure 2.0 Two-point-oh.

Three success factors in security operations

Insights on Business

Financial institutions are leading the charge in building security immune systems, knowing they are most threatened. They are looking for end-to-end security operations that are flexible and scalable, data-driven and applied with automated, operational accuracy.

FitPay: Borrowing Security Across The IoT

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The proliferation of connected devices on the market can make securing each one a challenge. Even where security is sufficient, connected consumers have many devices, and the more they have, the more difficult it is to get all of them playing nicely together. Michael Orlando, COO, FitPay , says security across devices is one of the greatest obstacles the IoT will need to solve, and it’s something the tech startup has been working toward.

A Quantum Leap For Data Security

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In security, as always, time is of the essence. The emergence of a high-speed quantum internet, then, would be a way to secure the actual transmission of data, but at speeds that approach those used today via traditional methods, rendered in gigabits per second. Think of it as physics vs. algorithms, then, in a universe where the latter is secure only for some length of time, and the former is secure forever. Change sometimes comes to technology at the speed of light.

Biometrics security isn't one-size-fits-all

Mobile Payments Today

Andrew Jamieson, the director of security & technology for the identity management & security unit at UL, writes that many technologies that would be enabled by biometrics are still vulnerable to spoofs and hacking

Secure Remote Commerce, Beyond the Buzzword

PYMNTS

One standard emerging is that of Secure Remote Commerce, backed by Visa and Mastercard. Rambus CTO Chakib Bouda told Karen Webster that big change is coming via Secure Remote Commerce, though it might take a bit of time. Bouda told Webster that merchants have several methods of keeping cards on file, and there is indeed standardization in trying to keep data safe, through PCI DSS (short for Payment Card Industry Data Security Standards). Commerce changes slowly, then quickly.

MoneyGram CIO Talks Data Security

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McGurk agreed, noting why the first lesson of information security — the first consideration before one gets to technology or process — is humility. You can’t get overconfident in information security,” he said. He explained that the way MoneyGram looks at information security is to consider what is happening outside its perimeter, at the borders of its perimeter, inside its perimeter as well as what’s happening at the host level, application level and data level.

Very Good Security Raises $8.5M In Round Of Funding

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Very Good Security (VGS), a startup working to protect data, told TechCrunch on Tuesday (August 28) that it raised $8.5 Andreessen Horowitz partner Alex Rampell is joining the Very Good Security board as a result of the investment. When the sensitive information has to be moved or accessed, Very Good Security brings back the original information without the need for customers to change their code. Very Good Security makes money by charging per data record and operation.

Digital Privacy, Security Issues Take Spotlight At Congressional Hearings

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The move comes amid increasing global focus on matters related to online privacy and data security — and as the idea of regulating social media is gaining currency. In February, for instance, the Federal Trade Commission (FTC) accused the PayPal-owned Venmo payments app of misleading consumers about its security, as well as making it too difficult to change privacy settings. Data Security. Top executives from Twitter and Facebook sought to reassure U.S.

SEC: Some Crypto Coins Are Securities (Not Bitcoin)

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The Securities and Exchange Commission’s (SEC) leading authority on bitcoin, cryptocurrency and initial coin offerings (ICOs) has ruled that some well-known cryptocurrencies like bitcoin and Ethereum are not securities. However, the coins offered during initial coin offerings very likely are entirely — or mostly — securities, according to news from CNBC. As such, they can expect to come under the regulatory control of the SEC and relevant securities laws.

Matching Digital Security To Digital Services

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Today In Data Data Breaches data security digital security digital services News omnichannel Retail Today in DataConsumers are leading lives that are increasingly digitally mediated, particularly as their commerce lives are increasingly defined by multichannel interactions.

Intuit Secures Bitcoin Payment Patent

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Business software company Intuit has secured a patent for bitcoin payment processing, according to Coindesk reports on Thursday (Aug. PayPal is another company looking to secure bitcoin-related patents. The U.S. Patent and Trademark Office published the patent , which describes a method to process bitcoin payments sent via text message that includes payment amount and validation based on a virtual payer account maintained by the payment service.

How can real-time payments be secured?

Mobile Payments Today

With account-based fraud on the rise, the move from standard to real-time transactions is causing significant security challenges for central banks and clearing houses

Mastercard Taps Security Expert To Head Up Cybersecurity Solutions

PYMNTS

In a press release , the payment company said Hunt’s role will increase Mastercard security capabilities for its credit cardholders, customers, merchant and other stakeholders. The digital security ecosystem is only as strong as its weakest link,” said Ajay Bhalla, global enterprise risk and security officer at Mastercard, announcing the appointment of Hunt. “We

TRENDING: IoT’s Big Security Fail

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This rapid proliferation of Intelligence of Things (IoT) devices calls for robust infrastructure that can securely accommodate the upsurge of network traffic. Securing Smart Homes.

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Facebook’s Chief Security Officer Steps Down

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Facebook ’s chief security officer, Alex Stamos, is leaving the company this month to join Stanford University as an adjunct professor. He will also become part of a faculty working group called Information Warfare, which will examine the role of security and technology in society. In January, the majority of Stamos’ security team was moved into groups that were overseen by other executives.

SEC Investigates Facebook Again On Data Security

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The Securities and Exchange Commission is once again investigating Facebook , this time looking into whether the social media giant adequately warned investors that user data might have been illegally obtained. Facebook Cambridge Analytica data security Facebook data scandal Facebook investigation News President Trump SEC social media data What's Hot

Why Security Techniques Need To Evolve As Fast As Hackers

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These websites are so easy to hack that we couldn’t give them to adult hackers — they’d be laughed off the stage,” said Jake Braun, a former White House liaison for the Department of Homeland Security, in an interview with ABC News. Security & Fraud biometrics Hackers News Nuance security and fraud voice authentication What's HotThis year, at the annual DEF CON conference for hackers — the largest of its kind in the U.S. —

Low-Cost Mobile Card Readers Have Security Flaws

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Positive Technologies researchers Leigh-Anne Galloway and Tim Yunusov are warning that new lower-cost payment systems could hurt companies because of security flaws that could enable hackers to steal credit card data or change the value of what people are purchasing. As for the Bluetooth that many of the card readers use to connect to the device, the Positive Technologies researchers discovered they weren’t used in a secure manner when pairing the devices.

Today In Data: The Many Roads To Making Consumers Feel Secure

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Security is a complicated and thorny topic in payments and commerce, because it means different things to different consumers.

Convenience Trumps Security for Consumers

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consumers are handling the shift to EMV-compliant POS systems, the responses revealed that consumers have little incentive to choose safe and secure payment options. In a recent survey focused on how U.S.

Data Security: Car Edition. Really.

Credit Union Geek

Originally published on CUInsight.com When you hear “data security”, what comes to mind? The post Data Security: Car Edition. Articles all your base are belong to us auto loans car computers cars data security gps lending member safety privacy

The Perfect Secure Payments Storm

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The updated 3D Secure 2.0 In a recent digital discussion with Karen Webster, Michael Sass, VP Market Product Management, Security Solutions, Europe, Mastercard , and James Rendell, VP Product Management, Payment Security, CA Technologies , discussed the advantages as well as the obstacles that are still in the way. Sass says weak security challenges like passwords and knowledge-based questions (i.e. They are also far less secure than biometric alternatives.

Securing Consumer Data Beyond The SSN

PYMNTS

The Social Security number (SSN) was never meant to get this much attention. In a wide-ranging discussion, Socure CEO Sunil Madhu and PYMNTS’ Karen Webster discussed the brave new world of identity security and verification, and what those terms mean when it should be assumed that all of your data has been compromised. And social presence makes a difference, offering up a layer, or layers, of defense in the battle for secure identities.

IoT Security Solutions To Hit $6B By 2023

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According to the researcher, smart home IoT security spending will be less than 17 percent of the consumer market in 2023. In contrast, IoT smart energy security spending is predicted to reach $1 billion annually in 2023. As for concerns related to IoT, 54 percent claim the increased risks associated with connectivity and integration of IoT ecosystems is a major challenge, as are new types of IoT security measures that need to be implemented.

Selling Security

Independent Banker

Security fears about online banking may be impairing your community bank’s ability to grow demand deposit accounts. Nearly two-thirds of those who do not use mobile banking cite concerns about security issues such as data interception, phone hacking, or a lost or stolen phone.

NEW REPORT: Will Biometrics Ring In A More Secure 2017?

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In order to keep mobile customers, payments and data safe, multiple security companies recently formed partnerships designed to bolster their mobile security. Meanwhile, similarly, FirstBank announced last month that it would turn to Entersekt to help secure its iOS app.

Homeland Security Warns Consumers Of Infrastructure Attacks

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According to a news report in Reuters , in a rare move, the Department of Homeland Security and the Federal Bureau of Investigation (FBI) warned that sophisticated hackers are targeting nuclear, energy, aviation, water and critical manufacturing industries, as well as government entities. Department of Homeland Security spokesman Scott McConnell declined to tell Reuters what prompted the current government cybersecurity warning. Cyberattacks targeting U.S.

The secure digital platform for financial services innovation

Insights on Business

Quest for secure digital platforms. These implementations delivered the highest security and availability requirements for enterprise computing, and at the same time enable the innovation needs for analytics, blockchain, cloud and cognitive computing workloads.

CFPB Fines Debt Collector Security Group $5 Million

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The Consumer Financial Protection Bureau fined Security Group, the debt collector, $5 million in the first fine against a company since it hit Wells Fargo with a $1 billion penalty in April. The Wall Street Journal , citing the Consumer Financial Protection Bureau, reported that the CFPB charged Security Group with making “improper in-person and telephonic collection attempts” and “physically preventing consumers from leaving their homes and visiting and calling consumers’ places of work.”

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NEW REPORT: Why Banks Farm Out Mobile Security

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As more Americans reach for their mobile devices when making purchases, providers are looking for new ways to secure smartphones. Meanwhile, BIO-Key also had a busy week at CES, where the company unveiled a trio of new products bringing biometric security to physical devices.

SMEs’ $3B Security Blunder

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While small and microbusinesses are not known for their stellar security posture, there are new and exciting tools available to help in the detection of fraud and assist in better authentication, prevention,” said JAVELIN Research Director and Head of Fraud and Security Al Pascual in a statement. Small businesses are increasingly targeted by cyberthieves looking for easy prey. A new report from JAVELIN has uncovered the price of being an easy target.

Smart Grids Aren’t Secure, Survey Says

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A new survey from Tripwire , a global provider of security and compliance solutions for enterprises and industrial organizations, revealed that 98 percent of professionals in the IT field believe that smart cities are vulnerable to cyberattacks. Security & Fraud cyber threats Cybersecurity Smart Cities Tripwire What's Hot

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Are Connected Devices Threatening Payment Security?

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While it’s not uncommon for these Internet of Things (IoT) devices to be accessed by attackers looking for a stealthy way in, it’s also not uncommon for merchants to overlook these as a point of security vulnerability. Intel Director of Mobility and Secure Payments Michelle Tinsley noted that, oftentimes, businesses are so hyper-focused on safeguarding payment data and PCI compliance that they easily lose sight of the other places where consumer data is left unprotected.

Network Security Firm CUJO Raises More Capital

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based company whose artificial intelligence-powered software platform enables in-home network security for network operators, after a Series B funding round. CUJO’s leading edge technology will help Charter enhance its superior connected home experience, providing customers advanced security, privacy and additional control over their in-home networks,” said Andrew Ip, senior vice president of emerging technology and innovation for Charter Communications, in a statement.