Mastercard Talks Securing Innovation, And Innovating Security

PYMNTS

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.

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

Consumers Are Less-Than-Secure Over Payments Security

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How secure do you feel when it comes to payments? Two-thirds of the more than 3,000 adults surveyed said they were concerned about data security, with 38 percent of respondents believing their private information may have already been exposed. Age plays a factor in these beliefs, too: More than 70 percent of those over the age of 45 reported concerns about security versus 59 percent of those aged 18 to 24. Security is making its way to the boardroom,” Kling countered.

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.

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.

Secure Payments, Generation 2.0

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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.

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.

Mastercard Taps Security Expert To Head Up Cybersecurity Solutions

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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

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.

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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Digital Money Platform Uphold Acquires JNK Securities

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Digital money platform Uphold announced that it has reached an agreement to acquire New York Stock Exchange member JNK Securities Corp. Through Uphold’s new securities division, the platform could offer sales and trading of ICO tokens and fractional equities — as well as provide other exchange services — under the oversight of the SEC and FINRA. “In If the deal is finalized, Uphold’s compliance footprint will be expanded, as well as its customer base and service offering.

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.

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

Securing Consumer Data Beyond The SSN

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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.

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.

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.

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.

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.

How ALTR Uses Blockchain Tech To Boost Enterprise Security

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In one example germane to security and payments, ALTR has emerged from four years of stealth, with $15 million in private and institutional backing and what is being billed as the first commercial software package that it says “unleashes the security benefits of blockchain.”. The field is wide open, said Sikora, noting that “it feels like circa 1995 or 1996 as it relates to the internet,” with explosive growth ahead for blockchain used in enterprise data security.

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.

Google Adds More Security, Privacy To Google Account

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Google announced last week it is overhauling its privacy and security settings service — dubbed Google Account — to make it more secure and easier to use. Several years ago, we brought our privacy and security settings together in one place to make it easier for you to choose the options that are right for you. Google Google account News privacy security & fraud What's Hot

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Latin America Tries To Tackle Its Digital Security Problem

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But the recent thefts, along with other attempted and completed cyberattacks, demonstrate why payments officials in the region are expressing fresh concern about financial security there. Discussing the recent spate of bank hacking attacks with a reporter , he said “online security hasn’t been taken seriously in Mexico’s banking sector” — which itself presents a business opportunity for firms who sell cyberattack insurance, he added.

Secure By Design: Why Privacy Must Be Baked In To IoT Devices

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If data within the Internet of Things (IoT) is not secured properly, it puts people’s overall safety in jeopardy — and it’s not just about loss of sensitive personal data. In fact, according to UL , the even greater threat is that an attacker could take over the functionality of poorly secured devices. When developing IoT technologies, she said, go-to-market time is much too late to think about security. Security isn’t the hot sauce you add on the side,” Noblanc said. “It’s

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.

Blockchain Security A Moving Target For Both Developers And Hackers

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Regardless of where blockchain makes its mark, what is certain is that corporates have to trust that a largely unfamiliar innovation will work the way it should; that means securely, efficiently and easily. Software testing in general extends to every realm where code is used, because any issues with code pertaining to any facet of technology could mean one of two things: either a bad user experience or a product that is not secure,” he stated.

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.

MetLife Charged With Misleading Investors By Mass. Securities Regulator

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MetLife was charged with making false statements to investors on Monday (June 25) by the securities regulator in Massachusetts. The Securities and Exchange Commission, as well as the New York insurance regulator, is also investigating the matter. Security & Fraud fraud investors Massachusetts Metlife News pension payments What's Hot

Going Mobile To Get Smarter On Security

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However, according to David Velez, the company’s CEO, utilizing smartphones for security means it’s especially important to protect that information, which, as the FTC points out, can be used by fraudsters to steal a user’s identity. Can a smartphone keep you and your money safe from fraud?

The DIY Approach To Retail Data Security

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In the recent instance of the XSS security vulnerabilities that befell the online shopping cart Zen Cart, for example, the company acted quickly to solve its own problem. But the fact is that things don’t always sort themselves out, effectively, in the retail security game.

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Too Much Security? There’s No Such Thing

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Retailers are retailers, not security experts. Too often, their best efforts can create friction at the point of sale for consumers, which leads to shopping cart abandonment and lost revenue, all while feeding the illusion of “too much security.”. It goes without saying that eCommerce security is paramount as cybercriminals get smarter and more creative. There’s never ‘too much’ security,” Grant said. But there can be too-intrusive security.

Homeland Security Warns Businesses About Intel Chip Vulnerability

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The Department of Homeland Security (DHS) is urging U.S. businesses to act on an alert issued by chip maker Intel regarding security flaws in its computer chips. According to a report in Reuters, the government agency warned businesses a day after Intel disclosed it has found security weaknesses in remote management software. Intel is not the only high-profile firm to warn about security issues in recent days.

Socure Secures Santander Investment

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Security & Fraud digital identity verification Santander Socure startup funding What's HotSantander InnoVentures , a FinTech venture capital fund, announced on Wednesday (June 22) that it is making a strategic investment in identity verification platform Socure. As a real-time digital identity verification solutions provider, Socure uses trusted data from a consumer’s digital footprint — the social biometrics of individuals — to confirm their identity.

Securing real-time payments with tokenization

Mobile Payments Today

For banks, direct debit fraud represents a bigger financial risk than card fraud. In particular, growing momentum for real-time payment schemes across the world is creating huge opportunities for fraudsters and placing increasing pressure on banks and clearing houses, who now have only seconds instead of days to identify fraudulent transactions

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PayPal Dodges Security Bullet

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PayPal thwarted a security vulnerability that would have enabled malicious emails to be sent from its platform thanks to its bug bounty program. Security & Fraud bug bounty Cybersecurity Hackers PayPal What's Hot

EU Tightens Online, Offline Shopping Security Standards

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The European Commission has signed off on new rules that they say will make it more secure for consumers purchasing goods and services from European Union members. 27) report by Reuters, the rules will update the European Union’s payment services law, requiring two security features for online merchants instead of a single password or just credit card details when making a purchase in person. 13, with some of the security measures not binding until September 2019.

WhatsApp Denies Security Encryption Issue

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WhatsApp may not be as secure as thought after a security issue in the messaging app has been identified that enables messages sent via encryption to be read. The security issue was identified by Tobias Boelter, a cryptography and security researcher at the University of California, Berkeley. “If WhatsApp encryption is supposed to be top-notch because it relies on generating unique security keys using the Signal protocol.

Fed Names New Payments Security Leader

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Federal Reserve System has appointed its Payments Security Strategy leader, the agency announced Friday (Dec. He will lead the Fed’s initiative to address payments fraud risk and boost the security of payments in the U.S. The position means Montgomery will chair the Secure Payments Task Force, one of several task forces the Fed has formed to promote innovation and advancement in the industry. The U.S.