Latest opinions that Pat Carroll has shared on Finextra

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Pat Carroll

Founder/Executive Chairman

ValidSoft

Member since

17 Mar 2011

Location

London

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Pat's opinions

Security by Obscurity is the key!

2014 shocked us all into the reality that no institution or organization, no matter how big or sophisticated, was immune to being “hacked” or “breached”. Towards the end of the year, we were all numbed into submission and the shock factor resulting from the headlines that continued to dominate, was replaced with an uneasy bewilderment. Already thi...

27 January 2015 /security Information Security

Chip and Signature, a Paradise Lost

By now, most participants in the US payments industry are finally about to realize that the day of the mag stripe is doomed and that EMV, the secure payment card technology rolled out in Europe nearly a decade ago, is finally about to make its debut in the US. Incredulous as it may seem, the financial integrity of the payment card industry continu...

28 October 2014 /payments Disruption in Retail Banking

Payment Card Data Theft At The POS - Time To Knuckle Down

Recently, I wrote a piece highlighting some of the startling data released on the true costs of fraud published in a report by Lexis Nexis. This report examined the costs of fraud across a number of dimensions including channel, payment method, merchant type and location, providing a great view on the true scope of the issues now confronting the p...

13 October 2014 /security /payments Innovation in Financial Services

More Channels, More Payment Options, More Fraud

Payment fraud is one of the greatest threats to global commerce today, yet it remains one of the hardest to quantify and or course, prevent. That is why I found the recent webinar hosted by LexisNexis and Javelin Research to be so fascinating, yet chilling. The 2014 LexisNexis True Cost of Fraud webinar entitled “More Channels. More Payment Options...

23 September 2014 /payments Innovation in Financial Services

iHack Hastens Call for Multi-factor Authentication

“If only I would have known” is a phase that Jennifer Lawrence, Kate Upton and possibly as many as 100 celebrities and notable personalities are likely saying after a reported massive breach of Apple’s iCloud service resulted in the unauthorized access to, and release of, personal information and photos. While the FBI, dozens of security vendors an...

05 September 2014 /security /payments Information Security

'PSD2' a Much-Needed Step To Uniformity and Accountability

Payment Services Directive 2.0, Why “PSD2” is A Much-Needed Step Towards Uniformity and Accountability in the European Payments Industry Rules and regulations serve many purposes, from ensuring that business activities are conducted consistently and fairly, to ensuring that providers and their customers are protected from harm, intentional or oth

18 August 2014 /payments /regulation Innovation in Financial Services

The Next Target-Style Attack This Holiday Season?

Remote Access Vulnerabilities and “Backoff” PoS Malware to Lead to Potential Next Wave of Target-Style Attacks this Holiday Season Data breaches, identity theft and stolen payment card credentials are the gifts that keep on giving (or taking, depending on your perspective), just ask any of the 100+ million consumers caught up in the wave of sec...

11 August 2014 /payments Innovation in Financial Services

Securing Transactions Means More Than Just Authentication

The payments world is all abuzz about the potential of biometrics to solve many of the serious payment security issues we now face. Not only does biometric authentication – be it voice, iris or even Apple’s Touch ID finger print scanner - allow us the ability to finally kill or reduce the role of the dreaded and much maligned password, it opens up...

10 July 2014 /security /payments Innovation in Financial Services

'Trust but Verify' : Trust in Data Protection and Mobile

No matter what part of the payment industry you’re in, earning and retaining your customer’s trust is paramount. In light of numerous data breaches and even government spying, companies the world over have to work harder than ever to earn their customer’s trust –especially when it comes to protecting their personal data and privacy. This fact was ...

13 June 2014 /security Innovation in Financial Services

Chip and Skim Cards: Renewed Need for Layered Authentication

In the ongoing game of one-upmanship between hackers and payment fraud prevention technology, new research presented at the 35th IEEE Symposium on Security and Privacy suggests that the fraudsters have yet another vector to utilize, exploiting new vulnerabilities within existing implementations of EMV/Chip and Pin. The new research suggests that c...

03 June 2014 /security Innovation in Financial Services

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