77 Results from 2017, /security
Retired Member
Among the obvious advantages of chip and PIN and contactless payments via EMV*, major weaknesses have led to the banking industry suffering serious fraud. One of these weaknesses is the insecurity of the personal account number (PAN). PAN data can be compromised during EMV transactions or by breaching merchants’ databases that store consumer card ...
19 July 2017 /security /payments
When GDPR comes into effect in May 2018, financial institutions are going to feel the impact of this legislation throughout their entire business model, including how they execute and manage Know Your Customer (KYC) processes. At the moment, we accept that if we want to open a bank account, or get insurance, we have to submit a passport or birth ce...
13 July 2017 /security /regulation
In the past day or two I’ve received a few alarming voicemails claiming potential legal actions and even threatening that the police will come to arrest me. Some claimed to be from the IRS, others were more vague. Anyone’s initial reaction is great concern – no one wants to be subject of a mysterious debt collection, a criminal investigation, or p...
11 July 2017 /security Information Security
Chris Brown CTO at Trusek
As mentioned in my previous blog there is much that's wrong with the existing payment networks, but it is always easy to criticise what others have done and rather more difficult to provide a solution to a problem. The network I envisage is modelled on the internet itself, with no central hub. Let's have a look at some defining characteristics o...
30 June 2017 /security /payments Innovation in Financial Services
“The current payment networks available to the financial institutions around the world are no longer fit for purpose.” I think that this is a statement that has been generally agreed by all those involved but let’s go through them just to be clear: As discussed in a previous blog, the card networks are expensive to join, expensive to transact on,...
23 June 2017 /security /payments Innovation in Financial Services
Mobile malware threats are very real, and growing in sophistication. On mobile, many new types of malicious software have spread via phishing, smishing (SMS based phishing), and even malicious apps disguised as legitimate apps that consumers knowingly download. For this reason, businesses need to implement device intelligence solutions that have t...
20 June 2017 /security Online Banking
Paul Irvine Director, Major Accounts UK&I at Fortinet
Security teams and IT departments at large enterprises across all industries are faced with securing against an ever expanding attack surface daily. Previously, vulnerable points of entry used to live within the organisation’s walls, where firewalls and inline security tools could protect them. But as networks have evolved to accommodate the const...
16 June 2017 /security Information Security
In the early 2000s when the internet was still young, Visa, MasterCard and the other major payment card schemes had a choice. They could create a system that made using credit/debit cards on the internet safe, or they could rely on the unguessability of the card number. As we all know: they chose the latter. In 2004, with online fraud becoming a...
16 June 2017 /security /payments Innovation in Financial Services
Robert Siciliano Security Analyst at Safr.me
A well done New York Times article recently re-introduced this topic to the masses. Being “owned” isn’t new, but the term is not becoming part of popular culture. If you use the internet or are often on social media, odds are good that you have been OWNED. Whether you are called out for a misspelling on your latest Facebook post, or you were prove...
13 June 2017 /security
Many enterprise electronic communications (eComms) applications offer an attractive proposition to businesses by delivering lower costs, more features and access to newer desktop apps. But while they might be extremely effective business tools, often they don’t provide the functionality required to meet the compliance and eDiscovery needs for orga...
02 June 2017 /security /regulation Financial Services Regulation
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