Cryptocurrency money laundering is increasing dramatically, being already three times greater than in 2017. And we're only half way through the year, observes Dave Jevans, Founder and CEO of CipherTrace, and chairman of the Anti-Phishing Working Group.
Government regulation is key to minimizing the misuse of cryptocurrencies for cybercrime, says Brett Johnson, a former cybercriminal who now consults on crime prevention. But regulating cryptocurrencies is no easy task, he acknowledges. Johnson will keynote ISMG's Fraud and Breach Prevention Summit in Chicago.
Leading the latest edition of the ISMG Security Report: An analysis of how distraction tactics were used during a $10 million SWIFT-related hack at Banco de Chile. Also, a wrapup of Infosecurity Europe.
Although all the major credit card brands have dropped the requirement for obtaining signatures to verify point-of-sale transactions made with EMV payment cards, they're not pushing strongly for using PINs instead, leaving that authentication decision to card issuers, says Linda Kirkpatrick of Mastercard.
Leading the latest edition of the ISMG Security Report: Our exclusive report on an Australian criminal investigation into a company that apparently swiped cryptocurrency using a software backdoor. Also, cutting through the hype on artificial intelligence and machine learning.
Compliance with the EU's General Data Protection Regulation, which is now being enforced, will be tougher for large organizations in the payments sector because they have huge volumes of data, says Swati Sharma, a security specialist at British Telecom.
As Japan continues it push toward digital transactions, it's taking steps to ensure security, including adopting the PCI Data Security Standard, says Jeremy King, international director of the PCI Security Standards Council, who offers an update.
Knowing as many details as possible about the customer, the payment and the recipient is a critical component of stopping fraud as payments become faster, says anti-fraud specialist David Barnhardt.
Credit card losses due to synthetic identity fraud exceeded $800 million in the U.S. last year, says Julie Conroy of Aite Group, who analyzes the evolving threat and offers mitigation insights.
With the rise of P2P payment networks and the U.S. working toward a real-time national payments network, the push is on to battle fraudsters. Also, attackers are hacking legitimate websites to more stealthily distribute "Gandcrab" crypto-locking ransomware.
In this in-depth interview, Daniel Cohen of RSA discusses how open banking, also known as banking as a service, will affect the fight against fraud and offers insights on the security steps banks should be taking.
Leading the latest edition of the ISMG Security Report: Assessing cryptocurrencies' role in the latest ransomware and malware attacks. Plus: Facebook's revised estimate on account details accessed by Cambridge Analytica.
As mobile payments continue to grow in South Africa, it's important that application developers build security into their apps and correctly implement tokenization standards, says Jeremy King, international director of the PCI Security Standards Council.
As the Cambridge Analytica scandal continues to unfold, Congress seeks answers from Facebook, calling on CEO Mark Zuckerberg to testify. Also in the latest edition of the ISMG Security Report: Is it possible to build a secure digital wallet for storing cryptocurrency?
Al Pascual of Javelin Strategy and Research discusses a new report that shows that while crypto wallets may be considered to be at the sharp end of payments innovation, the security vulnerabilities they face are much the same as those that already exist in digital banking and payments.
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