In light of the increase in ATM fraud in India, it's essential that banks more closely monitor the security efforts of third-party service providers they increasingly are relying on to help manage their networks, says Prakash Joshi, COO at Electronic Payment Systems
Some 3.2 million Indian debit cards may have been compromised, according to the National Payments Council of India. While investigations are ongoing and several banks have reissued at-risk cards, the source of the card exposure has not been officially confirmed.
As U.S. ATM operators face MasterCard's Oct. 21 EMV liability shift deadline, a surge in explosive attacks against European ATMs is a reminder that anti-fraud features won't block all money machine crime.
A malware-wielding gang has been targeting financial firms' SWIFT software to inject fraudulent money-moving messages since at least January in "discreet campaigns" not tied to the Bangladesh Bank hack, Symantec warns.
While the banking industry in India has achieved some security maturity, India Post will be starting from scratch as it launches India Post Payments Bank. But the new bank will have the opportunity to build security into its infrastructure and processes, rather than bolting it on later.
News that a state agency in India was the victim of a ransomware attack highlights the need for public and private sector organizations to promptly take appropriate action to mitigate their risks as hackers start going after low-hanging fruit.
Want to build a cybercrime empire predicated on selling stolen payment card data? Here's how carder forum Vendetta Network blends outsourcing, partnerships and best-of-breed tools to maximize profits while minimizing risk.
Don't leap to conclusions on the basis of a new report that suggests Yahoo is preparing to warn the world that it was hacked and lost hundreds of millions of users' account credentials. Someone may simply have harvested passwords reused on other sites.
FBI Director James Comey, Facebook CEO Mark Zuckerberg and security expert Mikko Hypponen all advocate covering up your webcam as a cheap and no-brainer defense against everything from unscrupulous competitors to sextortionists.
To help financial institutions better spot attempted fraud, the SWIFT interbank messaging network plans to begin offering voluntary "daily validation reports" to customers to flag unexpected senders, recipients or payments as well as unusually large payments.
The handling of a recent data breach - the details of which are still unfolding - by Oakland, Calif.-based web services company Regpack provides a look into how the discovery and disclosure of a breach can turn into a real train wreck.
At a time when India needs its leaders to spell out practical new ways to address its evolving cybersecurity challenges, Ravi Shankar Prasad, minister of IT and law, unfortunately chose to mainly rehash ongoing efforts in a recent presentation. What should be on the to-do list?