ACA Compliance releases payment fraud risk assessment service
ACA Compliance Group (“ACA”) announced today the availability of its new payment and fraud risk assessment (“PFRA”) offering, which is designed to help firms identify and remediate vulnerabilities within payment flows in order to reduce the risk of costly fraud issues.
PCI publishes new standard for contactless mobile payments
Today the PCI Security Standards Council (PCI SSC) published a new data security standard for solutions that enable merchants to accept contactless payments using a commercial off-the-shelf (COTS) mobile device (e.g., smartphone or tablet) with near-field communication (NFC).
Shell-shocked TSB to shutter 82 branches and spend more money on IT
Fresh from a renewed attack of the gremlins on its IT infrastructure, the UK's TSB has pledged to become more digitally-focused, closing branches and investing £120 million on mobile and online channels over the next three years.
Global PCI DSS compliance plummets
Nearly two thirds of organisations around the world that accept card payments are putting customers at risk by failing to ensure full PCI DSS compliance, according to a Verizon report.
A central bank will issue a consumer-ready digital currency within five years - IBM research
Policy-makers at a number of central banks around the world are seriously considering developing and issuing a central bank digital currency (CBDC), with a consumer-ready CBDC likely to arrive in the next five years.
Globalisation of payments highlights need for new standards of governance
2020 will see a development in the standards governing the flow of money to match the increased globalisation of payment processing, according to Deloitte.
NCSC Operation Haulster flagged fraud on more than one million stolen credit cards
The National Cyber Security Centre (NCSC) has defended the UK against more than 600 cyber attacks in the past year – bringing the total number to almost 1,800, new figures show today.
The figures are contained in the NCSC’s third Annual Review, which also sets out the various ways the organisation has been protecting the public. This includes a pioneering operation to stop hundreds of thousands of people losing money to credit card fraud.
EBA sets new EU-wide deadline for payment security rules
The European Banking Authority has pushed back the deadline for the migration to Strong Customer Authentication (SCA) standards to 31 December 2020, giving national authorities a 15-month extension to implement the new rules.
