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Hole in the Whole Card Security System

Posted by John B. Frank Saturday, May 30, 2009 0 comments
Credit Cards' Unintended Security Hole - CBS NewsCredit Cards' Unintended Security HoleRetail Realities: Why Zero Liability Programs Are a Wonderfully Early Holiday Gift to Cyber Thieves EverywhereEditor's Note:  First of all, I call it "Zero Lie Ability." because the truth is that signature debit vs. pin debit brings "nothing to the table, yet Visa pushes it over the more secure 2FA PIN debit system.  Lie Ability also has the dual meaning that the banks have "no clue" (zero) on how Visa...
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Heartland Update: 656 Institutions Impacted

Posted by John B. Frank 0 comments
Heartland Update: More than 650 Institutions Impacted: BankInfoSecurityWhile it's hard to get a handle on just how many consumers were affected by the Heartland Payment Systems (HPY) data breach, the total number of institutions now reporting card compromises is at 656.Read Entire ArticleRelated articles by Heartland Annual Report Shows Breach Effects (pindebit.blogspot.com)Heartland Reinstated to Visa's List of PCI DSS Providers (pindebit.blogspot.com)Did Heartland Make False and Misleading Statements?...
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NACS Says Interchange Reform Badly Needed

Posted by John B. Frank 0 comments
'A penny times billions adds up'Trade group (NACS) representing convenience stores and grocers upset with recent credit card fee increaseBY BILL FREEHLINGDate published: 5/29/2009An association of retailers is upset about a recent fee increase charged to merchants each time a customer uses a credit card to pay.The National Association of Convenience Stores calls last month's usage-fee increases by Visa and MasterCard "beyond outrageous." The fees, which took effect April 17, increase a merchant's...
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Cybersecurity Tsarina - ISR

Posted by John B. Frank 0 comments
In an article written by Kevin M. Nixon, he muses as towhether Melissa Hathway is the next Cybercrime Czar...Is She America’s New Cybersecurity Tsarina?May 29, 2009 by ADMIN · 2 CommentsBy Kevin M. Nixon, Information-Security-Resources.com Security EditorInformation Security Resources staff had received an advance copy of the official White House Press Release (05/29/2009)and was all ears today during President Obama’s East Room remarks onthe highly anticipated and long awaited release of the “CyberspacePolicy...
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Online Banking Under Attack!

Posted by John B. Frank Friday, May 29, 2009 0 comments
ITWeb :Online banking under attack[ Johannesburg, 29 May 2009 ] - In today's trying economic climate, it is becoming clear that every organization in every industry sector, be it financial, retail or telecommunications, is a target for cyber criminals. If they conduct banking online or host customer and supplier information, businesses must ensure they have proper security measures in place not to fall victim to these crimes.This is according to Costin Raiu, Chief Security Expert at Kaspersky Lab,...
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How to Hack an ATM Part VI

Posted by John B. Frank 0 comments
Thieves make ATM withdrawalBy JOHN LATIMERStaff Writer | Lebanon Daily NewsThieves entered a Lebanon laundromat early yesterday, muscled loose removed an ATM machine that was bolted to the floor and made off with it.Security tapes at A&S Laundromat, 230 E. Cumberland St., show two men in dark, hooded sweatshirts entering the side door of the store about 2:10 a.m. It took them just 90 seconds to shake the 400-pound machine hard enough that its four bolts broke loose from the tile floor, slide...
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E-Germany

Posted by John B. Frank 0 comments
Kaufen Sie schnell!Theprogress of e-commerce in Germany—home to Europe’s largest Internetpopulation—was relatively slow, retarded by many of the same issuesseen earlier in other countries, such as the UK and the US. Heightenedsecurity concerns and adherence to traditional payment habits on thepart of many Germans hindered the development of online selling.But the situation has changed.By the end of 2008, the GfK Groupreported that retail e-commerce sales—excluding event tickets,financial...
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Western Union Malware Attack Launched

Posted by John B. Frank 0 comments
Finextra has a story on the Western Union scam (The PIN Payments Blog told you about it on May 12th) but "their" story talks about Graham "Cluely" (a senior tech consultant at Sophos) complaining that people are "Clueless"Oh really Graham? And you just figured that out? Who Clued you in? Was it that Pareto guy?A Phunny Phishing story. Oh, and if you are one of the dumb people, please don't be offended by the graphics...just a dumb attempt on my part to be phunny.Western Union malware attack launchedWesternUnion...
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"Both Sides of the Mouth Syndrome Syndicated

Posted by John B. Frank Thursday, May 28, 2009 0 comments
Information Security Resources , an industry leading "InfoSec" blog shared the BSMS with their readers.    Both Sides of the Mouth’ Security AnalysisMay 27, 2009 by ADMIN · CommentBy John B. Frank, Marketing Strategist with HomeATM ePayment SolutionsIt was nice that Javelin Strategy and Research took the time to write about HomeATM in their analysis of Finovate Startup09, but I’m a little confused about something they say in their report.Maybe a reader might be able to clarify what they...
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Debit Card Transactions Grow 48%, Credit Cards 12.7% - RBI

Posted by John B. Frank 0 comments
Consumers prefer debit cards in slowdownConsumers prefer debit cards in slowdownBS Reporter / Mumbai May 29, 2009, 0:28 ISTThe number of debit card transactions increased by 48 per cent in financial year 2009, compared to an increase of 12.7 per cent for credit cards in the year. Similarly, debit card volumes grew by 44.6 per cent, whereas credit cards saw a volume growth of 13.7 per cent for the same period, says the Reserve Bank of India’s data.Sector experts attribute this surge in debit card...
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Emerging Bank Markets in the U.S. 2009

Posted by John B. Frank 1 comments
Emerging Bank Markets in the United States 2009Mintel, March 2009, Pages: 56DescriptionSince the last survey that we conducted of the unbanked and underbanked markets, two significant developments have taken place: the financial crisis and the election of President Barack Obama. These two events offer both good news and bad news for those looking to market to the underbanked. On the one hand, those distrustful of the banking system are now even more distrustful. On the other hand, as the majority...
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US ATMs: Rebuilding the Foundation - Aite Report

Posted by John B. Frank 0 comments
A New Report From Aite GroupUS Bank ATMs" Rebuilding the FoundationIn order to improve the overall ATM customer experience, banks must first make sure their underlying ATM technology is up-to-date. Boston, MA, May 28, 2009– A new report from Aite Group, LLC examines how the ATM channel isexpected to evolve through 2010. Based on interviews with bank ATMchannel executives at 23 of the top 80 U.S. banks by number of checkingaccounts, the report prescribes recommendations...
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Western Union Option to Receive Funds via Online Banking

Posted by John B. Frank 0 comments
Press Release Source: Western UnionWestern Union Offers Customer Option to Receive Funds via Online Banking at www.garanti.comService Launched with New Agent, Turkey’s Garanti Bank ENGLEWOOD, Colo. & ISTANBUL--(BUSINESS WIRE)--The Western Union Company (NYSE: WU - News), a worldwide leader in money transfer services, announced today the launch of a service that allows online banking customers in Turkey to receive money transfers directly into their bank accounts. The service is offered through...
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LifeLock Fraud Service Ruled "Ilegal"

Posted by John B. Frank 0 comments
Judge Rules LifeLock’s Fraud Alert Service IllegalIn a decision that has privacy advocates and others scratching theirheads, a federal judge has ruled that LifeLock has beenbreaking California law for years by placing fraud alerts on itscustomer’s credit profiles.The decision is a blow to the burgeoning identify-theft protection industry, and means that companies that experience data breaches may no longer be able to offer victims free subscriptions to such services — astandard damage-control...
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Stolen Credit Card Data Published in Blog

Posted by John B. Frank 0 comments
Stolen credit card data published in blog | The AustralianBlair Speedy | May 29, 2009Article from: The Australian VICTORIAN police are investigating a massive identity fraud involving the personal details of thousands of Australians that have been available on an internet blog site for more than a month.The data, discovered by The Australian, includes thousands of Visa, Mastercard and American Express numbers, including expiry dates, together with home addresses, phone numbers and email addresses.The...
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80% of Phishing Attacks Use Hijacked Websites

Posted by John B. Frank 0 comments
I've blogged about this subject plenty of times over the last year, and my concern is specifically targeted towards the inherent weaknesses in the username/password systems used with online banking. If a consumer is tricked/phished into providing their username/ password, then the phisher is successful. The average phishing attack results in a loss of $350 to a bank. According to research firm,Gartner, banks, online payment organizations and other financial institutions are bearing most of the...
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Gartner Says Expect Jump in Mobile Payments Users

Posted by John B. Frank 0 comments
Jump in mobile payments users this year - GartnerThe number of people around the world making payments using their mobile phones is set to soar from 43.1 million in 2008 to 73.4 million this year, a 70% rise, according to analyst house Gartner.By 2012, the company predicts the number of people making m-payments will hit 190 million - more than three per cent of total mobile users - as it becomes "mainstream."However, security concerns, an inadequate 'ecosystem' and undefined areas in banking regulations...
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