Posts Tagged Credit Card
Merchant sues VISA. Biting the hand that feeds you?
Posted by brianfpennington in PCI DSS Compliance on 18/03/2013
I know that if there were no merchants there would be no credit card companies and I know that the “alternative” payments market is growing, such as PayPal and V.me, but at this time it is fair to say that consumers still favour credit cards when it comes to online payments. This is why when I […]
How the British have changed the way they spend their money over the last decade
Posted by brianfpennington in Uncategorized on 22/02/2013
The UK Payments Council has published its latest report, The Way We Pay, and brings together all the significant trends over the past decade. It shows how many cash payments are continuing to migrate to debit card, how the debit card has won the day for now, but also how it’s possible to see the […]
Consumers express their opinions of Data Breach Notifications
Posted by brianfpennington in brian pennington on 08/06/2012
Ponemon Institute have released an Experian® Data Breach Resolution sponsored survey into what consumer think about Data Breach Notifications, titled 2012 Consumer Study on Data Breach Notifications. I have made a summary of the survey below. Consumers in the Ponemon and Experian joint study believe data breach notification is important under certain conditions 85% believe notification […]
Last chance to review your PCI readiness before the holiday season
Posted by brianfpennington in PCI DSS Compliance on 12/12/2011
As we enter the busiest period of credit card spending it is probably a good time for a bit of last minute house keeping to ensure your business is meeting the Payment Card Industry Data Security Standard (PCI DSS), or as much of it as you can. First things first, DO NOT STORE CREDIT CARDS unless […]
The U.S. Leads the World in Credit Card Fraud
Posted by brianfpennington in brian pennington on 22/11/2011
In the Nilson Report: Global Credit Card Fraud Losses they reveal that the U.S. currently accounts for 47% of global credit and debit card fraud even though it generates only 27% of the total volume of purchases and cash, according to the Nilson report: Global Card Fraud. Payment card fraud losses totaled $3.56 billion last year […]
Big increase in communications fraud
Posted by brianfpennington in brian pennington on 16/11/2011
CIFAS, a UK’s Fraud Prevention Service, has reported on frauds recorded by its 260 member organisations during the 9 nine months of 2011. The report reveals a 34% increase in fraud related to communications products, when compared with the same period in 2010. CIFAS conclude that some “communications” products, for example smartphones like the iPhone handsets […]
UK Cards Association warns of growing Credit Card fraud phone scam targeting the over-60s
Posted by brianfpennington in brian pennington on 04/11/2011
The UK Cards Association has warned about an old-style phone scam that is increasingly being used by fraudsters across the UK. The scam involves unsuspecting cardholders being called and duped into handing over their debit or credit card, and revealing their PIN, by a fraudster pretending to be from their bank, card company or the police. […]
Advice for Small Businesses on how to avoid Identity theft
Posted by brianfpennington in brian pennington on 25/10/2011
The Identity Theft Council (ITC) has recently issued a press release promoting Identity Theft awareness and offered advice on how to avoid the problem. They quote from a Javelin Strategy & Research study found that fraud suffered by Small Business Owners (SMBO) totaled an $8 billion Banks, merchants and other providers absorbed at least $5.43 […]
Merchants are more concerned about their brand than PCI fines
Posted by brianfpennington in PCI DSS Compliance on 12/09/2011
A joint CyberSource and Trustwave survey has shown that nearly 70% of Merchants cited the need to “protect the brand” as the primary driver for tightening controls against hackers and other payment security risks. Only 26 percent said avoiding fines resulting from non-compliance with the Payment Card Industry Data Security Standard (PCI DSS) were the […]
9 steps to take if your credit card data is hacked
Posted by brianfpennington in brian pennington on 02/09/2011
Lisa Bertagnoli on Creditcards.com has produced a list of the 9 things you should do if your credit card is hacked/stolen/cloned or otherwise dealt with in a criminal fashion. As a checklist it contains some excellent advice, not just for credit card security but for all your data. 1. Make sure there’s really been a breach. […]
PCI DSS – updated guidelines for WiFi and new guidance on Bluetooth
Posted by brianfpennington in PCI DSS Compliance on 01/09/2011
The Wireless Special Interest Group (SIG) PCI Security Standards Council (PCI SSC) have released an Information Supplement for PCI DSS Wireless Guidelines. The update updates the PCI DSS guidance to align to version 2 of the PCI Data Security Standard and incorporates guidance for Bluetooth. All Merchants and Credit Card processors should read the document […]
Most Small Business Owners do not treat Fraud as a Top Priority – survey results
Posted by brianfpennington in brian pennington on 16/08/2011
Image via Wikipedia On the 15th August 2011 TD Bank launched the results of a survey that indicates small businesses (sub $5 million) do not have Business Fraud as their top priority, in fact only 1% of survey respondents said it was a top priority. TD Bank’s survey polled 300 small business executives in its Maine to Florida […]
The ICO judgment on Lush after the breach of 5,000 people’s bank details
Posted by brianfpennington in brian pennington on 11/08/2011
Image via Wikipedia 7 months after the disclosure of the data breach at Lush Cosmetics Ltd the Information Commissioners Office (ICO) has delivered its findings and has imposed its actions against Lush. The ICO has announced:- Cosmetics retailer Lush breached the Data Protection Act after the security of its website was compromised for a four month period, the Information […]
Serious Disconnect Between Businesses and Mobile Users
Posted by brianfpennington in brian pennington on 26/05/2011
McAfee have released their report “Mobility and Security: Dazzling Opportunities, Profound Challenges”. “Devices are no longer just consumer devices or business devices. They are both,” said Richard Power, a CyLab Distinguished Fellow at Carnegie Mellon University, the primary author of the report. “Devices are more than extensions of the computing structure, they are extensions of […]
25% of Mobile Network Operators are not PCI DSS Compliant
Posted by brianfpennington in PCI DSS Compliance on 25/05/2011
Vesta Corporation conducted a survey of Mobile Network Operators (MNOs) in the USA and Europe and discovered that over a quarter of them were non-compliant to the Payment Card Industry Data Security Standards (PCI DSS). Of equal concern are the 35% who did not know of the potential financial penalties they could face in the event of an […]
PCI Compliance Risks for Small Merchants and where they are failing
Posted by brianfpennington in PCI DSS Compliance on 12/05/2011
Trustwave have released a supplement to their 2011 Global Security Report on Payment Card Trends and Risks for Small Merchants report. According to the report, Merchants fail to achieve PCI DSS compliance in several areas with the Top 6 being: 99.2% Track / Monitor Network Access 98.4% Regularly Test Security 97.5% Maintain […]
Call Centre Security and PCI Compliance
Posted by brianfpennington in PCI DSS Compliance on 12/04/2011
Credit Card data is the Crown Jewels for hackers and the financial lifeblood of many companies. An Account Data Compromise, also known as a breach can lead to bad press and a bad reputation, you only need to Google Play.com or Lush to see the impact. With the 18th March 2011 launch of the PCI Councils […]
CyberSource Brings World’s Largest Fraud Detection Radar to Online Merchants
Posted by brianfpennington in PCI DSS Compliance on 21/03/2011
CyberSource, a Visa company (NYSE: V), today announced availability of the world’s largest real-time fraud detection radar, empowering online merchants to pinpoint fraud faster, more accurately, and with less manual intervention. This advance enables merchants to conduct more accurate analyses of their inbound orders, including comparison of those orders to the over 60 billion transactions […]
Benefits of PCI Compliance – direct and indirect
Posted by brianfpennington in PCI DSS Compliance on 14/03/2011
Many Merchants see the Payment Card Industry’s Data Security Standard (PCI DSS) as an expense they could do without. The counter argument is most businesses would struggle if nothing was done to tackle Credit Card Fraud because the Credit Card companies would need to charge Merchants a higher transaction rate to cover their losses. So, […]
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