94% of Financial Services Executives Believe Boards have Bought into Blockchain, Synechron survey shows
Synechron Inc., the digital, business consulting and technology services provider, today reveals 89% of senior executives questioned in a survey conducted by TABB Group believe blockchain will be in everyday use in the financial services industry by 2026. The results suggest that despite various levels of action on blockchain initiatives, the majority of financial services organizations believe in the long-term, innovative potential of blockchain and are merely calculating how to take action factoring in business unit, use case and resources to achieve maximum business value.
Hitachi outed as source of Indian ATM malware infection
Hitachi Payment Systems has admitted culpability for a breach of its ATM network in India that spawned a massive recall of debit cards by the nation's banks.
Global cost of card fraud increases 29% to $40bn
Oakhall, the London-based analysis firm, estimates that the cost of card fraud for the card industry increased 29% to $40.1bn in 2015 (2014: $31bn). This was primarily driven by the continuing rise in card use, a higher proportion of online shopping and the growing sophistication of fraud criminals. The study was published in conjunction with Featurespace, the global leader in machine learning adaptive behavioural analytics fraud prevention software. For the full study see the Cost of Card Fraud Report.
42% of global transactions now EMV-compliant - EMVCo
Technical body EMVCo today publishes transaction data that reflects year-on-year growth in the number of contact and contactless card-present payments using EMV® chip technology.
Tesco Bank left itself vulnerable to fraud by using sequential card numbers - FT
Tesco Bank may have left itself open to fraud by issuing debit cards with sequential numbers, according to a report by the FT.
Tesco Bank fraudsters drained £2.5 million from customer accounts
Tesco Bank has refunded £2.5 million to 9000 customers who fell victim to a fraud that siphoned money from their current accounts over the weekend.
Debit cards to fuel global payment card expansion
Debit card numbers are growing faster than credit cards – a trend that is set to continue for many years to come, according to strategic research and consulting firm RBR.
Which? slams banks over poor security
UK consumer group Which? has slammed the country's high street banks for failing to adequately protect customers from online scams.
