UK consumers' association Which? has hit out at much of the banking industry for failing to protect online customers with two-factor authentication (2FA).

1 in 4 European merchants in the retail, travel and hospitality, and digital goods sector (26 percent) has experienced data theft and the majority (61 percent) believe they are at greater risk of a data security breach today than they were a year ago, according to new benchmark data from the 2018 Global Payments Insight Survey: Merchants published by ACI Worldwide (NASDAQ: ACIW) and Ovum.

Three Mexican banks have been forced to activate contingency measures to foil attempts by hackers to infiltrate the country's real-time payments network.

Customer card data from nearly all of Pakistan's major banks has been stolen in a cyberattack, says the country's Federal Investigation Agency (FIA).

NAB and Commonwealth Bank of Australia have pulled their careers pages after reports of a malware infection and data breach at external technology supplier, PageUp People.

A group of industry stakeholders has put together a draft governance framework for a new US Faster Payments Council (FPC). The 27-member Governance Framework Formation Team (GFFT) has spent eight months working on the draft for the new council's framework and has now released it into the wild, inviting others to provide feedback over the next 60 days.

EverCompliant, the payments industry leader in online Anti-Money Laundering specializing in business cyber intelligence, announced today the launch of eKYC Discovery, a tool that addresses potential gaps in the Bank Secrecy Act and Anti-Money Laundering-mandated Know Your Customer (KYC) processes that could leave financial institutions exposed to criminal activity.

Canada's central bank has begun working with the country's six largest lenders to boost the cyber-resilience of the wholesale payments ecosystem as part of a wider effort to improve industry collaboration in the fight against hackers.

Aggregated data published by EMVCo shows that by the end of 2017, 54.6% of all cards issued globally were EMV-enabled. The number of EMV payment cards in worldwide circulation increased by 1 billion over the previous 12 months to a total of 7.1 billion.

Commonwealth Bank of Australia has apologised for a data centre failure which locked customers out of internet and mobile banking and hit card payments for most of Monday.

Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, announced today it has partnered with Rippleshot, a fraud analytics firm, to offer Card Risk OfficeSM Fraud Warning, an early breach detection solution that allows financial institutions to identify potential fraud events 30-60 days prior to network alerts.

The EU's second Payment Services Directive (PSD2) took effect on Saturday 13 January, bringing with it the start of Open Banking, however the prospect of a sudden revolution is likely to be thwarted by unresolved technical and regulatory issues and a lukewarm reception from consumers.