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March 20, 2015

Here are the selections Tech Talk Editors George Milner and Teri Wesley have collected from this week's tech news:
  • An entrance to fraud
  • A virtual defense
  • Covering their tracks
  • EMV transition support
  • Cost-cutting ATMs
  • Mobile banking for SMBs
  • Mobile app for the minors
  • Connected card security
  • Paying with fraud
  • Biometric fraud tech
  • Payment services unite
  • Spam, Scams & Breaches
  • Updates, Patches and Alerts
  • and on the lighter side...
An entrance to fraud
Cyber thieves continue to find ingenious ways to steal funds and data, and will take advantage of any open – or closed – door to purloin the goods. Many banks with remote and outdoor ATMs enclose the cash machines in a vestibule for the safety of customers and to protect their card transactions. Customers have to slide their credit or debit cards to gain access to the ATM, a feature that is being exploited by thieves to gain entrance to card data. Techcrunch has the details.

A virtual defense
Cybercriminals have launched massive DDoS (distributed denial of service) attacks against banks and businesses to cripple their website and shake consumer faith in the industries. In 2014, the federal government mandated that banks and other financial institutions address these mounting threats by monitoring for DDoS attacks. Domain name server provider CloudFare has launched a new Virtual DNS server that can help banks and businesses mitigate these threats, reports Threatpost.

Covering their tracks
As the deadline for implementation of EMV (Europay, MasterCard, Visa) technology in the U.S. looms, and many banks and merchants deploy the technology, cyber criminals are busy developing the tools to get around the more secure technology. A method known as browser fingerprinting is used by online merchants to block transactions previously associated with unauthorized transactions. Fraudsters are finding creative ways to cover their digital tracks, reports Krebs on Security.

EMV transition support
The EMV liability shift deadline is just around the corner, and many banks and merchants have made or are gearing up for the transition to chip-enabled cards. Fiserv wants to help ease the burden of that transition for financial institutions with the deployment of its The Card Collection™ service, an integrated, compliant and cost effective solution to EMV debit and credit card issuance. Finextra has the details.

Cost-cutting ATMs
Advances in technology are enabling consumers and businesses – including the financial industry – to do more while spending less. Banks are taking advantage of today's next-generation ATMs and the myriad services they provide to enhance branch services and make branch staff more accessible to focus on providing financial services and one-on-one customer service when conducting more complex financial transactions. ATM Marketplace has more on the benefits of today's cutting-edge ATMs.

Mobile banking for SMBs
Small businesses face their own unique challenges in today's changing technological landscape, and banks who serve these small businesses can benefit from offering customized digital banking services that meet the growing needs of this developing market. Financial services technology provider Fiserv is helping banks bring mobile banking and payment capabilities to their small business customers with the launch of its new Mobiliti Business service. ATM Marketplace has the details.

Mobile app for the minors
Mobile banking application and use has surged among the major league banks in the industry. But those in the minor league - small banks and many of the 6,000 credit unions in the U.S. - are still on the mobile banking bench due to lack of in-house resources to take them to bat. A new startup, Bankjoy, is building an innovative mobile banking app to put smaller institutions in the mobile banking game. Techcrunch has the details.

Connected card security
There is greater risk, not to mention the inconvenience, for consumers carrying multiple credit and debit cards. Startup company Stratos Inc. wants to help mitigate that risk and streamline the use of payment cards for consumers. The company has launched the industry's first all-in-one "connected" card. The Bluetooth connected Stratas card loads multiple debit, credit and gift cards onto a single, small card. Business Wire has the details.

Paying with fraud
The launch of Apple Pay in October 2014, touting the service as an easy and more secure way to pay for products and services, went viral and quickly became widely accepted by hundreds of thousands of merchants. It is becoming just as easy, and cheaper, for fraudsters to use the service to purchase online and big box ticket items, reports Krebs on Security. Apple, along with the banking industry, is dismissing the Apple Pay fraud concerns. CNN Money has the details.

Biometric fraud tech
Sometimes it feels like in the fight against fraud, we take one step forward, two steps back as fraudsters find new ways around the developing security measures banks and merchants put into place. A growing trend being seen in the banking and payments markets is biometric security. Behavioral biometrics company BioCatch has launched a real-time account fraud detection solution to catch thieves who are attempting to steal data in the act. has the details.

Payment services join unite
One of the largest payment processors in the United States has joined forces with global bitcoin payment service Bitpay to bring the cryptocurrency to businesses and organizations that would benefit from accepting bitcoin payments, reports Finextra.

Updates, Patches and Alerts...
Susan Orr

in a 2-hour
LIVE Webinar

Cybersecurity: Third Party Resilience - What the FFIEC Wants You to Know

March 30, 2015

Examiners are turning the focus of their IT examinations to Cybersecurity Preparedness, which extends to Outsourced Third Party Risk Management, Incident Response, Business Continuity, and Disaster Recovery. The FFIEC has released an update to the Business Continuity Planning Handbook adding Appendix J: Strengthening the Resilience of Outsourced Technology Services. Join Susan Orr as she provides an overview of Appendix J and discusses the areas of concern for your Outsourced Third Party relationships and resiliency as it relates to cybersecurity and regulatory concerns.

Can't attend?
Order the CD ROM of the program now.
On the lighter side ...
ATM vestibules are designed to protect customers and keep people out, but things don't always go as planned. Watch what happens when the unexpected occurs.
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