The risk of payment card fraud is real, driven by the momentum of eCommerce and its cashless consumerism, reliant on payment cards to perform so many transactions. However, the incidence of payment card fraud is expected to change.
It’s hard to believe that over a decade has passed since PCI DSS (Payment Card Industry Data Security Standard) was first introduced in 2004 as the information security standard for organizations that store, process or transmit cardholder data. Although it’s become a mature industry standard, two problems remain.
The National Retail Federation said it agreed with a warning from the FBI that new chip-based credit cards are safer than traditional cards but still vulnerable to fraud and need to be used with a PIN to minimize risk.
First Tech Federal Credit Union announced a pilot program with MasterCard that will enable First Tech employees to authenticate and verify transactions using facial recognition and fingerprint biometrics.
Who are the Most Influential People in Security? Find out which security leaders are making a difference in the September issue of Security magazine! Also, read about how New York is shaking up cybersecurity, changes in drone legislation, three steps to prepare for the GDPR, school surveillance savings and more.