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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.

A new study reveals a dramatic increase in the overall cost of cyber crime. 

Mastercard is rolling out a biometrics payments service that will kill passwords within five years.

A survey has found that that 56 percent of consumers are unaware of what an EMV or 'chip' credit card is.
 

Cyber criminals may be making the headlines, but insider fraud artists – many of them senior, trusted staff – remain the biggest crooks.

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. 

Shoppers are using a larger variety of payment options with digital and mobile payments serving as supplements to the traditional cash and card-based payments tools.

Nearly half of all credit card fraud around the world occurs in the U.S., although Americans account for just a quarter of global card volume, according to a recent Barclays report, which claims that the reason for the disproportionate fraud is that the U.S. still relies on outdated magnetic stripes, which are easy for hackers to replicate or manipulate.

Nearly 72 percent of U.S. federal actions involving employee theft in 2014 involved small businesses – organizations with fewer than 500 employees, according to the 2015 Hiscox Embezzlement Watchlist. Within that group, four of every five victim organizations had fewer than 100 employees, and more than half had fewer than 25 employees.

The requirement for financial services businesses to maintain real-time connection to the global economy impairs security precautions, said a new report.