More consumers have mobile phones than have credit cards. This is true in the United States as well as globally and in all major markets. The mobile device has become ubiquitous, something most consumers feel they need so much they’d rather leave home without their wallets than their mobile phones. The majority of mobile phones
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A recently unsealed indictment from the U.S. Attorney’s offices details the charges of four Russian fraudsters and one Ukrainian about their involvement in hacking and data breaches starting back in 2005 that compromised over 160 million credit cards. The hackers have ties to Albert Gonzalez who was charged in 2010 for his involvement with the
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A fourth defendant plead guilty in early August to his participation in an identity fraud scam where over 7,000 false identities were created being used to obtain credit cards and lines of credit and ultimately causing $200 million dollars in fraud losses. Lack of proper identity authentication checks allowed the fraudsters to reuse addresses and
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In late July RSA, the security arm of EMC, acquired PassBan for an undisclosed amount and it will now be under RSA’s Identity Access Management division. Read More
The Petition Against Passwords is a public advocacy campaign that supports alternatives to usernames and passwords, which the group says are not secure, no longer sufficient for many applications and in many ways enable fraud. As the group seeks 100,000 signatures their efforts should remind organizations in the CNP channel that additional authentication is needed
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Twitter joins Google and Facebook as another internet titan that offers more security conscious consumers the ability to use two-factor authentication. They have offered this via SMS text messages before, but have recently implemented a new method that doesn’t require the consumer to receive a text message. Depending on the potential success or shortcomings of
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