Risk & Analytics

Canada's Culture Allows It to Beat the U.S. at Fraud Prevention

We may have more in common than we let on, there are some things that I think Canadians are doing better than their counterparts, including the U.S. and that includes fraud management. more »

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Iranians Hackers Targeted Wall Street and New York Dam, U.S. Says

Hackers linked to the Iranian government launched cyber-attacks on some four dozen U.S. financial institutions and a flood-control dam above New York City in forays meant to undermine U.S.markets and national security, according to federal prosecutors. more »

New York Fed Had 'Major Lapse' in Theft, Bangladesh Says

Bangladesh's central bank has suggested the Federal Reserve Bank of New York had a "major lapse" in allowing hackers to transfer $101 million in transactions that it later flagged as suspicious, according to an internal document seen by Bloomberg. more »

Apple/FBI Dispute Sparks a Complex, But Necessary Encryption Debate

The tension between the desire of government agencies to gain more access with greater ease, and the public’s evolving perception of data privacy rights, is ongoing and writ large in the case of FBI vs. Apple, which brings the complexities regarding security technology such as encryption to light. more »

PIN in Demand as Chargebacks Mount and EMV Spreads

Many moons after the U.S. payment industry adopted a largely chip-and-signature approach to EMV instead of chip-and-PIN security that’s standard elsewhere, rising merchant chargebacks are leading some to question the wisdom of PIN-free payments. more »

Eduardo Saverin has formed a vehicle named Jumio Acquisition and has made a $3.7 million stalking-horse bid on the online identity verification company’s assets.

Facebook Cofounder Bids for ID Vendor Jumio in Bankruptcy Auction

Eduardo Saverin, a cofounder of Facebook, is set to buy the assets of Jumio in bankruptcy proceedings of the startup focused on online identity verification. more »

Amex Cuts CEO's Pay 26% to Lowest Since 2008 After Stock Slides

American Express Co. cut Chief Executive Officer Kenneth Chenault's pay 26 percent to the lowest level since 2008 after the credit-card lender's stock and profit slumped last year. more »

Will the Blockchain Replace Swift?

I made a provocative comment, as it turned out, during my keynote at a recent conference. The comment was picked up in a press article that reported I said "the coding behind virtual currency bitcoin could also prove to be enormously transformational, potentially even replacing the Swift network for interbank payments." more »

"We are making it way too easy; you don't have to be an expert to cyberattack or get into systems in this world today," said Ellen Richey, vice chairman of risk and public policy for Visa Inc.

Visa, Fed Experts Shine a Light into Data Security's Weakest 'Seams'

As government and private sectors build up their defenses against mounting cyberattacks, a sharper focus on the "risk in the seams" of payments and data networks is needed, experts say. more »

American Express Warns of Possible Third-Party Breach

American Express has filed a notice with the Attorney General in California, informing some of its cardholders that their account information may have been compromised. more »

Retailers Alter Strategies as EMV Liability Losses Mount

Merchants that postponed their EMV migration are feeling the sting of losses connected to the EMV liability shift. They are now shoring up their fraud defenses and—in some cases—speeding up their EMV-migration plans. more »

MasterCard's Vision for Biometrics Gets Closer to Reality

Biometric authentication has been "replacing" passwords for a long time, but for the most part accounts still rely more on remembered credentials than physical identifiers. more »