Abbey cards in net security scare
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Abbey bank cancels about 1,000 credit and debit cards after receiving a security warning over an online merchant.
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Relay attack hands baton to fraudsters Doctored payment machines could be used to lift confidential authorisation codes from Chip and PIN credit and debit cards, security researchers at Cambridge University have discovered.â¦
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Credit cards issuers may face penalty from the regulators as credit cards solicitation is not as reliable as they are said. Consumers sometimes are not given the whole information about the possibly imposed
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A major provider of credit card authorizations for Internet retailers was struggling to remain online yesterday. Authorize.net, of Bellevue, Wash., purchased this year by Lightbridge Inc. of Burlington, has been subjected since last week to ''denial of service&quot; attacks, in which vandals try to knock computers out of commission by overwhelming them with data. ''We are working diligently to minimize ...
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LONDON, August 23 (New Ratings) - Abbey National (AYN.ETR) is likely to witness a maximum of 4,500 job losses over the next three years, following its proposed Â£8 billion takeover by Banco Santander Central Hispano (BSCH).
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Why settle for just emptying an online bank account? Scammers conned both a mortgage firm and a bank to hit an IT director for Â£60,000. UK police are hunting the gang responsible for the scam, and at least nine others like it, that are estimated to have netted ID fraudsters hundreds of thousands of pounds, The Times reports.â¦
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Displacement effect Card fraud in the UK fell three per cent from Â£439.4m in 2005 to Â£428m last year, according to figures from payment association APACS released Wednesday.â¦
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Net payment system Worldpay is under attack from hackers delaying transaction times for hundreds of online retailers.
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Consumers feel passwords no longer enough protection for online transactions.
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SCOTS workers with the Abbey bank have been warned of a major jobs purge if it is taken over by a Spanish rival. Santander Central Hispano has announced it will axe 3000 jobs if its proposed Â£8.
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Abbey National admitted today that progress in recent months had been disrupted as a result of its planned takeover by Spain&#39;s largest bank.
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A security breach at TD AMERITRADE creates headaches.
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(InfoWorld) - WithÂ Internet fraud on the rise, French banks and merchants are not putting in place antifraud technology to catch bad online transactions, an official from France's central bank said Thursday. Some banks are reluctant to put into place stronger mechanisms, such as requiring customers to use one-time passwords, because of high deployment costs as well as the reluctance of customers to use it, said Marc Andries, who works in the non-cash means of payment oversight division for the Bank of France. Paradoxically, the introduction of authentication technology prompts some consumers to question the security of their bank, said Andries, who gave a presentation at Fraud World 2007 in London. Nonetheless, the rise in online banking fraud and card-not-present (CNP) fraud -- in which someone's credit-card details are used for an online transaction without the need for the physical card -- demands a solution, he said. As a result, the Bank of France is in an "intensive dialog" with financial institutions to adopt new security technology, Andries said. The Bank of France will not, however, dictate how banks should strengthen their security or what technology they should use, he said. That is in contrast with the U.S., where the Federal Financial Institutions Examination Council, which supervises U.S. financial institutions, mandated that banks implement two-factor authentication by the end of 2006. Merchants in France who conduct e-commerce transactions tolerate CNP fraud because e-commerce is soaring, and they can buy insurance to guard against losses, Andries said. "They accept it because it's part of the business," he said. CNP fraud has risen as face-to-face transaction fraud has fallen with the widespread deployment of so-called "chip and pin" technology in Europe, where consumers must enter a four-digit personal identification number in a terminal before completing a transaction. As a result, criminals have turned to CNP fraud, where the credit-card details, obtained through phishing or other scams, are used for e-commerce transactions. But that fraud can be reduced by using systems that use a combination of data to better authenticate the transaction. Security software can check the card's security code -- the three-digit number on the back of the card -- along with part of the customer's post code or house number. Consumers aren't putting much pressure on either banks or merchants since they can contest fraudulent CNP transactions, Andries said. But they don't get off that easy, since "in the end, the losses are paid by the client of the merchant through inflation, and that's not good for the central bank," Andries said.
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A security loophole at internet bank Cahoot allowed customers to view other people's accounts, a BBC investigation reveals.
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What a surprise -- credit card issuers aren't exactly playing nice.
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Credit-card transaction processing firm Authorize.Net has been hit by a series of distributed denial-of-service attacks that have caused temporary disruptions in service to some of its customers.
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Money marooned Abbey, the banking group, has been having problems with its website, which has left customers unable to administer their accounts for more than 24 hours.â¦