Menu
Posted: Aug 17, 2017
Comments: 1
Author: Lou Grilli

How credit unions can make their members data less valuable on the dark web.

The dark web has been in existence since the 1990’s but has become a household word lately through ads from identity protection companies that offer to monitor the dark web. The ads warn a subscription-paying customer if their data may have been compromised and put up for sale.

The dark web is where fraudsters conveniently sell breached data such as usernames and passwords, credit and debit card data, alongside complete identities, passports, drugs, guns, and worse. The dark web, and the crimes associated with it, is a big and sophisticated business. There are fraudsters that

Read more
Posted: Aug 10, 2017
Comments: 3

An update on credit or debit EMV chip cards

Fallback occurs when a credit or debit EMV chip card cannot be read at a chip terminal when inserted and is processed by swiping the mag stripe. Fallback is typically seen in a market where EMV is first being introduced. An incorrectly configured terminal, terminals that are not set up to process “chip and PIN”, terminals that have not been programmed to route transactions over some networks, and in rare cases, defective chips within the card, are all potential or legitimate reasons for a chip card to not be capable of being read properly at the terminal. In these cases permitting the cardholder to complete the transaction by swiping the mag stripe card at the terminal seems like the proper way to minimize customer inconvenience.
Read more
Posted: May 25, 2017
Comments: 0
Author: Lou Grilli

Data thieves turn to Bluetooth technology at the gas pump.

Going old school for a moment to copy an expression used by Maxwell Smart, Agent 86 for Control, who ended most shows by lamenting about the bad guys: “If only they had used their powers for good instead of evil”. And so it goes in the case of the internet of things.

Skimmers have been a source of breached credit and debit cards since before 2010. Primitive skimmers were bulky and unreliable. Later skimmers that were inserted behind the cover of the gas pump or the ATM were not easily detected. Having security tape with a warning “Please report any broken seals to the cashier“ puts the burden on the customer to be wary of, and alert for skimmers, and put a damper on the rapid growth of skimmers at the pump – that is, until the internet of things came into popularity.

Read more
Posted: Apr 19, 2017
Comments: 0
Author: Lou Grilli

The breach involved malware placed on payment systems inside Arby’s stores

Very recently another major breach of payment card data was made public, this time by Arby’s. The breach compromised more than 355,000 credit and debit cards at Arby’s 1100 corporate-owned stores nationwide.  The breach, which is estimated to have occurred between Oct. 25, 2016 and January 19, 2017, involved malware placed on payment systems inside Arby’s stores. And this comes at a time when many credit unions are still recovering from the losses and costs associated with the recent Wendy’s breach, which was also large-scale, as well as massive breaches at Target and Home Depot and several others over the last two years.
Read more
Posted: Jan 6, 2017
Comments: 0
Author: Tom Davis

CSCU's Tom Davis self grades his 2016 predictions. What grades would you give him?

At the beginning of 2016, I made several predictions about what would be happening in payments and how they would impact credit unions. With 2016 now in the rear view mirror, it is time to take a look back at what happened in 2016 and grade my predictions – the original article can be found here.

Mobile wallets

My Prediction: “MasterCard Digital Enablement Service (MDES) and Visa Digital Enablement Program (VDEP) have streamlined credit unions’ enrollment in mobile wallets.  In 2016, we expect as more mobile wallets become available from smartphone makers such as LG and HTC, this process will become even more efficient” “

How I Did: ‘B’ I correctly called the role that MDES and VDEP had in enabling credit unions to enroll in the “Pays” – by the end of the year more than half are enrolled. But I missed the mark on LG and HTC releasing their pays.

Read more
RSS
12345

search

Featured Stories