Consumer card transactions will overtake cash transactions for the first time in 2016, according to global research firm Euromonitor International. Cash is expensive to manage and is extensively used in the underworld. “A less-cash society would be a fairer and safer place,” Kenneth Rogoff, a professor of economics at Harvard, wroteRead More
Post Tagged with: "identity theft"
The Bank Director’s 2014 Risk Practices Survey reveals some very interesting information about the risk management programs that bank boards have in place. It’s classically challenging for many banks to assess how risk management practices affect the institution. However, banks that have worked at measuring the impact of a riskRead More
The recent Target credit card scandal has colored last-minute Christmas shopping with fear — fear of security breaches and lackluster controls and privacy. No doubt, American Express should add to that fear. The federal government today slapped American Express — officially the company’s American Express Centurion Bank — with more thanRead More
LifeLock is in a hurry to get its name on Lemon Wallet — and Lemon’s name off its new property. An email went out today to Lemon Wallet users that the service is now called LifeLock Wallet and will be renamed as soon as they update their iOS or Android apps.Read More
In this era of increasing fraud, customers are rightly concerned about the safety of their financial accounts. This concern becomes problematic for financial institutions when security fears suppress use of banks’ online and mobile offerings. In the wake of last week’s exposure of a massive credit card fraud ring, customersRead More
Bob Steen, chief executive of Bridge Community Bank, takes security seriously — so seriously that his bank will be the first in the nation to implement a biometric security process for consumers created by digital identity firm TASCET. The free and optional program will be offered to customers “in aRead More
It was announced yesterday that Facebook is going to start phasing out their Facebook Credits system. If you’ve been watching my commentary over the last few years, I had entertained Facebook becoming a sort of default currency for the web because of the platform’s ubiquity. However, like many things online, users and developers collaborated to […]