PINcept.com: June 2009

Visa Decides to Fund $.7 Billion Litigation Escrow Account

Visa Inc. Announces Decision to Fund Litigation Escrow AccountPress ReleaseSource: Visa Inc.Tuesday June 30, 2009, SAN FRANCISCO, June 30 /PRNewswire-FirstCall/ -- Visa Inc. (NYSE: V - News) today announced that the Company has decided to deposit $700 million ("Loss Funds") into the litigation escrow account previously established under the Company's retrospective responsibility plan (the "Plan"). Under the terms of the Plan, when the Company...

Posted by John B. Frank Tuesday, June 30, 2009 0 comments

MLHuillier Targets 1500 Outlets Nationwide

MLhuillier targets 1,500 outlets nationwide | The Freeman >> The Freeman Sections >> Cebu BusinessCebu BusinessMLhuillier targets 1,500 outlets nationwideBy Rhia de Pablo Updated July 01, 2009 12:00 AMCEBU, Philippines – Buoyed by the rapid success of its remittance business, Cebuano financial services company M.Lhuillier Philippines targets to open 1,500 outlets nationwide in the next two to three years to widen its ML Kwarta...

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Fidelity National Information Services Ranked Top Global Mobile Banking Vendor

I first reported this on May 6th, PIN Payments Blog: FIS Ranked #1 in Vendor Matrix by ABI Research but FIS did their press release today, so here it is in their own words:Fidelity National Information Services' Mobile Banking Solution Earns Top Ranking in Analyst SurveyFidelityNational Information Services has been ranked at the top of the latestVendor Matrix released by ABI Research. Fiserv and Sybase claimed thesecond and...

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zoompass Blog Says "Prepayed = Prepared"

Paying with ZoompassSo you’ve had a fun night out with friends. You jump in a cab, get all the way home and realize you spent all your cash and forgot to go to the ATM before you left. You’ve got one unhappy cab driver on your hands, and a very expensive ride to the nearest ATM – which of course, is never your bank.Zoompass-Prepaid-MasterCardNot to worry – instead, just Zoom your friends and ask them to cover the cab fare, then use your...

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Facebook Nabs New Payments Director from GoogleJune 29th, 2009The Facebook Platform payments and monetization ecosystem continues to grow rapidly this year, and recently, Facebook has been getting more involved. A few weeks ago, Facebook started testing integration of its own virtual currency with Platform applications, and last week Facebook enabled payment support in 14 new currencies.Now, we’ve learned that Facebook recently hired Prashant...

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Kapersky Labs Warns on ATM Skimming

Be on your guard: ATM skimming will likely grow due to poor security - News - PC AuthorityBe on your guard: ATM skimming will likely grow due to poor security: by Daniel Long on Jun 30, 2009ATM security is so poor worldwide, that many more machines are likely to be easily compromised in the future, warns KasperskyAs the growth of ATM fraud increases around the world exponentially in recent times, anti-malware researchers are keen...

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CBA Forced to Shut Down NetBank Due to Phishing

Phishing Can Be Eliminated Easily. Banks Issue Card, Banks Issue PIN, what's missing? HomeATM's PCI 2.0 Certified PIN Entry Device, which would allow users to "swipe" their card and enter their PIN, as opposed to "typing" their UserName and Password. What do you think phishers phish phor? Right, the log-in details. If consumers swiped their card and entered their PIN for online banking access (like they do...

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1 Out of 3 is Bad

Third of internet users too scared to use credit card to shop onlineAlmost a third of internet users are too frightened to hand over their credit details while shopping online, a report published by The Office of Fair Trading has found.Among the people who do shop online, 37.8 feel it's as safe as shopping in a store. That means that 62.2% don't feel secure when doing so. What makes them feel safe when shopping at a store? ...

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And Here's Why! (Card Companies Will Remain Profitable)

CardTrak.com - News - CARD Act ImpactLike retailers who mark up stuff so they can offer a big discount, credit card issuers are beginning to jack up rates and fees ahead of the new regulations that will soon take effect. Some recent examples: Chase, Wells Fargo Financial and Bank of America. Chase announced it is raising its "Balance Transfer Fee" and "Cash Advance Fee" from 3% to 5% effective next month. Chase no longer caps either fee....

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Study Says Credit Card Industry will Stay Profitable

Credit Card Industry Will Stay Profitable: Study The credit card industry will continue to provide one of the most lucrative returns of the asset classes within banks' portfolios even after new U.S. credit card rules are put in place, analysts at Keefe, Bruyette and Woods said.Read full story from ABC News - Brian Ross and the Investigative TeamRelated articles by Zemanta Did You Negotiate Down Your Credit Card Debt? (abcnews.go.c...

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Heartland Completes Phase 1 of End to End Encryption Pilot

Back in February, in a post entitled Heartland Exposes It's Own Card: I wrote: Is Heartland was going to take the position that they are a "plaintiff" rather than a "defendant" against claims from cardholders/issuers and V/MC themselves? Will they shoot back or is PCI DSS certification going to shoot down any argument that V/MC may have? Heartland Payment Systems, Bob Carr shows one of his cards. In their newly released 4th...

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How to Hack an ATM Live Onstage Pulled from Black Hat Event

Juniper Networks Gags "ATM Jackpot" Researcher- Risky BusinessAccording to Patrick Gray, at Risky.Biz, a demo, which would show Black Hat attendees how to jackpot (empty) an ATM on stage won't take place. Here's a quick blurb:Security and networking company Juniper yields to ATM vendor pressure...June 30, 2009 -- RISKY.BIZ EXCLUSIVE -- A demonstration in which security researcher Barnaby Jack would "jackpot" an ATM live on stage at...

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Max Vision Pleads Guilty to Hacking 1.8 Million Credit Card Numbers

The Butler "did not" do it as Max Butler says it was "Max Vision"...Both face 60 years...Max This is a follow-up to: PIN Debit Payments Blog: Max Vision/Blind Justice: posted last Dec 27, 2008. Max Butler, nicknamed Max Vision, now faces up to 60 years in prison after pleading guilty to hacking almost two-million credit card numbers. As I stated back in December, this has the potential for either a good book or movie script,...

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Phishing and Brandjacking Financial Brands

MarkMonitor Research Shows How Online Scammers Are Using the Financial Crisis to Prey on Consumer Trust in Leading Brands Latest Brandjacking Index Examines How Fraudsters Abuse Financial Brands SAN FRANCISCO, June 29 2009 – MarkMonitor®, the global leader in enterprise brand protection, today released the company’s latest Brandjacking Index® that studies how fraudsters are abusing major financial brand names and topical subjects like refinancing...

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Phishing Attacks Up 240% on Social Networking Sites

Report: Social Networking Phishing Attacks Up More Than 240%U.S. extends its lead as No. 1 country hosting phishing attacks, according to MarkMonitor's new brandjacking reportJun 29, 2009 | 02:39 PM By Kelly Jackson Higgins | DarkReadingSocial networks are increasingly becoming a favorite method of attack for phishers as they look for more efficient ways to reach potential victims, according to a newly released report.Overall, phishing...

Posted by John B. Frank Monday, June 29, 2009 0 comments

Commonwealth Bank's Online Web Bank Fails

Commonwealth Bank's web bank fails | ASX: CBAGlitch snarls CBA's online bank | Chris ZapponeJune 29, 2009 - 2:22PMCommonwealth Bank's web banking service NetBank failed today, in what could be a hacker attack, leaving thousands of customers unable to access their accounts via the internet.A recorded message on the bank's phone access line acknowledged the problem with NetBank, saying it was ''working to resolve this as a matter of emergency.''...

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Introducing Bank of America Merchant Services

Bank of America and First Data Form Next-Generation Payment Solutions CompanyCHARLOTTE, N.C. and DENVER, June 29 /PRNewswire/ -- Bank of America N.A. and First Data Corp. announced today the formation of a new company that will deliver next-generation payments solutions to merchants ranging from small business to commercial and corporate clients worldwide.Bank of America Merchant Services, LLC will provide clients with the most comprehensive...

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Virtual Currency Virtually Banned in China

China Cracks Down on Virtual Currency, For Real - China Journal - WSJIn the latest blow to online gamers in China, Beijing has prohibited the use of virtual money to buy real world goods.‬‪‬‪Until now, online game players who win virtual currency have been able to use it to purchase all sorts of things, including real money, giving rise to a burgeoning trade in virtual currency, valued at 10 billion to 13 billion yuan in 2008, according...

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Wincor Nixdorf Partners with Sevenval for Mobile Banking Offers

Wincor Nixdorf partners with mobile specialist for new mobile banking offersPADERBORN, Germany — Sevenval GmbH, a technology specialist in mobile Internet portals, and Wincor Nixdorf International have formed a strategic partnership, bundling their collective expertise to enable financial institutions to have access to mobile banking offerings. According to a news release, the partnership allows Sevenval to expand its international activities...

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Michael Jackson Malware Campaigns Exploit Death

Michael Jackson's death themed malware campaigns spreadingThe sudden death of Michael Jackson quickly opened a window of opportunity for cybercriminals to capitalize on. With a malicious spam campaign, blackhat SEO search results poisoning which is serving scareware within the first 100 search results for Michael Jackson’s death, and an opportunistic participant in Zango adware’s network using typosquatting, malicious activity is prone...

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Online Banking at High Risk - Kapersky

Online banking at high risk from attack that knows your bank by Daniel Long on Jun 29, 2009 There is a risk of banking websites falling prey to a new form of malicious keyboard logger, but there is a way to reduce your risk.(Yeah, Swipe, Don't Type. Pretty much eliminates keylogging doesn't it? In fact it's key to logging-in securely)Away from the physical world of ATM skimming practices, it's the online domain where criminals...

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E-Banking Wire Transfers Risky

Hackers were not so cleverAs technology soars, so too does cyber crime By: Wassayos Ngamkham Published: 29/06/2009 at 12:00 AMAspate of electronic money transfer scams has raised doubts about the security of state-of-the-art technology banking systems known as E-banking.Despite the technological advances, bank-to-bank wire transfers are still considered risky because they are vulnerable to increasingly sophisticated hackers, Crime...

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British Museum Company Says YESpay

Press ReleaseBritish Museum Company guarantees payments with high speed secure payment service from YESpay June , 2009, London – The British Museum Company has selected YESpay’s EMBOSS Payment Processing Service to provide a high speed payment service that is fully accredited by its card acquirer and compliant with the Payment Card Industry Data Security Standard (PCI DSS) across seven locations and 34 tills.The company, the commercial...

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