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#Paymentcard providers that are battling for market share are introducing new services to defend and expand their client base.  New initiatives by issuers bring a better customer experience.  However, they also bring the attention of increasingly sophisticated fraudsters

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Five French citizens have been convicted of manipulating vulnerabilities in the #chipandpinsystem   with a card-switching technique that included substituting the PIN on a stolen card with a cheap piece of plastic.

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It has emerged that hackers have used a virus to steal Apple account details from 225,000 #iPhones in what is thought to be the biggest theft of its kind.

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"#Fraud is better than drugs now on the street. Easy money, less work." http://ow.ly/PTjxd #IDFraud #IdentityFraud #Identitytheft

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Is facial recognition tech really a threat to privacy?

Facebook has decided not to offer its photo-sharing app Moments in Europe because of regulator concerns over its facial recognition technology.

And earlier this week, talks between US tech firms and privacy campaigners broke down over fears about how the industry is planning to use the tech.

So why is there so much concern over facial recognition tech, and is it justified?

 http://ow.ly/OBVs4

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Not all countries are created equal when it comes to #e-commercefraud, and understanding both the specific differences and the reasons behind them, as well as the trends that those represent, is enormously valuable in enabling merchants to plan both business growth and e-commerce fraud prevention as parts in one unified whole.

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New data shows that #identityfraud was the dominant fraud threat in the first quarter of 2015. 34,151 confirmed instances of identity fraud were recorded in the first quarter of 2015. This represents a 27% increase from the same period of the previous year and accounts for just under a half (47%) of all frauds recorded in the first quarter.

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Iris-scanning technology promises to kill the password with the launch of a new smartphone that looks into users’ eyes to unlock it. #irisrecognition  

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#Tokenization   means that sensitive consumer account data never travels through the retailer systems and instead stays safely locked in the banks secure infrastructure.

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Punkey is a family of #POSmalware that infects point-of-sale systems to steal payment card information. Typically Punkey would be installed by exploiting easy-to-crack passwords used for remote access software on the POS systems or through cashiers using the POS system to browse malicious websites or open phishing emails.
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