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Fraud & Security
In Depth: Making The PSD2 ‘Spare Wheel’ Work In Practice
18th Apr 2018 | Written by:
Suggestions that some institutions might opt not to build a fallback access interface for third-party providers — a controversial feature of incoming EU security rules — have given rise to...
In Depth: Industry Grapples With PSD2 ‘Spare Wheel’ Dilemma
17th Apr 2018 | Written by:
Last-gasp changes to EU security rules have left account providers with a dilemma: whether to channel resources into building a top quality application programming interface (API); or split...
PSD2 And GDPR: Customer Consent Tops Regulators’ Agenda
16th Apr 2018 | Written by:
Two major UK regulators have instructed firms preparing for open banking to make consumer consent their top priority — particularly once EU-wide data protection reforms take effect next month.
PSD2: Clarity On APIs Coming Soon, Says Industry Group
13th Apr 2018 | Written by:
A Brussels-based industry group is "making headway" on efforts to provide clarity to banks, third-party providers and regulators on the standards that application programming interfaces (API) will...
Open Banking Could Be ‘Slipstream’ For Fraudsters, Experts Warn
12th Apr 2018 | Written by:
Influential industry figures in the UK have raised the alarm over the possibility of open banking innovations making it easier for fraudsters to gain access to victims’ payment accounts.
Major Bank Hits Out At PSR Fraud Strategy
10th Apr 2018 | Written by:
One of the UK’s largest banks has criticised regulatory reforms designed to protect victims of bank transfer fraud, arguing the new requirements go beyond the technological capacity of existing...
Card Data Still Top Target For Fraudsters, Says Report
6th Apr 2018 | Written by:
Payment cards remain the largest single target for cyberattackers worldwide, new research shows, although attempted fraud against website operators and technology suppliers is growing fast.
In Depth: French Senate Pushes For PSD2 Expansion
4th Apr 2018 | Written by:
French legislators are under pressure to broaden national implementation of the revised Payment Services Directive (PSD2), so that third-party access to non-payment accounts is brought under...
Confusion Reigns Over PSD2 Contactless Card Authentication Rules
3rd Apr 2018 | Written by:
Payment firms are confused by incoming EU rules on contactless payments, despite 11th-hour attempts by the European Commission to clarify when strong authentication must be applied.
Commission Official Wary Over MEP’s Fraud Plans
28th Mar 2018 | Written by:
A European Commission official has taken issue with proposals to subject firms to fraud notification rules reminiscent of data breach reporting requirements, part of incoming reforms around non...
Mastercard Seeks Strong Authentication Exemption For Recurring Payments
26th Mar 2018 | Written by:
Mastercard is hopeful that recurring card transactions will be exempt from strong authentication requirements under incoming EU reforms, but said further guidance on the issue would be helpful.
‘Redirection’ Not Banned Under PSD2, Reiterates Commission
23rd Mar 2018 | Written by:
European officials have downplayed industry fears that authenticating users of third-party providers via a "redirect" model could be outlawed by incoming security rules.
U.S. Court Accuses Online Payment Firm Of Money Laundering
22nd Mar 2018 | Written by:
U.S. federal prosecutors have taken action against an international money transfer company incorporated in the UK, accusing its owners of operating without a license while knowingly processing...
PSR Stands By Industry-Led Approach To Rising Fraud
22nd Mar 2018 | Written by:
The UK’s Payment Systems Regulator (PSR) has made it clear that it expects the banking and payments industry to lead on best practice as the authority seeks to combat growing levels of fraud.
Dutch Counter-Fraud Efforts Challenged By Shifting Payments Landscape
19th Mar 2018 | Written by:
in The Hague
Industry experts in the Netherlands have said impending legislative and technical reforms could pose fresh challenges to the country’s world-leading approach to payment fraud.
European Parliament and European Council Propose Directive on Combating Fraud and Counterfeiting of Non-Cash Means of Payment
16th Mar 2018 | Written by:
On September 13, 2017 the European Parliament and the European Council introduced a proposal for a directive on combating fraud and counterfeiting of non-cash means of payment and replacing...
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