Avivah Litan

Several banks in the U.S. and U.K. are deploying ‘on demand’ desktop protection software to their online banking customers, to help ward off attacks and account raids perpetrated by Zeus and other similar bank-trojans.  Traditionally, most financial institutions haven’t wanted to accept any responsibility for user desktops, but the trojan situation has gotten so bad,  [...]

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I’ve been spending some time with U.S. bankers lately and learned that good old fashion ATM skimming attacks are on the increase. And this time the attacks don’t represent one-off events where a skimmer or two are placed on a few ATM machines.  Instead, there is strong evidence of Eastern European gangs conducting well-organized and [...]

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An article in today’s American Banker “Apple’s Mobile-Pay Vision Cuts Banks out of the Picture” sheds more light on why Visa acquired CyberSource. It was not just to fight off threats from PayPal and mobile carriers cutting significantly into Visa’s share of current and future ecommerce and mobile payments.  It is also likely being done [...]

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I just returned from a fraud-related conference last week attended by some major banks, insurance companies and other industry representatives discussing the latest trends in fraud and some of the advances in tools that fight fraud. I’ve heard about the crooks compromising EMV CAP transaction signatures for online banking transactions in the UK for a few [...]

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This morning I was hit with the news that Visa acquired Cybersource, one of the largest Internet Payment Gateways, for a whopping $2 billion. This is a very unusual move – first time I know of that a card network went into the Internet Payment acquiring business. The two have worked together since 1999 on [...]

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