IT glitch sees 600,000 RBS payments go missing

RBS has just stepped into another IT nightmare. The company, which owns the Royal Bank of Scotland, NatWest, Coutts and Ulster Bank, has admitted that 600,000 customer transactions weren’t completed last night. It hasn’t revealed the exact nature of …

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New guide standardizes terms for ATM skimming device placement

To assist in the reporting and analysis of card data compromise devices, and to set a common standard for describing their placement, the European ATM Security Team has developed a “glossary of terms” of sorts for the industry and law enforcement.

 

The new document, “Standardization of Terminology for locations of Card Data Compromise devices at ATMs,” was compiled by members of the EAST Expert Group on ATM Fraud.

 

Read more here.

Banks officially launch clearXchange real-time payments

ClearXchange, the largest bank-offered digital payments network in the U.S., today announced availability of its real-time payments product, according to a press release.

 

Bank of America, Captial One, JPMorgan, US Bank and Wells Fargo own the network and will bring bank-to-bank payments to more than 100 million account holders, according to the announcement. The banks expect to add more banks in the future.

 

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IT admin errors that lead to network downtime and data loss

Kroll Ontrack has released its most recent list of common IT administrator errors that can lead to data loss and network downtime. The findings indicate that the complexity in storage environments and sheer growth in data volume can result in serious data loss when human error strikes, leaving many organizations vulnerable to security risks and financial implications if they do not properly invest in and adhere to technology risk management policies.

 

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PCI Council publishes appendix to PCI Data Security Standard

The PCI Security Standards Council has published an appendix to the PCI Data Security Standard to help organizations make payment security part of everyday business practice.

 

“PCI DSS Designated Entities Supplemental Validation” provides additional criteria for demonstrating how PCI DSS controls are being applied continuously to protect payment data from compromise, a press release from the organization said.

 

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Tata, Fino team up for rural ATM deployment in India

Tata Communications Payment Solutions, a provider of white label ATMs, and Fino PayTech, a payment technology provider, have announced a partnership for the deployment of ATMs in India’s rural areas.

 

Under its Indicash brand, Tata will install ATMs in Fino Money Marts, the retail outlets of Fino PayTech, a news release from the companies said. Conversely, Money Mart points will be placed at existing Indicash ATM locations.

 

Read more here.