Risk Based Security has released the results of its Q1 2018 Data Breach QuickView Report, which shows that breaches of all types fell by more than half in the first quarter of 1018 compared with the previous year — 686, compared with 1,444 in Q1 2017.

However, the number of records compromised in the quarter — 1.4 billion — was consistent year over year, as were the types of data targeted. Also, most events were still being discovered by external parties.

Trends observed in 2017 were also evident in the first three months of 2018, the release said. The top five in both years were hacking, ATM skimming, inadvertent disclosure on the Internet, phishing and malware.

“Other than the dip in the number of data breaches reported, Q1 2018 was very much in lock step with recent quarters,” RBS Executive Vice President Inga Goddijn said in the release. “If there was a truly seismic shift in breach activity we would expect other metrics to show some signs of change as well. Given this, we think the jury is still out on whether the dip is a one-time blip or part of a larger trend.”

– atmmarketplace.com –

Building upon its global network for domestic and cross-border payments to businesses and consumers, Visa is expanding Visa Direct in Canada. Peoples Payment Solutions — working with TELUS Health and Payment Solutions — will be among the first companies in the country to implement Visa Direct’s capabilities to enable real-time payments, Visa said in an announcement.

Brian Weiner, VP and head of Product, Visa Canada, said the expansion is an important milestone in the company’s mission to transform how consumers and businesses around the world pay each other.

“Companies like Peoples Payment Solutions and TELUS Health and Payment Solutions are helping us modernize payments in industries like healthcare and insurance by creating a faster and more seamless payment experience for their customers,” Weiner said in the announcement. “Visa Direct is changing the way we use cards by reimagining payments for the digital age.”

Fund disbursements represent a major market in Canada. According to recent research by the Aite Group, fund disbursements to consumers and small businesses are an approximately CAD $1.1 trillion opportunity. The study also found that 62 percent of consumers and 96 percent of merchants would likely opt in for a real-time payment method if that option was available.

Once in market, Peoples Payment Solutions and TELUS’ Health Benefits Management platform, powered by Visa Direct, will enable push payments directly into a customer’s Visa debit account in real time. Visa said the feature will significantly speed up fund disbursements for patients who are, for example, submitting benefit claims from healthcare professionals, shortening the time to instant reimbursement versus waiting several days to a week for payout.

“Working with innovative companies like Visa and Peoples Payment Solutions allows us to lead the way in providing an even better, faster benefit claims experience for our insurance partners and, ultimately, plan members,” Luc Vilandré, VP and COO, TELUS Health and Payment Solutions, said in the announcement. “Leveraging the power of real-time technology to disburse funds instantly is far more efficient for patients and removes an unnecessary layer of complexity, enhancing the overall benefits experience.”

In addition, Visa Direct enables businesses to pay freelancers, contractors and other small businesses in real time. The platform also allows for business-to-consumer payments and person-to-person payments, which has been live in the Canadian market since 2013. Beyond Canada, the Visa Direct platform is currently available in more than 200 markets around the world.

– Source: www.pymnts.com –

South Africa’s FNB has become the nation’s first bank to roll out mini ATMs that validate users via thumbprint, according to a report by Business Tech.

FNB TouchPoint ATMs offer cash withdrawals, transfers and payments, and statement review. They also allow users to purchase mobile airtime and electricity, and perform card cancellations,.

“The TouchPoint validates a customer’s identity by scanning a fingerprint placed on the biometric reader and it can detect false fingerprints to prevent fraud, FNB points of presence CEO Lee-Anne van Zyl said in the report. “The identity of the customer is then verified with the Department of Home Affairs to ensure the self-service account opening complies with the relevant laws.”

“The introduction of biometric validation on self-service devices is an important step to making banking much more accessible to South African communities. As the use of biometric technology becomes more pervasive in the everyday life of customers, it’s important to use this technology to accelerate access to banking services.”

FNB intends to install 50 of the ATMs in branches and merchant locations in townships and rural communities over the next six months, the report said.

– Finextra –

Australia’s Commonwealth Bank has confirmed that two magnetic tapes containing transaction information for 19.8 million accounts went missing two years ago after being mishandled by a subcontractor.

The data gaff stayed under wraps for two years until Buzzfeed published a report on Thursday. After that, Commonwealth began sending emails to customers, notifying them of the incident.

The bank says it launched an investigation on May 9, 2016, after it didn’t receive certification that the tapes were destroyed. Executives opted to not inform customers after the investigation suggested that the tapes had likely been destroyed, says Angus Sullivan, Commonwealth’s acting group executive for retail banking services.

Commonwealth Bank says it notified the Office of the Australian Information Commissioner, the country’s data protection regulator, on May 20, 2016. At the time, the OAIC indicated it would take not action.

So far, Commonwealth says there’s no evidence that the information has been misused. It is continuing to monitor the affected accounts for suspicious activity.

The tapes contained customer names, addresses, account numbers and transaction details, but not passwords or PINs “that could be used to enable account fraud,” according to a statement from the bank. The transaction data on the tapes range from 2000 through early 2016.

Commonwealth also hired KPMG to conduct an independent investigation. KPMG determined that “the most likely scenario was the tapes had been disposed,” the bank says.

– govinfosecurity.com –

Don’t expect to see embedded SIM technology in your phone any time soon. The GSMA, which oversees key cellular standards, has placed eSIM spec work “on hold” while the US Department of Justice investigates the possibility of collusion between AT&T, Verizon and the GSMA to stifle the card-free technology.

The GSMA didn’t offer an explanation of why it was pausing development, and instead stressed that American eSIM users would need to “explicitly consent” to a carrier-locked eSIM (such buying a phone on contract).

All three parties have so far said they’re cooperating with the Justice Department, although Verizon previously tried to downplay it by saying it was “much ado about nothing” and just a “difference of opinion” with unnamed phone equipment makers.

The technology replaces the usual card with a chip that uses software to associate you with a given service provider. On top of freeing up room inside devices (crucial for wearables like the Apple Watch or Gear S3), it makes it much easier to switch carriers — you could sign up for a new network without even talking to another human being. And it’s that last part that reportedly has the companies scared. Many networks thrive on cultivating loyalty, whether it’s by locking you in through payment plans or just requiring that you stay in touch. If you could use an eSIM to leave in a heartbeat, carriers might lose a lot of that loyalty and would have to compete more aggressively for your business.

– engadget.com –