The PCI Security Standards Council (PCI SSC) has announced the general availability of version 1.2 of the Payment Card Industry Data Security Standard (PCI DSS). According to the Council, "this latest version is the culmination of two years of feedback and suggestions from its industry stakeholders and is designed to clarify and ease implementation of the foremost standard for cardholder account security. Version 1.2 is effective immediately and version 1.1 of the standard will sunset on Dec. 31, 2008. The updated standard and supporting documentation is available on the Council’s Web site at https://www.pcisecuritystandards.org/security_standards/pci_dss.shtml." READ MORE »

Mitek Systems has announced it has developed a version of its ImageNet Mobile Deposit application for the Apple iPhone. According to the company, its ImageNet Mobile Deposit is "the first mobile banking software that allows banks to accept paper check deposits from merchants and mobile professionals via camera-equipped mobile phones." READ MORE »

The Association for Financial Professionals late yesterday released findings from its latest 2008 AFP Short-Term Credit Access Survey indicating that "short-term credit markets have effectively seized up in recent weeks, causing companies to hoard cash and take defensive actions, including reducing capital spending, freezing hiring, considering layoffs, and delaying payments to their suppliers." READ MORE »

APACS has released its latest summary of card fraud statistics showing that total card fraud losses increased by 14 per cent in the six months to June 2008 compared with the first half of 2007. Total card fraud losses for this period were £301.7m, of which more than 40 per cent was the result of fraud outside the UK - which typically involves criminals using stolen UK card details at cash machines and retailers in countries that have yet to upgrade to chip and PIN. READ MORE »

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