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« May 23, 2004 - May 29, 2004 | Main | June 6, 2004 - June 12, 2004 »

June 05, 2004

Paper Checks Declining

David Twiddy from the Associated Press reports on the decline in usage of paper checks in the US.
Deluxe Corp., the nation's leading check printer, is closing a plant in Anniston, Ala. The company, based in Minneapolis, saw check sales drop 6.5 percent last year. It also has closed or is in the process of shuttering three other printing plants, in San Jose, Calif.; Pittsburgh; and Indianapolis. Business from those plants has been shuffled to other plants, including one in Kansas City.

June 03, 2004

Oregon Banker Patents Check Fraud Prevention Technique

The Medford, Oregon Mail Tribune reports on Brent Pearson and his just patented anti-check fraud technique. HIs technique optically obscures the bank account number information printed on checks while allowing bank-owned magnetic readers to still read the numbers correctly. READ MORE »

Pay by Touch Secures $25 Million in Financing

Pay by Touch has announced that it has closed $25 million in financing from investors led by Mobius Venture Capital and including participation from the Gordon P. Getty Family Trust and other private investors. READ MORE »

CyberSource Adds PIN-less Debit Card Support

CyberSource has announced support for the use of ATM cards for online payments without PIN's within certain specific acceptance categories. READ MORE »

E*Trade Sells ATM's to Cardtronics

E*Trade Financial has announced the sale of its ATM operations subsidiary to Cardtronics for $106 million in cash. In March, Cardtronics filed an S-1 registration statement for an initial public offering that has yet to happen.

UK Ecommerce Sales Surge

Visa EU has announced that first quarter 2004 ecommerce sales in the UK surged up 123 percent over the same period in the prior year. READ MORE »

June 02, 2004

Con Artists Using Email

Steve Alexander reports on phishing attacks in the Minneapolis Star-Tribune.

Remit2India Uses PayPal to Fast Track Remittances

The Times of India reports on how Remit2India has begun using PayPal as its instant remittance funds transfer backbone from the US to India. READ MORE »

Encorus Provides T-Mobile with Mobile Wallet

Encorus and T-Mobile have introduced Europe's first cross-border interoperable m-payments system, initially serving customers in Germany and the UK.
Uniquely, Encorus has provided T-Mobile with wallet software, transaction processing and merchant acquiring services. Merchants participating in the t-zones service include Allsports, Aral, ebookers, Germanwings, getgo, OTTO, Orion, TELTIX, and WHSmith to name just a few.

Fraud Causes Debit Card Deactivation/Reissuance

Craig Douglas reports in the Wayland (MA) Town Crier on Sovereign Bancorp's deactivation and reissuance of Visa Check debit cards for some 83,000 customers.

Threats from the Korgo Worm

Netcraft reports on the new kind of phishing threat posed by the Korgo worm.
The worm represents an alarming advance in phishing, as it forgoes the need to trick the end user into divulging details. Phishing trojans that monitor keystrokes are not new, but to date have required some form of response to an e-mail "bait." Korgo uses the LSASS vulnerability to auto-infect Windows systems that haven't applied the MS04-11 patch issued April 11.

June 01, 2004

US Bank, MoneyGram form Money Transfer Alliance

US Bank and MoneyGram have announced an alliance making US Bank MoneyGram's largest bank affiliate in the United States. READ MORE »

May 31, 2004

Feds Adopting New Approaches to E-Signatures

Florence Olsen reports in about e-signature usage by governmental agencies -- and some new approaches they're taking. READ MORE »

Update on Facial Recognition Biometrics

Barnaby Feder reports in the New York Times on facial recognition technology.
Despite growing acceptance, there is still a huge gap between the hype about the promise of face recognition technology and the results when it is put to the test.

May 30, 2004

CyberSecurity Legislation

Larry Dignan reports in Baseline on the Corporate Information Security Accountability Act of 2003, legislation introduced last fall by Rep. Adam Putnam (R-Fla.).
In the name of protecting national infrastructure, you may be asked to conduct annual security audits, produce an inventory of key assets and their vulnerabilities, carry cybersecurity insurance and even have your security measures verified by independent third parties, if the core features of the proposed legislation make it to the floor of the House.

FDIC Faulted for Weak Security

The GAO has issued a report (PDF) that is critical of security at the Federal Deposit Insurance Corporation (FDIC).


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