By John L. Guerra
GRC & Fraud Software Journal
A CreditCard.com survey shows that most banks missed the Oct. 1 deadline to implement the new Europay, Mastercard & Visa (EMV) security standard, which uses a chip and magnetic strip to prevent the theft of customer account information.
Behavioral analytics providers such as NuData Security and Guardian Analytics – as well as network and cybersecurity and fraud prevention software providers ThreatMetrix and Kount – have used the deadline to urge the adoption of their solutions by financial institutions and e-retailers like WalMart, Target, Amazon and other merchants.
USAToday reports that “only 40 percent of card holders have gotten new chip cards.”
NuData Security and Guardian Analytics describe ways behavioral analytics can protect cardholders from mobile payment fraud in our July 2015 article.