Phishers and spammers are 'jumping on the bandwagon' following the MasterCard security breach.
Credit card giant MasterCard announced on Tuesday a new initiative aimed at fighting the growing problem of online fraud, specifically the emerging threat of phishing schemes.
More details have emerged on the cyberbreak-in at a payment processing company that exposed more than 40 million credit card accounts -- including at least 50,000 in Australia -- to fraud.
Australian retailers are sluggishly adopting credit card security standards, according to Citrix chief security officer, Kurt Roemer, but competing standards and proposed amendments to the Privacy Act will cause even greater confusion for them.
Credit card users will be given the option of entering a PIN as an alternative to signing their name to authenticate a transaction under a banking industry initiative scheduled to start today.
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