Links in “Technology”

MCX, a mobile wallet solution, discloses that it had been hacked while piloting its "CurrentC" product. [10/31/14]

Lloyds Bank in England, the country that practically invented traditional banking, has just announced it is closing 200 branches, with more consumers relying on mobile internet cited as a key driver for the decision. [10/30/14]

Are you prepared for how virtual currencies may impact your BSA monitoring requirements?  FinCEN has issued two administrative rulings that deal with virtual currencies. The first addresses virtual currency payment systems and the second addresses the application of regulations to a virtual currency trading platform. [10/28/14]

CVS and Rite Aid disabled Apple Pay in their drugstores in favor of a competing system being developed by a consortium in which they are participating. [10/27/14]

Recent high-profile cyberattacks are taking their toll on the psyche of financial institutions. Survey finds 84% of financial firms rank cyber risk as a top five concern, up from 59% earlier this year. [10/24/14]

A Norwegian company has developed a prototype of a credit card that authenticates the user via a built-in fingerprint sensor. The card would not need an on-card battery by harvesting energy from payment terminals. [10/23/14]

Staples has announced that it’s investigating a possible data breach involving credit cards at some of its stores. Although Staples has 1,800 stores nationwide, it appears that the breach may be limited to 11 stores in Pennsylvania, New York and New Jersey. [10/22/14]

Mastercard demonstrates a future of a cashless society, where touchless payment solutions can be used for such devices as parking meters, vending machines and laundromats, where the app could also permit customers to reserve a machine, let them know when it is available and when their laundry is finished, all via their smart phone. [10/22/14]

A survey of credit card holders finds that 48% of respondents are more likely to pay with cash this holiday season, because of recent security breaches. The percentage rises the lower the income and education levels. [10/22/14]

ABA offers five ways small business customers can protect themselves from corporate account takeover in this latest Cybersecurity Awareness Month installment. [10/22/14]