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NewsBriefs

Editor's Note: Following are excerpts from news stories recently posted under Breaking Industry compromised data being resold and
News on our home page. For links to these and other full news stories, please visit www.green- exploited at scale.
sheet.com/breakingnews.php?flag=previous_breaking_news.
Fed torpedoes move to
fully electronic checks
The Federal Reserve Board torpedoed
industry efforts to make checks a ful-
Electronic payments growth continues at healthy clip ly electronic payment option. Regu-
Electronic payments volume was up 3.8 percent, worldwide, during the third latory changes disclosed earlier this
quarter 2018 compared to the same period last year. The increase was almost month make it clear that financial in-
four times the growth in average tickets during the same period, according to stitutions cannot clear electronically
the latest SpendTrend report from First Data Corp. created items through the Reserve
Bank System. While most checks
Fed's Faster Payments Council to focus on real-world implementation start out as paper items, the majority
today clear between banks and credit
The recently formed U.S. Faster Payments Council is the Federal Reserve Bank's unions as electronic images.
latest bid to improve speed, security, efficiency, cross-border compatibility and
collaboration in payments. Developed by the Fed's Governance Framework PCI SSC updates guidance for
Formation Team (GFFT), the FPC is open to all payments industry stakehold- phone-based payments
ers, who are invited to serve on committees and work groups and have a voice
in the direction of the project, FPC members stated. Spearheaded by a PCI SSC Special In-
terest Group of call center and tech-
Experts back multifactor authentication to stem stealth attacks nology experts, Protecting Telephone-
based Payment Card Data outlines best
The 2018 holiday season has been marked by increasingly stealthy and so- practices for mitigating fraud by re-
phisticated attacks against consumers, merchants and financial institutions, moving sensitive data from scope.
security analysts noted. Bimal Gandhi, CEO at Uniken, cited the Marriott Star- Ben Rafferty, global solutions direc-
wood data security breach that recently came to light as the latest example of tor at Semafone, said the council last
issued call center guidance in 2011,
and the landscape has evolved sig-
nificantly in recent years.

Walmart accepting cash for in-
store online ordering

Walmart introduced Order and Pay, a
new in-store ordering option that en-
ables shoppers in physical store loca-
tions to order and pay for items that
aren't available in the store. Consum-
ers work with Walmart associates
on the floor to process online orders
from Walmart's Dotcom store and
then pay for the items at the physical
POS, along with other items selected
from the shelves (if any).
Fraud, ID theft on sale
this holiday season

The Dark Web is having a clearance
sale on personally identifiable infor-
mation, offering criminals a names,
addresses, dates of birth and Social
Security numbers at prices as low as
$2 per record. Bryan Lewis, president
and CEO at Intellicheck, said much
of the stolen data was vetted for ac-
curacy during a lengthy incubation
period.

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