Page 10 - GS190801
P. 10


        Following are excerpts from news stories recently posted under Breaking   initiatives and emerging technologies. Keynote speakers
        Industry News on our home page. For links to these and other full   and panelists examined integrated payments from
        news stories, please visit  multiple perspectives.
                                                                 Lawmakers press Fed on faster payments
                                                                 The Federal Reserve has been a staunch advocate of faster
                                                                 payments, having convened an inter-industry task force
                                                                 in 2015 to devise a road map for a faster payments system
                                                                 with real-time settlement capabilities. The Fed indicated it
                                                                 doesn't necessarily want to be in charge of running a new
                                                                 faster payments system, however.
                                                                 Now, there's a push in Washington for the Fed to take
                                                                 charge, with some positioning the move as beneficial to
                                                                 consumers and small businesses. A group of lawmakers
                                                                 introduced legislation in both the House and the Senate
        Trustwave identifies, remediates                         that would instruct the Fed to build and operate a real-
        Uniguest kiosk vulnerability                             time payment system. The Payment Modernization Act of
                                                                 2019 was authored by Sens. Chris Van Hollen, D-Md., and
        Trustwave, a managed security service provider, disclosed   Elizabeth Warren, D-Mass., and Reps. Ayanna Pressley,
        that it completed a six-month remediation process with   D-Mass., and Jesus "Chuy" Garcia, D-Ill.
        Uniguest following the discovery of a software flaw in
        one of Uniguest's older kiosks.                          Capital One, Sephora fall victim to data breaches

        Originally identified by Adrian Pruteanu, senior security   As the recent data breaches of Capital One and Sephora
        researcher at Trustwave SpiderLabs, during routine       make clear, global enterprises make compelling targets for
        penetration testing, the vulnerability had the potential   today's increasingly stealthy and nimble cybercriminals.
        to  expose  guest  information  and  log-in  credentials  to   News  media  outlets  have  been  playfully  attacking  the
        hackers, if left untreated. Uniguest deploys self-attended   companies'  taglines, reframing  Capital  One's  "what's
        solutions in hotel lobbies across North America. The     in your wallet?" (a hacker!) and Sephora's "let's beauty
        machines are centrally managed and run a locked-down     together," (You first!).
        version of Windows that restricts users to basic tasks.
                                                                 Colin Bastable, CEO at Lucy Security, pointed out that data
        Facebook to pay hefty price for lax privacy controls     breach victims will need additional protections beyond
                                                                 the usual 12-month credit monitoring that compromised
        The Federal Trade Commission slapped social media        companies provide. "The Dark Web probably knows
        giant Facebook with a huge fine as part of a long-running   more about most people in North America than their
        investigation into the company’s privacy practices.      governments will publicly admit to," he said. "Employers
        According to reports in several media outlets, including   need to protect themselves by ensuring that their
        the Wall Street Journal and The New York Times, the FTC   employees are security aware."
        voted to approve a $5 billion settlement of claims arising
        from the so-called Cambridge Analytica scandal.
                                                                                 Also find us on FaceBook,
        The settlement, which would be the largest ever involving                LinkedIn & Twitter for the
        the FTC, still must be approved by the Department of
        Justice. The FTC declined to respond to The Green Sheet’s                most up-to-date stories,
        request for confirmation. But Facebook made clear in an                  can’t miss events and newest
        earnings report earlier this year that it expected the FTC’s             industry announcements.
        investigation would result in a $3 billion to $5 billion hit.
        MWAA 2019 explores changing payments ecosystem

        More than 700 payments industry attendees convened
        July 16 to 18, 2019, at Chicago’s Renaissance Schaumburg
        Convention Center Hotel for the 17th anniversary of the
        Midwest Acquirers Association Conference. A festive
        opening night party filled with games and cotton candy
        reflected a buoyant industry that continually adapts
        to  changing trends in  consumer  behavior,  regulatory

   5   6   7   8   9   10   11   12   13   14   15