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The Green Sheet Online Edition

March 12, 2018 • Issue 18:03:01

News Briefs

Editor's Note: Following are excerpts from news stories recently posted under Breaking Industry News on our home page. For links to these and other full news stories, please visit www.greensheet.com/breakingnews.php?flag=previous_breaking_news.

FS-ISAC updates API for financial data sharing

The Financial Services Information Sharing and Analysis Center released an updated version of the Durable Data API for secure, tokenized data transfer. The API and accompanying white paper are available free of charge to the industry and represent the culmination of a year-long effort to devise an advanced standard for secure data sharing.

Proposed REFER Act extends marijuana protections

Days after Attorney General Jeff Sessions' January memo that reinstated the Controlled Substances Act of 1970, the House of Representatives introduced the Restraining Excessive Federal Enforcement and Regulations of Cannabis Act (REFER), which would protect individuals and companies from federal prosecution for marijuana crimes in states that have decriminalized these activities.

Top four faster-payments contenders emerge, Mercator says

In 2017, a Federal Reserve-commissioned task force issued a call to action to make faster payments available to every consumer and business in America by 2020. While "faster payments" is a relative term and many issues are as yet unresolved, recent research by Mercator Advisory Group indicates progress is being made, especially among four faster-payments solutions with "compelling use cases."

Google Pay replacing Android Pay, Google Wallet

Google LLC disclosed Feb. 20, 2018, that the Google Pay mobile app is nearing completion. The newly branded Google Pay mobile platform will absorb the Android Pay and Google Wallet brands, broadening and consolidating their capabilities, according to company representatives.

DOJ steps up cybersecurity vigilance

Attorney General Jeff Sessions, on Feb. 20, 2018, ordered the U.S. Department of Justice to create a new Cyber-Digital Task Force. The new entity's assignment is to canvass global cyber threats and identify how federal law enforcement can more effectively thwart malicious attacks.

Travel industry fraud spikes to $1 billion

The International Air Transport Association estimates that 4.1 billion airline passengers boarded 42 million flights in 2017. Yet of the $7 billion collected to process payments during the year, fraud cost the travel industry nearly $1 billion, which IATA attributes largely to fraudulent usage of stolen, compromised or fake credit card details in the purchase of airline tickets. end of article

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