A survey published by collaboration security provider Theta Lake revealed that corporate leaders are struggling to restore decorum and compliance on collaboration platforms. The report, titled Modern Communications Survey Report: The Survey and Compliance Risks of Collaboration Tool Usage in Financial Services, found 83 percent of 100 executives surveyed are disabling collaboration features to protect sensitive data and maintain regulatory compliance, according to Stacey English, director of market intelligence at Theta Lake.
English asserted that collaboration tools are vitally important to industry leaders today and will continue to keep business communications flowing across digital and hybrid workplaces.
The FBI raided offices of PAX Technology. Reporting suggests the raid was due to allegations that PAX devices may be tied to cyberattacks on organizations in the United States and European Union. In a statement following the raid, the FBI said the search of PAX's Jacksonville, Fla., offices was “in furtherance of a federal investigation.”
It also stated the Department of Homeland Security, Customs and Border Protection Services, Naval Criminal Investigative Services and Jacksonville Sheriff’s Office participated in the search. In a statement to The Green Sheet, PAX said it “is not aware of any illegal conduct by it or its employees and is in the process of engaging counsel to assist in learning more about the events that led to the investigation.”
The PCI Security Standards Council hosted its Global Community Forum. The annual event addressed security best practices, emerging threats and pandemic-related challenges.
Held virtually, the gathering attracted nearly 3,500 attendees, who discussed information security trends and looked toward the next iteration of the Payment Card Industry Data Security Standard. Agenda highlights included presentations by Lance J. Johnson and Lauren Holloway, the council's executive director and director of data security standards, respectively, and a keynote address by best-selling author J.R. Martinez.
Plaid launched a new "ecosystem" of payments partners devised to make it easier for consumers and businesses to make digital payments funded by their bank accounts. The news comes less than a year after the U.S. Department of Justice put the kibosh on Plaid's sale to Visa. Visa withdrew its $5.3 billion offer after the U.S. Department of Justice opposed the deal on antitrust grounds.
In challenging the combination, DOJ lawyers argued that Visa had a "monopoly" on online debit payments, and that Plaid was developing a payments platform that the Visa acquisition was apt to sideline. Plaid's ecosystem will use the ACH and third parties to exchange account-to-account payments rather than using the card networks.
The National Retail Federation is predicting strong holiday sales for online and brick-and-mortar retailers exceeding last year’s holiday spend by as much as 8.5 to 10.5 percent and revenues of $843.4 to $859 billion, according to NRF president and CEO Matthew Shay.
“We all know it's been another historic year in terms of transformation and incredible growth in the retail industry, as we continue to work through both the changing behaviors of consumers, as well as the changes brought about by the pandemic, and any evolving external issues, related to supply chain, workforce, inflation and others,” Shay said.
November 2021 ushered in Crypto Literacy Month, marking a new era in cryptocurrency's journey into the mainstream.
The initiative, designed to promote education and awareness of this digital commerce option, was the brainchild of CryptoLiteracy.org, a consortium of industry insiders Coinme, CoinDesk and Digital Currency Group. Neil Bergquist, CEO and co-founder of Coinme, described the initiative as a way to champion equal access to digital currencies. "Our industry needs to do more to improve crypto literacy throughout the world," Bergquist said.
On another front, oline gift card provider GiftChill disclosed Nov. 1, 2021, that customers can now buy gift cards with cryptocurrencies, including bitcoin. Company representatives stated that transactions are secure and customers can receive weekly offers on popular cards.
This article contains excerpts from news stories recently posted under Breaking Industry News on our homepage. For links to these and other full news stories, please visit www.greensheet.com/breakingnews.php.
The Green Sheet Inc. is now a proud affiliate of Bankcard Life, a premier community that provides industry-leading training and resources for payment professionals. Click here for more information.
Notice to readers: These are archived articles. Contact names or information may be out of date. We regret any inconvenience.Prev Next