Tag: payment systems
2 articles
Researchers Expose Zombie Card Attack Reviving Expired Visa Cards
Meet the Zombie Card Attack, a sneaky hack that brings expired Visa cards back to life - literally, allowing researchers to make a $500 purchase with a card that was supposed to be dead. By rewriting the expiration date, University of Massachusetts Amherst researchers showed how easily this loophole can be exploited.
Banks Face Growing Pressure to Justify Fraud Losses
As the Federal Reserve expands FedNow to handle higher-value transactions, banks face a daunting challenge: making split-second decisions to prevent fraud and money laundering, with transactions becoming irreversible in mere seconds. This heightened risk demands innovative solutions to safeguard against losses.