MasterCard to boost credit card security with Smartphone’s

MasterCard, the biggest Credit Card based company, concerned about the security on Smartphone, with hacks, Stolen Credit Card, identity theft so with such Frauds most of the companies looking for the better security options. Master Card announced on this Monday that they will partnered with the Mobile technology firm Syniverse to provide more security for people, who take all transaction on their phone. Firm this move is bit different because they will the users geo location, when the user is on the move. The concept is a credit card can too be used unless it is within in the range of user’s phone. For example, if user is in California and Card is swiped in Canada, the transaction will not be performed. It happens much time when user uses their card in other countries without telling bank about their traveling. The Geo Location feature will be helpful in this case.

Hany Fam MasterCardpresident of Global Strategic Alliances said “This collaboration of two global technology leaders opens up a whole new range of possibilities for end users, ensuring a seamless payment and mobile experience. By leveraging the speed and intelligence of our global network and combining it with Geo location solutions, we are enabling your MasterCard to uniquely work where you and your phone are, anywhere in the world. With nearly 2 billion MasterCard cards in circulation, the world’s most advanced payments technology company is processing 65,000 transactions every minute, while Syniverse currently reaches more than 5 billion mobile devices globally via 1,000 mobile service providers.”

MasterCard collaborated with Syniverse to Make Phone wallets, which is a evolving technology from past few years. As enterprises know that Smartphone’s are future so they want to offer user to pay for purchased item from their android phone or iPhone only. Last year three major firms MasterCard, Visa and American Express had partnered to develop a digital Payment system by which they can increase the security using token method.

Cybereason Reveals Its Malicious Ops Detection Platform

The Main Focus of the security industry is fraud detection as it happens or prevents a hacker to break the security. Cybereason, a security startup setup by former Israeli intelligence agency members, they just commercialize their Enterprise. It is a quarrel between so many enterprises that security attack or spying on people is unexpected, company working on the technology by which one could track all step by step attack strategy of the hacker, this could lead companies to overcome the vulnerabilities in their websites. Cybereason has developed a pro-active security platform for enterprises to constantly observe system with the goal of spot hacker activities and objective, if they prepare for stole the data heist, and enable businesses to cut off the hacker before anything happen. 

Firms VP MarkTaber said “In the movies you might see somebody breaking in and then shortly thereafter running out with [corporate secrets]. But in reality there’s a long process and a whole bunch of different actions and things that these attackers are doing one they’re inside, This sort of sophistication, up until a couple of years ago, was only at the nation state level, was not at the enterprise. But now it’s really coming into the enterprise. And unfortunately enterprises are not very well equipped to discover these sorts of hacking operations as all of their skills; all of their money is on the prevention side. Malware can be a part of a malicious operation [but] we’re really looking at a series of things that a hacker or hacking operation would do to accomplish their end goal”

Mark gives an example of a malicious attack in progress that they exposed on its beta users—A anonymous huge media firm—was the event where an unknown software had installed on many users computers and then frequently used for remotely switch on the camera and microphone on computers, So many investors looking forward to invest in such innovative organization. 

here is the video which will explain that How hacking works??

Sen. Rand Paul says “User should be able to sue Tech companies for Spying”

President helpful senator Rand Paul believes that tech companies should not be allowed for legal immunity from users suing them for government spying. The Patriot Act gave telecommunication companies resistance from being sued for granting Intelligence Agencies to tap phone or fiber channels. He didn’t say much deeper about how this opinion could become a law. Tech companies are allowing intelligence agencies to sneak into user phone or computer and often chocked from speaking about the concerned cooperation or they were unaware of such surveillance of undersea cables.

Techcruch says “Administration officials are complaining about House Democrats stalling legislation that would grant immunity to any telecommunications carrier that assisted with its domestic spying program. Without that immunity cloak, the White House says, telecoms will hesitate to cooperate with such programs in the future. It's true that telecom assistance is crucial to successful electronic surveillance. But what's getting lost in all the heated rhetoric is that telecoms, under current law, already have immunity when they assist in lawful electronic surveillance. Congress specifically gave telecoms that legal cover in the Foreign Intelligence Surveillance Act. In the now-expired Protect America Act, which amended FISA, Congress also provided for telecom immunity in the course of lawful surveillance”

These companies taking precaution from fraud prevention companies but still it’s not that helpful in order to prevent NSA or any agency to sneak in. in some example tech companies rather more cooperative with agencies for letting them tap the line like Hepting v. AT&T, but Rand thinks that there is no proper evidence for such spying Scandal, which is interesting, though there isn’t any government constraint on which they collect personal data. Especially Google has to come into strong inspection for how they treat user data, despite notifying users. 

Google Privacy Policy Video

After Hacking, Targets Improves the security

Giant retailer Target is still didn’t recover from the hacking occurred last month with heavy credit card attacks. The attack affected 110 million customers worldwide, to prevent this massive attack in the future Target start taking the precaution and becoming much more security focused. The company started taking the help of Fraud Detection tools to prevent such huge hacking. The Credit card for the buying the product, will come with a small microprocessor chip, which firm claim to improvise the security up and make hacking more difficult for Cyber Criminals. Target begins this $100 million program before the attack but due to the breach the speeding up it.

Chief Operating Officer Mulligan said “For consumers, this technology differs in important ways from what is widely used in the United States today. The standard credit and debit cards we use now have a magnetic stripe containing the customer's information. When first introduced, that stripe was an innovation. But in today's world, more is needed, He added-- technology should be ready for customers on Target's REDcards by early 2015. The latest 'smart cards' have tiny microprocessor chips that encrypt the personal data shared with the sales terminals used by merchants. Why is such a change important? Even if a thief manages to steal a smart card number,it's useless without the chip.”

Consumer from UK and Canada already using these processor enabled smartcards, US customers will get this technology latter in 2015. Mulligan reported that UK credit Card fraud has cut off 67% since 2004, Canadian credit card fraud cut down to 72% in 2012. Still some security experts questioned this by saying hacker will find some other way to steal money from users. Company is very eager to have user to adopt these chip enabled smartcard to fight with credit card fraud activity.


Here is a little video says thieves selling Target Credit card info online