Loyalty Magazine

Loyalty Magazine covers customer loyalty programmes & engagement, data analytics, technology solutions, social, rewards, points, transformation, relationships, CRM

Search
You are here: Home / News / Fraud & Security

Fraud & Security

SCA postponed as EBA bows to pressure

The date for the compulsory use of Strong Customer Authentication has been delayed after a maelstrom of pressure from all parties. No new date has been given. This decision does not affect the roll out of Open Banking, which is still set to take place on September 14 also, and is having its own problems.

The recent decision by the European Banking Authority (EBA) and confirmed by the European Commission that all ecommerce retailers should use Strong Customer Authentication from … [Read more...] about SCA postponed as EBA bows to pressure

Seeing deadline for strong authentication as opportunity

The recent decision by the European Banking Authority (EBA) and confirmed by the European Commission that all ecommerce retailers should use Strong Customer Authentication from September 14 is going to cause major problems for consumers and businesses alike. But isn’t this a massive opportunity for loyalty?

The requirement for SCA will apply to online shoppers whose purchase is of more than £27 in a single transaction and will require shoppers to relay codes sent to their mobile … [Read more...] about Seeing deadline for strong authentication as opportunity

BA and Marriott smarting from data penalties

8 key trends from Verizon data report

Governments have woken up to the potential that GDPR presents to move money out of private businesses and into the government Treasury pot –  so much easier than trying to make the internet giants pay taxes.

Facebook, which carelessly shared the data of up to 87 million Facebook users with Cambridge Analytica, has already been fined a fairly insignificant £500,000 by the UK government. Now the US regulators have approved a … [Read more...] about BA and Marriott smarting from data penalties

Affinion divests loyalty firm five years after cyberattack

An Irish loyalty has been sold on by its US parent, five years after a devastating cyberattack.

Loyaltybuild never recovered from the cyberattack, which put the company out of action for seven months.

In 2016, it announced 37 redundancies at its Irish HQ in Ennis, Co Clare base and lost a significant customer at the end of 2016.

LoyaltyBuild rebranded but its past stayed with it

The firm no longer has a presence in Ennis and new accounts filed by … [Read more...] about Affinion divests loyalty firm five years after cyberattack

COMMENT: Is it enough to say sorry?

COMMENT:Is it enough to say sorry?Or should data rules carry more weight?Starwood Preferred Guest account information breachedIf you are the world’s largest hotel chain, how do you recover from a data breach that has affected possibly 500 million guests? We are not just talking reputation either. This is about customer trust, loyalty and the importance of the contract you have with them. … [Read more...] about COMMENT: Is it enough to say sorry?

Crypto exchange to use rewards programme to ID customers

Crypto exchange to use rewards programme to ID customers Crypto currencies used to launder US$88.6m, says reportCriminals becoming "early adopters" of new technologyVarious stages of cybercrime explainedA cryptocurrency exchange that has been highlighted in a Wall Street Journal report as a huge channel for money laundering, is to introduce a rewards programme to gather user identities. … [Read more...] about Crypto exchange to use rewards programme to ID customers

Tesco Bank suffers first FCA cyber-crime fine

Tesco Bank suffers first FCA cyber-crime fineReputation damage to group inevitableTesco bank has been fined £16.4 million penalty for cyber hacking that occurred two years ago. This is the first cyber fine issued by the FCA in the UK. For Tesco, it is a massive hit for its reputation as a trusted retailer and will have implications for the whole organisation and even its loyalty programme membership. … [Read more...] about Tesco Bank suffers first FCA cyber-crime fine