Listing of AFP News Articleshttp://www.afponline.org/ArticleRss.ashxTue, 21 May 2013 15:43:44 -0400Tue, 21 May 2013 15:43:44 -0400With payments fraud running rampant, a recent AFP webinar held by a treasury executive provided especially timely advice. Effective internal controls include exception processing, activity specific accounts and more.  http://www.afponline.org/mbr/reg/res/reg_news/AFP_Fraudwatch__Essential_Controls_for_Treasury,_Finance.htmlTue, 14 May 2013 00:00:00 -0400http://www.afponline.org/mbr/reg/res/reg_news/AFP_Fraudwatch__Essential_Controls_for_Treasury,_Finance.htmlThis week, the recent decrease in fraud incidents might be an indication that fraud is evolving, and moving to a new payments channel. Also, what do recent cybersecurity initiatives by the government mean for corporates?http://www.afponline.org/mbr/reg/res/reg_news/AFP_Fraudwatch__New_Payment_Channels_Threaten_Corporate_Cash.htmlThu, 02 May 2013 00:00:00 -0400http://www.afponline.org/mbr/reg/res/reg_news/AFP_Fraudwatch__New_Payment_Channels_Threaten_Corporate_Cash.htmlIs there truly a need to accept EMV? Executives from three major retailers recently questioned whether any merchant needs to accept the standard. The reasons they cited included the costs of implementing EMV and even the overall necessity of it.http://www.afponline.org/mbr/reg/res/reg_news/Retail_Treasurers_Question_the_Need_for_EMV.htmlMon, 29 Apr 2013 00:00:00 -0400http://www.afponline.org/mbr/reg/res/reg_news/Retail_Treasurers_Question_the_Need_for_EMV.htmlAmazon has filed a patent for an “anonymous” mobile payments system, which would allow users to pay retailers without disclosing personal information. If the service comes to fruition, it could put to rest concerns about the security of mobile payments.http://www.afponline.org/mbr/reg/res/reg_news/Mobile_Moves___Are_Anonymous_M-Payments_Coming_.htmlFri, 19 Apr 2013 00:00:00 -0400http://www.afponline.org/mbr/reg/res/reg_news/Mobile_Moves___Are_Anonymous_M-Payments_Coming_.html This month, we speak with treasurers and fraud experts and get their reactions to the 2013 Payments Fraud & Control Survey, underwritten by J.P. Morgan. Also this month, a follow-up to the CAPP Exercise, financial professionals get a big win in an appeals court ruling, the UK payments industry appears to be headed for stricter regulation, and more.http://www.afponline.org/pub/res/news/April_2013_Payments_Newsletter.htmlThu, 18 Apr 2013 00:00:00 -0400http://www.afponline.org/pub/res/news/April_2013_Payments_Newsletter.htmlThe Third Circuit Court of Appeals hit a home run empowering financial professionals in a recent ruling, by sending a clear signal that middle and senior level managers can legitimately question whether the invoices and payments, which they are charged to oversee and execute, are fraudulent and run afoul of federal law and corporate policies without fear of retaliation by their employers.http://www.afponline.org/mbr/reg/res/reg_news/Finance_Pros_Win_Big_in_Appeals_Court_Ruling.htmlWed, 17 Apr 2013 00:00:00 -0400http://www.afponline.org/mbr/reg/res/reg_news/Finance_Pros_Win_Big_in_Appeals_Court_Ruling.htmlDepending on whom you ask, processing credit card payments in the cloud is either a great leap forward for security and compliance, or a big step backward. Actually, it can be either—depending on the type of cloud you have in mind and the size of your company.http://www.afponline.org/mbr/reg/res/reg_news/Does_the_Cloud_Help_Card_Payment_Security_.htmlTue, 16 Apr 2013 00:00:00 -0400http://www.afponline.org/mbr/reg/res/reg_news/Does_the_Cloud_Help_Card_Payment_Security_.htmlOn the whole, fraudsters appear to be going after the companies with the most money and eschewing smaller targets. Even though these organizations have the resources to afford top-notch security, criminals believe they are more susceptible to being defrauded.http://www.afponline.org/mbr/reg/res/reg_news/Fraudsters_Find_Myriad_Reasons_to_Target_Large_Corporates.htmlMon, 15 Apr 2013 00:00:00 -0400http://www.afponline.org/mbr/reg/res/reg_news/Fraudsters_Find_Myriad_Reasons_to_Target_Large_Corporates.htmlCorporates should think twice before refusing their banks' security recommendations. Otherwise they could be held liable when a fraud loss occurs, if a March 18 court decision is any indicator.http://www.afponline.org/mbr/reg/res/reg_news/AFP_Fraudwatch__A_Cautionary_Tale_for_Corporates.htmlTue, 09 Apr 2013 00:00:00 -0400http://www.afponline.org/mbr/reg/res/reg_news/AFP_Fraudwatch__A_Cautionary_Tale_for_Corporates.htmlThe Financial Sharing and Analysis Center (FS-ISAC) conducted the latest Cyber Attack against Payment Processes (CAPP) Exercise on March 12-13 and 19-20, putting 67 corporate participants’ cybersecurity preparedness to the test.http://www.afponline.org/pub/res/news/Cyberattack_Exercise_Tests_Treasurers%E2%80%99_Disaster_Preparedness.htmlTue, 02 Apr 2013 00:00:00 -0400http://www.afponline.org/pub/res/news/Cyberattack_Exercise_Tests_Treasurers%E2%80%99_Disaster_Preparedness.htmlThis week, we look at the broader implications of a major DDoS attack that disrupted Internet services for millions of Europeans. Also, a new information sharing center launches in the UK, and Chief Justice John Roberts gets hit with card fraud.http://www.afponline.org/mbr/reg/res/reg_news/AFP_Fraudwatch__Massive_DDoS_Attack_Disrupts_Europe.htmlMon, 01 Apr 2013 00:00:00 -0400http://www.afponline.org/mbr/reg/res/reg_news/AFP_Fraudwatch__Massive_DDoS_Attack_Disrupts_Europe.htmlThis week, we look at a new report from J.P. Morgan that discusses cybersecurity best practices and trends. Also this week, banks in Canada and South Korea are hit with DDoS attacks, and FinCEN applies money laundering rules to Bitcoins.http://www.afponline.org/mbr/reg/res/reg_news/AFP_Fraudwatch__Cybersecurity_Best_Practices_for_Corporates.htmlTue, 26 Mar 2013 00:00:00 -0400http://www.afponline.org/mbr/reg/res/reg_news/AFP_Fraudwatch__Cybersecurity_Best_Practices_for_Corporates.htmlPresident Obama recently signed an executive order on cybersecurity, and issued Presidential Policy Directive (PPD) 21, which revokes the 10-year-old Homeland Security Presidential Directive (HSPD) 7.  Treasurers, whose firms have seemingly fended off hackers by themselves, can take comfort in knowing that the federal government is starting to coordinate its efforts inside the Beltway and with the private sector.http://www.afponline.org/mbr/reg/res/reg_news/Obama_Cyber_Executive_Order_Stirs_Things_Up.htmlWed, 20 Mar 2013 00:00:00 -0400http://www.afponline.org/mbr/reg/res/reg_news/Obama_Cyber_Executive_Order_Stirs_Things_Up.htmlThis week, a look at the Genesco/Visa Lawsuit, which marks the first time that a retailer has sued a credit card company for losses related to fraud. Also, President Obama meets with top CEOs to discuss cybersecurity, a new plan is unveiled that could allow the CIA and NSA to access the FinCEN database, and six major banks get hit with DDoS attacks.http://www.afponline.org/mbr/reg/res/reg_news/AFP_Fraudwatch__Are_PCI_Compliance_Fines_Fair_.htmlSun, 17 Mar 2013 00:00:00 -0400http://www.afponline.org/mbr/reg/res/reg_news/AFP_Fraudwatch__Are_PCI_Compliance_Fines_Fair_.htmlA majority of organizations experienced actual or attempted payments fraud last year, but the incidence of fraud decreased for the third straight year, according to the 2013 AFP Payments Fraud and Control Survey, underwritten by J.P. Morgan.  The positive trend is the result of corporate migration to electronic payment methods and a range of fraud mitigation strategies.http://www.afponline.org/pub/res/news/2013_Payments_Fraud_Survey__Fraud_Incidents_Decline.htmlWed, 13 Mar 2013 00:00:00 -0400http://www.afponline.org/pub/res/news/2013_Payments_Fraud_Survey__Fraud_Incidents_Decline.htmlThis week, AFP Fraudwatch speaks with Michael Leiter, former director of the National Counterterrorism Center (NCTC) and a speaker at the upcoming CTC Corporate Treasurers Forum. Leiter shares his views on cyber risk, one of the most critical threats to companies expanding globally.http://www.afponline.org/mbr/reg/res/reg_news/AFP_Fraudwatch__Treasury_Weighs_Global_Expansion,_Cyber_Risk.htmlTue, 12 Mar 2013 00:00:00 -0400http://www.afponline.org/mbr/reg/res/reg_news/AFP_Fraudwatch__Treasury_Weighs_Global_Expansion,_Cyber_Risk.htmlRecently on AFP’s discussion list corporate treasury and finance professionals discussed fraud prevention.http://www.afponline.org/mbr/reg/res/reg_news/Best_Practices__Fraud_Prevention.htmlMon, 11 Mar 2013 00:00:00 -0400http://www.afponline.org/mbr/reg/res/reg_news/Best_Practices__Fraud_Prevention.htmlThis week, we look at an emergency patch Oracle has issued to fix two security Java vulnerabilities that could leave corporate treasury groups and their companies vulnerable to hackers. Also this week, debit card fraud skimming losses on Canada’s Interac network hit a new low, and China claims that most of the hacks on two of its military websites came from the U.S.http://www.afponline.org/mbr/reg/res/reg_news/AFP_Fraudwatch__Oracle_Issues_Emergency_Patch.htmlTue, 05 Mar 2013 00:00:00 -0400http://www.afponline.org/mbr/reg/res/reg_news/AFP_Fraudwatch__Oracle_Issues_Emergency_Patch.htmlThis week: Mandiant's explosive cyberespionage report, a DDoS attack that aided in the theft of $900,000, an argument on why EMV won't solve all of our card fraud problems, and security flaws in ATMs that allow hackers to steal personal account numbers and... play Angry Birds.http://www.afponline.org/mbr/reg/res/reg_news/AFP_Fraudwatch__China_Linked_to_Cyberespionage_Campaign.htmlTue, 26 Feb 2013 00:00:00 -0400http://www.afponline.org/mbr/reg/res/reg_news/AFP_Fraudwatch__China_Linked_to_Cyberespionage_Campaign.htmlLast week, President Obama signed an executive order advocating for greater information sharing between the public and private sector on cyber threats. The executive order and any legislation that follows, while primarily focused on protecting critical infrastructure from cyber espionage, also might help corporates and banks fight cyberfraud.http://www.afponline.org/mbr/reg/res/reg_news/AFP_Fraudwatch__Will_Obama%E2%80%99s_Executive_Order_Improve_Information_Sharing_.htmlTue, 19 Feb 2013 00:00:00 -0400http://www.afponline.org/mbr/reg/res/reg_news/AFP_Fraudwatch__Will_Obama%E2%80%99s_Executive_Order_Improve_Information_Sharing_.htmlCertified Treasury Professionals now have added incentive to participate in next month’s Cyber Attack against Payment Processes (CAPP) Exercise. In addition to testing their organizations’ cybersecurity preparedness, participants will have the opportunity to earn continuing education credits.http://www.afponline.org/pub/res/news/CTPs_Can_Earn_Credits_for_Joining_Cyberattack_Exercise.htmlThu, 14 Feb 2013 00:00:00 -0400http://www.afponline.org/pub/res/news/CTPs_Can_Earn_Credits_for_Joining_Cyberattack_Exercise.htmlThis week, we look at a card fraud ring that was recently charged with creating thousands of fake identities to steal more than $200 million—a reminder that corporates need to guard against old-school techniques as well as cutting-edge tactics. Also, we review the fraud risks social media activity poses to banks and corporates.http://www.afponline.org/mbr/reg/res/reg_news/AFP_Fraudwatch__First-Party_Fraud_Ring_Steals_$200_Million.htmlTue, 12 Feb 2013 00:00:00 -0400http://www.afponline.org/mbr/reg/res/reg_news/AFP_Fraudwatch__First-Party_Fraud_Ring_Steals_$200_Million.htmlThis week, we look at the ECB's recommendations on cybersecurity, new U.S. policies that could allow for preemptive cyberstrikes, and two major hacks believed to have been carried out by Anonymous.http://www.afponline.org/mbr/reg/res/reg_news/AFP_Fraudwatch__ECB_Aims_to_Improve_Online_Payments_Security.htmlMon, 04 Feb 2013 00:00:00 -0400http://www.afponline.org/mbr/reg/res/reg_news/AFP_Fraudwatch__ECB_Aims_to_Improve_Online_Payments_Security.htmlThe Federal Reserve’s Retail Payments Office intends to conduct a study to determine the current volume and composition of electronic payments in the U.S. It should provide trends in usage of payments instruments by consumers and businesses.http://www.afponline.org/pub/res/news/Fed_to_Begin_Triennial_Study_on_U_S__E-Payments_Usage.htmlTue, 22 Jan 2013 00:00:00 -0400http://www.afponline.org/pub/res/news/Fed_to_Begin_Triennial_Study_on_U_S__E-Payments_Usage.htmlThis week, we look at how improvements in cybersecurity are causing criminals to resort to call center fraud, a new report shows that account takeovers in the UK increased 53 percent in 2012, and Kaspersky Labs uncovers a massive cyber-espionage campaign that has been active since 2007.http://www.afponline.org/pub/res/news/AFP_Fraudwatch__Call_Center_Fraud_a_Threat_to_Corporates.htmlTue, 22 Jan 2013 00:00:00 -0400http://www.afponline.org/pub/res/news/AFP_Fraudwatch__Call_Center_Fraud_a_Threat_to_Corporates.htmlThis week, FS-ISAC CEO Bill Nelson discusses the importance of information sharing between the public and private sector. Also, experts weigh in on the recent string of DDoS attacks on U.S. banks.http://www.afponline.org/pub/res/news/AFP_Fraudwatch__Information_Sharing_Key_for_Cybersecurity.htmlMon, 14 Jan 2013 00:00:00 -0400http://www.afponline.org/pub/res/news/AFP_Fraudwatch__Information_Sharing_Key_for_Cybersecurity.htmlFS-ISAC and AFP are seeking participants in the 2013 Cyber Attack against Payment Processes (CAPP) Exercise. On March 12-13 and 19-20, FS-ISAC and AFP will conduct a series of simulated attacks on companies’ payment processes, allowing them to gauge their cybersecurity preparedness.http://www.afponline.org/pub/res/news/AFP,_FS-ISAC_Seek_Treasurers_for_Cyberattack_Exercise.htmlThu, 10 Jan 2013 00:00:00 -0400http://www.afponline.org/pub/res/news/AFP,_FS-ISAC_Seek_Treasurers_for_Cyberattack_Exercise.htmlThis week, a new report reveals that while card fraud in Europe is declining, but criminals still make off with about 1.5 billion euros annually. Also, Industry Canada revises its regulations under Canada's Anti-Spam Legislation.http://www.afponline.org/pub/res/news/AFP_Fraudwatch__EU_Card_Fraud_Down_but_Still_at_High_Levels.htmlTue, 08 Jan 2013 00:00:00 -0400http://www.afponline.org/pub/res/news/AFP_Fraudwatch__EU_Card_Fraud_Down_but_Still_at_High_Levels.htmlThis week, a new survey reveals that mobile wallets are unlikely to catch on the UK in 2013, Canada gets its first NFC-enabled magazine ad, Payment Data Systems targets merchants with a new mobile POS service, and Square capitalizes further on its relationship with Starbucks.http://www.afponline.org/pub/res/news/Mobile_Moves__M-Wallets_Not_Expected_to_Catch_On_in_the_UK_in_2013.htmlMon, 07 Jan 2013 00:00:00 -0400http://www.afponline.org/pub/res/news/Mobile_Moves__M-Wallets_Not_Expected_to_Catch_On_in_the_UK_in_2013.htmlThis week, projections for cybercrime in 2013, as well as some disturbing information about most antivirus programs. Also, best practices companies can implement to restrict access to sensitive data.http://www.afponline.org/mbr/reg/res/reg_news/AFP_Fraudwatch__Cybercrime_Predictions_for_2013.htmlWed, 02 Jan 2013 00:00:00 -0400http://www.afponline.org/mbr/reg/res/reg_news/AFP_Fraudwatch__Cybercrime_Predictions_for_2013.html