Archives

  • Bitcoin Breakdown: EU Banks Told to Back Off Bitcoin
    This week, California Governor Jerry Brown signs a bill legalizing bitcoin, a venture capitalist wins 30,000 Silk Road bitcoins at a U.S. Marshals auction, and Japan decides against regulating bitcoin
  • AFP Fraudwatch: Brazilian Fraud Ring Steals $3.75 Billion
    This week, fraudsters are believed to have stolen nearly $4 billion by exploiting Brazil’s boleto payment method. Using man-in-the-browser attacks, a fraud ring has compromised nearly 500,000 boleto t
  • Cyberrisk: The New Frontline of Risk Management
    An alarming surge in cyberattack incidences on many of the largest U.S. companies has ushered into corporate boardrooms a new axiom of executive management: cyberrisk. Public companies are faci
  • AFP Fraudwatch: Treasurer Relives Her Firm’s Cyberbreach
    What’s it like from a treasurer’s perspective when your company is hit by hackers? A treasurer recalled what transpired when her company suffered a $125-million cyberbreach.
  • Bitcoin Breakdown: Canada First Nation to Regulate Bitcoin
    Canada gave royal assent to Bill C-31 last week, becoming the first country to regulate Bitcoin and other virtual currencies. Some nations have weighed in on Bitcoin on a case-by-case basis, including
  • June 2014 Payments Newsletter
    This month, Payments turns its attention toward fraud and cyber risk, as recent events have caused quite a shakeup. We recap a session at the CTC Corporate Treasurer’s Forum, in which FBI Special Agen
  • AFP Fraudwatch: P.F. Chang’s Cyberbreach Lasted 9 Months
    Last week, P.F. Chang’s Chinese Bistro confirmed that it had undergone a massive security breach that compromised customer credit and debit cards. Though details of the breach were initially sparse, i
  • AFP Fraudwatch: A Closer Look at GameOver Zeus
    Treasury and finance professionals who attended the 10th Annual CTC Corporate Treasurers Forum last week received an in-depth look at GameOver Zeus, the botnet responsible for stealing at least $125 m
  • AFP Fraudwatch: Game Over for Botnet, Ransomware Operators
    The U.S. Department of Justice teamed with Europol, the UK’s National Crime Agency, the Microsoft Cybercrime Center, Dell SecureWorks and others to take down the GameOver Zeus botnet and Cryptolocker
  • Mobile Deposit Usage Surges in Canada
    Canadians have deposited more than one million checks via mobile phones since the Canadian Payments Association (CPA) approved the check image rule last year, according to data from NCR. The rule allo
  • European Treasurers Share Concerns over Bitcoin
    Last week at the annual General Assembly of the Association of Corporate Treasurers—Suisse Romande (ACTSR) in Geneva, Switzerland, a representative from the Bitcoin Foundation gave a presentation on B
  • AFP Fraudwatch: Retail Treasurers Increase Cyberinsurance
    Treasurers of retail chain stores said they expect their companies will spend as much as triple the amount they already pay for cyberinsurance in the wake of the Target security breach. That’s on top
  • May 2014 Payments Newsletter
    This month, we bring you exclusive coverage of the recent AFP Treasury Advisory Group (TAG) Meeting and the 2014 AFP Retail Roundtable, both of which were held this month in Dallas. The Foreign Accoun
  • Obey or Pay: It’s Time for Treasurers to Act on FATCA
    With the Foreign Account Tax Compliance Act (FATCA) scheduled to take effect on July 1, many treasury departments are making sure they know what they need to do to comply. Not surprisingly, the law wa
  • Fear of the Unknown: EMV Tops Retail Treasurers’ Concerns
    Treasurers at the 2014 AFP Retail Roundtable in Dallas said Thursday that their biggest concern is EMV migration. They cited cost, customer resistance, and nagging doubts that switching to the chip-an
  • AFP Fraudwatch: Post-Target, Treasurers Get Proactive
    Fraud has always been a concern for treasurers, and in the post-Target environment, it has only become even more of a priority. At the latest meeting of AFP’s Treasury Advisory Group in Dallas, practi
  • Navigating Canada’s Anti-Money Laundering Laws
    Understanding regulations around Canadian payments is critical for corporate practitioners operating north of the border—and south of it as well. Because the two nations are each other’s largest tradi
  • AFP Fraudwatch: Target Breach’s Latest Victim is the CEO
    Target said Monday that it has relieved Chairman and CEO Gregg Steinhafel of his duties, following the massive holiday data breach that compromised 110 million customers, hurt Target’s fourth quarter
  • Cash: The Once, Current and Future King, Says Fed
    New data indicates that U.S. consumers still prefer to use cash over any other payment method, including debit and credit cards. The Cash Product Office (CPO) of the San Francisco Fed reported that wh
  • ANSI Approves Technical Reports on Remittance
    The Remittance Coalition, an industry group that promotes greater use of electronic business-to-business (B2B) payments and electronic data exchanges, has received approval from the American National
  • NACHA Requests Feedback from Network End Users on Same-Day ACH
    NACHA is requesting feedback from treasury and finance professionals on use cases, benefits and potential transaction volume of a ubiquitous same-day settlement capability across the ACH Network. The
  • Moving U.S. Payments Forward: What’s the Holdup?
    Treasury and finance professionals who are focused on payments are looking for ways to modernize the United States payments system, if discussions at the recent NACHA Payments conference in Orlando, F
  • AFP Fraudwatch: 3 Million Cards Hacked in Michaels Breach
    Michaels Stores has admitted that two security breaches it incurred over an eight-month period might have compromised more than 3 million customer credit and debit cards. Also, the Verizon Data Breach
  • Bitcoin Breakdown: Investors Look to Revive Mt. Gox
    A U.S. investor group is attempting to revive the now-defunct Bitcoin exchange Mt. Gox before it is liquidated by a Japanese bankruptcy court. Creditors who owned more than 70 percent of the bitcoins
  • Back to Square One: Startup Contemplating Sell-Off
    Despite high-profile financial backing, generous media coverage and a growing customer base, Square is learning the hard way what traditional third-party providers have known for years: payments is a
  • April 2014 Payments Newsletter
    This month, we begin with a look at the results of the 2014 AFP Payments Fraud and Control Survey, sponsored by J.P. Morgan. While corporate fraud decreased overall, card fraud spiked. The good news i
  • Fed Wants Treasury, Finance Pros to Partake in Fraud Survey
    Federal Reserve Banks are conducting a survey addressing payments-related fraud, and treasury and finance pros are being asked to participate. The survey aims to help the Fed better assess current cha
  • Can Regulation Save Bitcoin?
    Can virtual currencies be regulated in a manner that protects consumers, merchants, our payment systems and national security, while at the same time not “killing the golden goose” through overly burd
  • AFP Fraudwatch: How Treasury Should Respond to Heartbleed
    By now, you have probably heard about the Heartbleed bug—a serious vulnerability in recent versions of OpenSSL, software that millions of websites use to encrypt communications with users. Making matt
  • Bitcoin Breakdown: Pros and Cons of Accepting Bitcoin Payments
    As the buzz over Bitcoin has grown, corporates have taken notice and are looking at how it can apply to their businesses. Could Bitcoin eventually disrupt traditional B2B payments?
  • Mobile Payments: Why Merchants Have the Power
    Many mobile payment apps and mobile wallets fail to connect with consumers because they focus too much on the payment and not on the customer experience. However, some retailers have had success with
  • Durbin Amendment Isn’t Helping Retailers Much, Study Finds
    When Congress passed the Durbin Amendment back in 2010, their intent was to lower retailers’ interchange fees from accepting debit cards. But a new survey by the Richmond Fed found that, since the rul
  • Third Time’s a Charm: Same-Day ACH to Settle 3 Times Daily
    NACHA President and CEO Jan Estep revealed more details on her organization's new, phased-in approach to same-day ACH.
  • Industry Group Outlines New Project to Speed E-Payments

    The Remittance Coalition, a group of payments industry players that works to increase the efficiency of B2B payments made and reconciled by U.S. businesses, shared more details of its much-anticipa

  • NACHA Requests Comment on Addenda Record Expansion
    NACHA is requesting comment on the possible expansion of the number and types of addenda records available for use with ACH payments. The electronic payments association is considering expanding these
  • AFP Fraud Survey: Card Fraud Up, As Is Security Spending
    Credit card fraud increased last year despite heightened interest in reducing security risks, according to the 2014 AFP Payments Fraud and Control Survey, sponsored by J.P. Morgan. In response, compan
  • AFP Fraudwatch: FBI Takes Down ATM Skimming Gang
    The FBI has indicts 17 people for their involvement in an international ATM skimming and money laundering scheme. Also, Sally Beauty admits its recent breach was larger than anticipated, and two banks
  • Bitcoin Breakdown: IRS Declares Bitcoin a Property
    The Internal Revenue Service said last week that it will treat Bitcoin as a property for tax purposes, rather than a currency. The classification means that Bitcoin and other virtual currencies will n
  • Wal-Mart Accuses Visa, Banks of Colluding over Interchange Fees
    Wal-Mart is suing Visa for $5 billion for allegedly colluding with some of the largest U.S. banks to fix interchange fees for retailers. The suit claims that banks have agreed to not compete with each
  • RMB Payments Surge in Australia
    Renminbi payments are booming in Austrialia, according to SWIFT data. Nevertheless, the RMB fell behind the Swiss franc as payments currency in February. RMB payments have increased by 248 percent in