and Jayakumar, in their article in The Washington Posts (2014), stated that up to forty million customers’ card information had been stolen. One way to help keep credit and debit card information secure is through the use of smart cards, specifically EMV cards with microchip technology versus the magnetic stripe. In this paper we will discuss what smart cards are and how they work, how they increase security, and how they differ from our current magnetic stripe cards. What are smart cards? Before diving
When going off to college, a young adult may feel overwhelmed with the looming sense of responsibility hanging over his/her heads. Starting off a new life is hard and it seems as if when one finally gets the freedom they’ve been looking forward to for his/her entire adolescent life, they just don’t know where to start. Family member and friends can give all the advice they can but it will never be enough; they can make a list of all the items the new adult needs but it may be too long or too short
Today credit cards have become increasingly popular and more frequently used than cash when it comes to making purchases. In 2012 it was found that 27% of all point of sale purchases were paid with cash and by 2017 that percentage was expected to drop to 23%. While credit cards are clearly being used more many people are paying the consequences. But where and when did the credit card even come about? John Biggins is the man given credit for creating the idea of credit cards in 1946. He started off
numbers, email addresses, phone numbers, birthdays, or addresses. I also believe that the government should respond to this large data breach and have harsher laws, and more protection from fraud and identity theft for people that use credit cards. EMV and other technology should be put into effect in order to better protect consumers and their financial information and the economy.
of the most common forms of fraud involves stealing and using a credit card, and there are few barriers in place to prevent this from happening. With EMV-standard smart cards, however, a microchip embedded in the card adds a more robust layer of protection, generally in the form of a pin number. Though many retail stores have not yet introduced EMV-compliant hardware, that is expected to change by the fall of 2015. In the meantime, smart cards can still be used with older hardware, and the retailer
Introduction – Overview of The Home Depot Case Study This analysis will explore The Home Depot data breach which occurred on Sept 8th, 2014, one of the nation’s largest security retail compromises of that time. The Home Depot, with over 2,200+ stores in the United States, Canada and Mexico, suffered a historic cyber-attack of significant proportions. The breach was devised by skilled hackers who developed an unknown custom malware that penetrated their payment systems and stole over 56 million credit
Sensitivity Analysis A technique used to determine how different values of an independent variable will impact a particular dependent variable under a given set of assumptions. This technique is used within specific boundaries that will depend on one or more input variables, such as the effect that changes in interest rates will have on a bond's price. Sensitivity analysis is a way to predict the outcome of a decision if a situation turns out to be different compared to the key prediction(s).
Diagram 1: e.CRMMarketing one by one unique and is related to each customer that can have millions of audience. One by one CRM e.CRM Number of communication channels Mass marketing Traditional marketing One kind for all Customer-specific production Product Features E-business: Definition of E-Business according to various definitions and concepts in Customer Relationship Management (CRM): E-business and its relationship with Customer Relationship Management - Similarities Business 2 Business
Ethics Paper CSC 251 Brandon Richards Introduction Ethics are an important part of everyone’s lives. A moral code that must be followed and guide everyone’s moral compass. Ethics also have a major impact in the workplace. The very foundations of corporations just like governments are founded with ethics. A moral code keeps everything running in order. Ethics can be defined as a set of moral principles. Ethics are such a big part of the world of technology that there are very defined codes that
During the 2013 holiday season, Target was involved in a major credit card hacking scheme which affected millions of consumers. There were approximately 70 million customers that had their debit and credit cards compromised. The company announced that hackers somehow manipulated the payment system and stole debit and credit card data. The hackers were able to retrieve consumer names, card numbers, expiration dates, and the three digit security code on the back of the cards (Kassner, 2014). While
Risk Management Process Identify Risk Risk identification, focuses on identifying which risks will affect a project, by looking at the project plan, the work breakdown structure, the project charter and other project related documents (PMBOK, 2008). Broad risk categories are human resources, technology changes, quality and performance issues, customers, vendors, management, funding, political, legal, market forces and environmental issues (PMBOK, 2008). Risk identification involves forward and creative
Of course, as card-present transactions are becoming less susceptible to fraud due to the EMV chip card technologies, it is expected that more fraud will continue to shift to online transactions. Online it is still relatively easy to input fraudulent financial information with being noticed by the fraud detection systems. Businesses conducting
INDEX 1. Introduction 2. Type of Attack in ATM 3. Replay Attack in ATM 4. Counter Measures for Replay Attack :-RIPSEC Protocol[3] 5. References Introduction In present era, with rapid growth of banking and financial system throughout the world.Currently there are more than 730 million Debit/Card circulating throughout the world. Evesdroppers or Cyber-thief comes with new measures/attack to perform fraudulent transactions. It has been very necessary to come up
Hide and Seek: The Examination and Prevention of Identity Theft In simple terms, identity theft is the intentional use of someone else’s identity. Using another person’s identity is normally used as a method to gain financial advantage, or to obtain credit or other benefits in the other person's name. This occurs when a credible identity is created for one’s self by illegally accessing credit cards, financial records, computer systems or other personal identifying information. Unfortunately, utilization
Overview: United Bank of India is one of the prominent nationalised banks in the country that have played a major role in spreading banking services to the farthest Eastern and North-Eastern parts of the country. UBI has sponsored 4 RRBs (Regional Rural Banks) in states such as West Bengal, Assam, Manipur, and Tripura. The four RRBs have around 1,000 branches in these states and UBI contributes more than 35% of share capital/additional capital of these banks. Even areas that are nearly inaccessible
Interac is Canada’s leading payment brand and is recognized as the world leaser in debit card services. Interac is owned by the Interac association and Acxsys Corporation. The brand is chosen an average of 12 million times daily to pay and exchange money (Canada NewsWire, 2015). Interac Association started in 1984 and 1984 as a cooperative project between five Canadian financial institutions. The Financial institutions were Royal Bank of Canada (RBC), Canadian Imperial Bank of Commerce (CIBC), The
lead them to have an ROI of 30-40x. Also the Warriors’ slogan which is “Strength in Numbers” proves that emphasizing the team aspect of the organization has helped fan engagement. Their top three posts on Facebook has together an earned media value (EMV) of $700,000. The social media division has a much targeted plan for remarketing to customize all the factors of having specific ads to their audience based on highly detailed criteria such as how recently they visited the Warriors’ website or if they