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More Financial IT News

New York's proposed Bitcoin rules include consumer protections

Companies trading in Bitcoin and other virtual currencies would be required to hold enough of the currencies to cover their debts to customers and would have to verify the identities of account holders as a protection against money laundering, under new regulations proposed by the New York State Department of Financial Services [DFS].

Visa launches 'Checkout' for quick and easy payments from any device

Visa announced a new simplified digital payment service called Visa Checkout, which is designed to allow customers to pay quickly for goods online on any connected device.

Bank of America illegally copied $300M in software, alleges Tibco lawsuit

Bank of America illegally copied $300 million worth of Tibco's enterprise software for use in a massive IT project at its Merrill Lynch subsidiary, Tibco alleges in a lawsuit.

PF Chang's says breach was 'highly sophisticated criminal operation'

Restaurant chain P.F. Chang's China Bistro says the theft of credit and debit card information from some of its restaurants earlier this year was "part of a highly sophisticated criminal operation."

Breaches exposed 1 in 7 US debit cards in 2013

Data breaches at retailers and financial services companies exposed 14 percent of all U.S. debit cards in 2013, according to a nationwide survey by a major ATM network operator.

You won't believe what programming language this Wall Street firm uses

One Wall Street firm found computational success not on the traditional path of enterprise Java, but in an obscure functional programming language called Caml, which offered the perfect tradeoff of concision and readability.

Despite source code leak, Android malware fetches top $5,000 price

Despite a leak of its source code, an Android program aimed at compromising online bank accounts is still commanding $5,000 per copy, one of the highest prices seen for a type of malware, according to research from Symantec.

Web apps and point-of-sale were leading hacker targets in 2013, says Verizon

Web application attacks, cyber-espionage and point-of-sale intrusions were among the top IT security threats in 2013, according to Verizon's latest annual report on data breach investigations.

Court extends bankruptcy probe of Mt. Gox mess

The Tokyo District Court has granted a bankruptcy examiner six more weeks to assess the convoluted situation surrounding failed Bitcoin exchange Mt. Gox.

Payment card security revamp becoming chip vs. PIN tussle

Industry efforts to shore up payment card security after the massive data breach at Target appear to be devolving into a battle over chip vs. PIN technology between retailers and credit card companies.

Mt. Gox creditors want to force Karpeles to testify in the US

Creditors of failed Bitcoin exchange Mt. Gox are trying to force its CEO Mark Karpeles to go to the U.S. for questioning related to a fraud lawsuit.

Banks' suit in Target breach a 'wake-up call' for companies hiring PCI auditors

A lawsuit filed by two banks against Target and Trustwave Holdings, the retailer's security assessor and service provider, could lead to more rigorous evaluations of a company's security for protecting payment card data, experts say.

Bitcoin's backers know they need to win you over

Bitcoin's popularity is growing, but even its biggest backers say it has a mountain of problems to overcome in gathering wider appeal.

US will tax Bitcoin as property, like stocks, rather than as currency

The Internal Revenue Service said it will treat Bitcoin as a form of property for tax purposes, rather than as currency, making it subject to similar rules as stocks and barter transactions.

ATM malware, controlled by a text message, spews cash

A group of enterprising cybercriminals have figured out how to get cash from a certain type of ATM -- by text message.

Bank of America sees software-defined data centers as 'irresistible'

Driven by a very strong belief in the future of software-defined data center technology, Bank of America is steering its IT to almost total virtualization.

Small bitcoin exchange, Vircurex, teeters after large withdrawals

A small bitcoin exchange in Beijing is in trouble again after trying to earn back funds lost in two hacking incidents last year.

ATM operators eye Linux as alternative to Windows XP

Some financial services companies are looking to migrate their ATM fleets from Windows to Linux in a bid to have better control over hardware and software upgrade cycles.

Alibaba buys stake in messaging app maker Tango

Chinese e-commerce giant Alibaba Group is investing $215 million to acquire a minority stake and a seat in the board of Tango, a mobile messaging app from the U.S.

Most ATMs will remain on Windows XP after Microsoft pulls plug on OS support

More than six out of 10 ATM machines in the country will be running on an obsolete operating system when Microsoft pulls the plug on Windows XP support on April 8, raising serious security and compliance issues for the systems' operators.