Subject: SCN Daily News (HTML) Wednesday, 19 June 2019
Date: 19/06/2019, 15:57

Smart Card News Online

Wednesday, 19 June 2019

Riviera Beach Agrees to Pay $600K Ransom to get Computer System Back Online

Riviera Beach city leaders agreed earlier this week to pay a ransom to help get the city's computer system back online.

At a special council meeting on Monday night, the council voted unanimously to authorize the city's insurance carrier to pay a 65 Bitcoin ransom to recover the city's data which has been encrypted.

Link: WPTV

Five Million Consumers Choosing a Cashless Lifestyle

One in 10 UK adults, just over five million people, are choosing to live a largely cashless lifestyle, while debit cards continue to be the most popular payment method according to UK Finance's latest Payment Markets Report.


It Takes a Hacker to Catch a Hacker, says Prize-winning Saudi Cyber Whiz

A Saudi ethical hacker named "inspiring innovator of the year" at a prestigious awards ceremony in London has revealed her secret for staying one step ahead of cyberattackers.

"I act as an attacker and adopt the hacker's mindset," 28-year-old cybersecurity specialist Noor Al-Rayes told Arab News.

"It takes a hacker to catch a hacker."

Link: Arab News

U.S. Politicians Hammer Facebook over Libra Digital Currency Project

Rep. Maxine Waters, D-Calif., chair of the House Financial Services Committee, called on Facebook to stop the development of Libra, citing the company's recent issues with privacy and misinformation. She also pointed to the lack of regulation around cryptocurrencies as an ongoing issue.

Link: NBC News

Iceland Will Have the First Currency to be Traded As E-Money in Europe

According to CoinDesk, Moneirum has received regulatory approval to provide fiat payments on a blockchain network. This is going to be possible throughout the European Economic Area (EEA). Sveinn Valfells, the CEO and co-founder of Monerium, explained that electronic money is a well-established regulatory framework in the continent.

This time, electronic money has been approved to work on top of a blockchain network. About this, Valfells commented:

Link: UTB

New EMV Checkout Standards Look to Create Secure, Frictionless Environment

While ecommerce has exploded in terms of driving consumer shopping preference in recent years, the process of conducting transactions over computer browsers and mobile phones continues to be a cumbersome and in some cases insecure process that frustrates consumers and leaves billions of dollars on the table in abandoned transactions, payment fraud and other vulnerabilities.

A new remote checkout standard announced by EMVCo is being closely watched by the credit card industry, retail merchants, card processors and banks to see if progress can be made on creating a more secure and streamlined system for consumers to complete mobile and online purchases.

Link: Mobile Payments Today

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