Security experts at Visa U.S.A. and Mastercard say that the battleagainst Internet-based thieves has reached a stalemate and the creditcard industry will have to spend millions of dollars over the nextdecade just to keep up with them. A Reuters article on Computerworldreports that John Shaughnessy, senior vice president for fraudprevention at Visa U.S.A. Inc. and Suzanne Lynch, vice president forsecurity and risk services at MasterCard International Inc. said thatorganized crime rings, often with the help of former Soviet KGBcryptographers, are successfully using the Internet and “crimeware”software programs to circumvent the defenses credit card issuers haveerected against them. The picture they presented of an escalatingstruggle between commerce and criminality offered little hope of quickrelief for consumers worried about identity theft or for investors incard-issuing banks concerned about security’s escalating costs. Read more. Related content news Chinese state actors behind espionage attacks on Southeast Asian government The distinct groups of activities formed three different clusters, each attributed to a specific APT group. By Shweta Sharma Sep 25, 2023 4 mins Advanced Persistent Threats Advanced Persistent Threats Cyberattacks feature How to pick the best endpoint detection and response solution EDR software has emerged as one of the preeminent tools in the CISO’s arsenal. Here’s what to look for and what to avoid when choosing EDR software. By Linda Rosencrance Sep 25, 2023 10 mins Intrusion Detection Software Security Monitoring Software Data and Information Security feature Top cybersecurity M&A deals for 2023 Fears of recession, rising interest rates, mass tech layoffs, and conservative spending trends are likely to make dealmakers cautious, but an ever-increasing need to defend against bigger and faster attacks will likely keep M&A activity steady in By CSO Staff Sep 22, 2023 24 mins Mergers and Acquisitions Data and Information Security IT Leadership brandpost Unmasking ransomware threat clusters: Why it matters to defenders Similar patterns of behavior among ransomware treat groups can help security teams better understand and prepare for attacks By Joan Goodchild Sep 21, 2023 3 mins Cybercrime Podcasts Videos Resources Events SUBSCRIBE TO OUR NEWSLETTER From our editors straight to your inbox Get started by entering your email address below. Please enter a valid email address Subscribe