Combating Cardholder not Present Fraud

Of the security issues facing banks everywhere, prevention of card fraud has always been a high priority, and is set to grow even further in importance. The level of card fraud has risen significantly over recent years, caused in the main, by the explosion in the number and usage of payment cards and the associated high level of organised card crime activity.

For example, over the past decade, fraud losses on UK-issued plastic cards have risen from £96.8m to a staggering £402.4m a year. And these figures do not take into account the ‘soft’ costs related to card fraud, such as tarnish to reputation and potential legal costs. IT Observer - Combating Cardholder not Present Fraud

Linked by shanmuga Monday, 17th October 2005 7:51AM