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Survey finds wide fraud loss ranges in US market
In a recent First Annapolis study of financial institution fraud experience in the US, participants reported average fraud losses (net fraud) in the first half of 2015 of 13.1 bps and 7.7 bps on credit and signature debit volume, respectively. Net fraud was relatively stable compared to 2014, in which losses of 12.1 bps and [...]
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TSYS deal for card issuers and merchants to combat fraud
TSYS announced an agreement with Ethoca, a provider of collaboration-based technology that enables card issuers and e-commerce merchants to stop card-not-present fraud, recover lost revenue and eliminate chargebacks. Launched through this agreement, the TSYS Transaction Recovery NetworkSM, powered by Ethoca, provides near real-time notification of confirmed fraud that empowers issuers and online merchants to quickly [...]
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One third of consumer’s feel vulnerable to fraud
New research reveals that almost one third of consumers are exposed to fraud due to uncertainty over what constitutes “secure” channels for sharing their bank details.
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Growth in card fraud outstrips sales growth
Fraud losses are at record levels worldwide. Card fraud worldwide grew 19 percent last year compared to card sales which grew only 15%, according to figures released by the Nilson Report. Global card fraud losses topped $16.3 billion in 2014 against global sales of $28.8 trillion. Fraudulent sales accounted for 5.65 cents in every $100 [...]
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New payment services bring a better customer experience but also the attention of fraudsters
Payment card providers that are battling for market share are introducing new services to defend and expand their client base. New initiatives by issuers bring a better customer experience. However, they also bring the attention of increasingly sophisticated fraudsters. Co-Founder and CIO of risk mitigation experts Global Risk Technologies, Monica Eaton-Cardone, analyses recent moves from [...]
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