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Cyber security is the EU’s digital frontier
Cyber security is a precondition to promoting innovation also in the area of payments. The European Union Agency for Network and Information Security (ENISA) is a centre of expertise for cyber security in Europe. ENISA supports the European Union (EU) and the Member States in enhancing and strengthening their capability and preparedness to prevent, detect [...]
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London identity theft rates three times higher
London is the country’s identity theft capital, with significantly higher rates than anywhere else in the UK. The statistics are based on the number of fraudulent applications across financial products including: current accounts, loans, mortgages, savings accounts, insurance, automotive and credit cards. The 2014 figures, which focus for the first time on how fraud is [...]
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Consumers want part in protecting their payment cards from fraud
A survey conducted in the US, Canada and the UK by FICO shows that fraud is top-of-mind for consumers in the wake of high-profile data breaches. Respondents’ primary concern about payment fraud wasn’t financial loss, it was the time required to fix the problems created by fraud. This was the top concern for 68% of respondents [...]
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Card fraud increases as stolen cards used once every 20 seconds
British businesses were hit by card fraud once every 20 seconds in March, with Worldpay warning that small businesses are likely to have been hackers’ biggest targets. Worldpay saw over 133,000 fraudulent transactions worth £10 million reported in March alone, leaving businesses out of pocket as fraudsters purchased goods and services using stolen card details. [...]
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Cybercrime bigger than drug trade
In an extraordinary presentation at a TechUK event Adrian Leppard, the City of London police commissioner attacked the big banks by saying that cybercrime may now be bigger than the drug trade, and the police do not have enough resources to tackle it. Leppard claimed that 80% of cybercrimes go unreported and of the 20% which do, [...]
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