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Despite a slight decrease in corporate payments fraud and a heightened interest in security risks, 2013 saw an increase in fraud specific to credit and debit cards as criminals and their schemes became more sophisticated, according to the 2014 AFP Payments Fraud and Control Survey released by the Association for Financial Professionals (AFP). “Criminals will [...]

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First Data announced that thinkmoney, part of the Think Money Group, has deployed its PIN NOW SMS solution which provides a digital alternative to the traditional paper PIN mailer. A customer of First Data in the UK since 2010, thinkmoney has rolled out the PIN Now SMS solution across its rapidly growing 120,000 cardholder base. First [...]

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US regulators have warned its banks to protect their ATM’s and card authorisation systems from a fresh wave of cyber-attacks that seek to ATM hack a control weaknesses to spew out millions of dollars in fraudulent withdrawals. Sounding alarm over an especially sinister new wave of cybercrime, regulators are warning bankers that hackers have succeeded [...]

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P2P mobile payments service Paym will be rolled out by Britain’s banks at the end of this month. Customers of participating banks and building societies can register their mobile numbers, linking them to their current accounts, for the service ahead of its 29 April launch. Built under the Payments Council umbrella, Paym – pronounced pay-em [...]

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The European Parliament is to support the cap on costs of all credit and debit cards at reasonable levels across Europe but is allowing member states to set even lower caps. The European Parliament has adopted the ECON committee reports on the multilateral interchange fee (MIF) Regulation and the Payment Services Directive (PSD II). In [...]

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