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A community for discussion of Transaction Fraud systems and anlaytical techniques for bank card and financial services organisations.
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Cedric Pariente Stanford Certified Project Manager at EFFI Consultants
The situation in France is pretty unique in these times of crisis. Here is how credit is structured and how French people see it and use it. CREDIT IN FRANCE What is the credit situation in France and how do French people see the credit? Well, as a matter of fact granting of credit in France has always been strict. Actually it’s already been like ...
29 May 2009 /payments
In 2009 "cutting costs" is on every CEOs/VPs lips and Customer Services are often the target of this policy. Customer Services What is it? Everything is in the title. It's all about "Customer" and "Services". The Customer Services main goal is to enhance customers' experience/satisfaction of a product or a service. I...
01 May 2009 /security
Lately I have read a lot of interesting blogs and comments about identity theft. This is obviously a hot topic, Hackers have never been so active and banks have had a hard time keeping up. Prologue: Authentication Basics What is the basic principle of authentication? What are we trying to achieve? Let's take the example of a user who wants to ch
24 April 2009 /security
The following authentication scenarios discussed here apply to a simple connection between a client and his online banking website. After reviewing the most dangerous hacking techniques, we will see what solutions can be implemented. What is a Man-in-the-middle (MITM) attack? A MITM attack is an active eavesdropping in which the attacker combin
18 April 2009 /security
Retired Member
In one report, RBS admitted that a hacker penetrated a server at their payment processing unit. No one has really provided the details as to how the wise-guys got a hold of the pin-codes. My theory is that RBS kept authorization message data that enabled the wise-guys to get the customer pins. Assuming of course that RBS did not store the clear te...
18 March 2009 /security
I thought the video interview with Steve Abrams of Mastercard was quite interesting. Just as I suspected, Mastercard was not aware of the existing patent which does not belong to ORBISCOM. His response of “ORBISCOM has been in business for the last 10 years” sounded like a knee-jerk answer. Was this a spontaneous interview or was he aware of the
03 March 2009 /security
OTPs are of course better than static pin-codes. A move to require OTPs instead of the static pin-code will surely help eradicate card-present fraud. Can such a card even be inserted into any chip and pin terminal? If so, I just can't imagine how I can use this card combo to: generate an OTP, try to remember the OTP, insert it into an ATM machine
02 March 2009 /security
"Chase Card Services, the credit card division of JP Morgan Chase & Co. [NYSE:JPM], announced that it recently received a patent from the United States Patent Office for its breakthrough fraud prevention technology, First Watch Intelligence." I just checked out Chase Patent US 7,480,631. Considering BILSKI's case that was discussed...
25 February 2009 /security
Elton Cane Digital product delivery at News Corp Australia
We were contacted recently by Alain Job, who filed a lawsuit last year against Halifax over an alleged fraud instance on his EMV chip card, for which the bank is holding him responsible. Our news story here, and good analysis by Finextra Community members here. Alain says the case is due to be heard in April this year and wanted to answer some of t...
12 February 2009 /security
The Interchange Fee is part of the Merchant Service Charge (MSC) paid by a card acceptor (merchant) to a card issuer. Some reports state that the Interchange Fee can be 66% - 80% of the MSC and that Interchange Fees in the UK average around .79% of the transaction value, 1.35% for Belgium, 1.75% for U.S., 2% for Canada, 0.45% for Australia,
08 February 2009 /security
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