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House of cards?

House of cards?

Source: Federal Reserve Bank of Kansas

The Kansas City Fed analyses the changing nature of US card payment fraud and explores industry and public policy options.

While the US payments industry is taking steps to combat rising levels of payment card fraud, progress has been slowed by conflicts of interest, inadequate incentives and lack of co-ordination.

This article presents a preliminary estimate of the rate of payment card fraud in the US and concludes that policymakers should step up their monitoring of the sector and consider actions to "help the industry overcome barriers to effective development of security".

Download the document now 461.1 kb (PDF File)

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Federal Reserve Board

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Comments: (1)

A Finextra member
A Finextra member 26 July, 2010, 11:56Be the first to give this comment the thumbs up 0 likes

I am not sure the Spanish Fraud figures are accurately represented - the ServiRed figures in the Annual Report would only cover Fraudulent Transactions processed by that Switch - which is one of three National Switches.  You would need to combine this figure will Fraud data from Sistema4B and Euro6000 (CECA) to have a more accurate figure.

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