Latest Card fraud News: Finextra Research

Efunds, IBM and Infomax to implement Thai national payments network

US payments systems vendor eFunds is teaming with IBM and Bangkok-based IT services firm Infomax to implement a new payments network for the National Interbank Transaction Management Exchange (ITMX) in Thailand.

12 January 2007

News/Card fraud

US consumers want biometric payment cards, study shows

Over half of US customers support the addition of biometric authentication information to credit and debit payment cards, acccording to a study commissioned by online security firm Truste and conducted by market information group TNS.

10 January 2007

News/Card fraud

UK retailers miss out on £1.6 billion in online seasonal sales due to consumer security fears

Online retailers in the UK could be missing out on £1.6 billion in Christmas sales as one in three consumers shy away from Internet shopping because of security worries, according to research commissioned by Unisys.

21 December 2006

News/Card fraud

Visa introduces $20m acquirer incentive programme for PCI compliance

Visa USA says it will offer $20 million in incentives and introduce new financial sanctions in order to increase merchant compliance with the Payment Card Industry Data Security Standard (PCI).

13 December 2006

News/Card fraud

Fast Payments creates strong case for two-factor authentication, says Thales

The UK's new Faster Payments Service (FPS) creates a strong business case for the immediate introduction of multi-factor authentication methods for transactions, says Thales e-Security.

06 December 2006

News/Card fraud

UK tops Europe for card fraud

The UK has been branded the card fraud capital of Europe after research conducted by European Security Transport Association (Esta) found that one in five British adults has been targeted by fraudsters.

21 November 2006

News/Card fraud

Euro Central Bank calls for more clarity on Sepa for cards framework

The European Central Bank has laid down a new set of objectives for payment card schemes to achieve in order to become Sepa-compliant, amid concerns that current provisions would lead to higher prices and a deterioration in service quality.

20 November 2006

News/Card fraud

Smart Card Association rebuffs RFID fraud claims

The Smart Card Association (SCA) has dismissed claims by US researchers that a security flaw in RFID contactless payment cards leaves customers open to fraud.

15 November 2006

News/Card fraud

UK banks prepare to test online shopping authentication system

UK payments body Apacs is liaising with banks, card schemes, retailers and systems vendors on the introduction of an authentication system for use in both online and telephone shopping, as the latest fraud figures show rising levels of CNP (card not present) crime.

07 November 2006

News/Card fraud

MasterCard introduces online debit fraud monitoring tool

MasterCard has partnered with California-based BasePoint Analytics to launch an online monitoring tool designed to detect fraudulent PIN debit transactions.

05 October 2006

News/Card fraud

Bank of America tops ID fraud protection poll

Bank of America has come out top in a study conducted by Javelin Strategy & Research that examines how well US financial services firms prevent, detect and resolve consumer identity theft.

27 September 2006

News/Card fraud

Chase chucks out data on 2.6 million customers

US bank JPMorgan Chase says computer tapes containing the personal financial information of 2.6 million current and former credit card customers were mistakenly identified as rubbish and thrown out.

07 September 2006

News/Card fraud

Matrix Bancorp reports computer theft

Colorado-based Matrix Bancorp has become the latest US financial institution to report the theft of computer equipment containing the confidential account details of banking customers.

07 August 2006

News/Card fraud

Australian committee urges introduction of chip and PIN

Australia's House of Representatives economics committee has called for the introduction of chip and PIN technology to replace the current signature-based card payment system.

07 July 2006

News/Card fraud

Police bust Canadian card cloning gang

Police in Montreal have arrested nine people - including a bank call centre employee - that allegedly used rigged payment terminals to skim debit cards and steal customers' PINs.

23 June 2006

News/Card fraud

Retail Decisions terminates takeover talks

UK card fraud prevention outfit Retail Decisions (ReD) says it has ended takeover talks with an unidentified suitor because the approach offer didn't reflect the true value of its business.

01 June 2006

News/Card fraud

New security device aims to protect Chip and PIN users from 'shoulder surfers'

A new chip and PIN security device capable of protecting cardholders from "shoulder surfing" thieves at the cash till is being piloted by UK health and beauty retailer Boots.

23 May 2006

News/Card fraud

Australian police call for introduction of chip and PIN

The head of the Australian Federal Police (AFP) has warned banks in the country that the continuing use of magentic strip cards is leaving customers vulnerable to fraud and is urging the industry to speed up the introduction of chip and PIN technology.

11 May 2006

News/Card fraud

Sinsys signs for Fair Isaac card fraud detection technology

San Francisco-based Fair Isaac has signed Pan-European card processing utility Sinsys to its account management system, Triad and fraud detection technology, Falcon Fraud Manager.

04 May 2006

News/Card fraud

Barclaycard to by-pass fraud checks for holidaymakers

In a bid to prevent legitimate cardholders being rejected when using their plastic abroad Barclaycard says it will no longer refer overseas card transactions for fraud checks provided customers have informed the company of their travel plans.

25 April 2006