Latest Card fraud News: Finextra Research

US committee approves data security legislation

A US House committee has approved a new data security law that requires companies that store confidential personal information to notify customers of any security breach.

31 March 2006

News/Card fraud

Retail Decisions inks First Data CNP deal

UK-based Retail Decisions (ReD) has inked a deal to provide card-not-present (CNP) fraud prevention services to US e-payments processor First Data.

21 March 2006

News/Card fraud

US banks fall victim to large-scale hacking and skimming fraud

More banks in the US are reissuing debit cards following the security breach at an undisclosed retailer that forced Citibank to block PIN-based ATM transactions on card accounts in Canada, Russia and the UK earlier this week.

10 March 2006

News/Card fraud

UK phishing fraud losses double

Direct fraud losses from online phishing scams in the UK almost doubled in 2005 to £23.2m, according to statistics from the Association for Payment Clearing Services (Apacs).

07 March 2006

News/Card fraud

Shadowcrew six plead guilty in underground card crime bust

Six members of an underground Web site that trafficked in stolen credit card data have pleaded guilty to charges of conspiracy.

18 November 2005

News/Card fraud

Debitman signs Wal-Mart; First Data study backs PINs at POS

California's Debitman Card has signed Wal-Mart and Sam's Club to its retailer-issued debit card programme, which is promoted as a cheaper alternative to bank-backed debit cards.

14 November 2005

News/Card fraud

Card fraudsters target the Web

Card-not-present (CNP) fraud jumped 29% to £90.6m in the first half of the year, mainly due to increasing levels of Internet fraud, according to the latest stats from the UK's Association for Payment Clearing Services (Apacs).

08 November 2005

News/Card fraud

Consumer group calls on banks to shape up on card fraud

UK consumer rights group Which? has called on banks to take more responsibility for the escalating rates of card fraud by sending out unactivated replacement cards to customers and providing clearer security guidance.

03 November 2005

News/Card fraud

HSBC rolls out Fair Isaac card fraud detection technology

UK banking group HSBC has implemented US-based Fair Isaac's Fraud Predictor technology in a bid to cut card fraud levels.

27 October 2005

News/Card fraud

Chip and PIN boasts 31% drop in counterfeit card fraud

Lost and stolen and counterfeit card fraud in the UK has fallen almost 30% in the first six months of 2005, following the nationwide introduction of chip and PIN cards at the point-of-sale.

10 October 2005

News/Card fraud

Visa chief calls for stiffer penalties for card crime; authorises $200 million extra spend

Visa USA president and CEO John Coghlan has called for a national data protection standard and tougher penalties for criminals responsible for card and data fraud, while authorising a $200 million increase in anti-fraud spending at the card scheme over the next four years.

06 October 2005

News/Card fraud

Retail Decisions confirms acquisition rumours

Card fraud prevention outfit Retail Decisions has confirmed market rumours that it is contemplating raising cash to fund an acquisition.

05 October 2005

News/Card fraud

E-merchants missing out on $5bn in revenue - PaymentOne

Online merchants are losing over $5 billion in digital commerce revenues due to the lack of secure alternative payment options for consumers, according to research conducted by Javelin Strategy and released by US e-payments firm PaymentOne.

28 September 2005

News/Card fraud

ATM skimming gang arrested in Australia

Police in Australia have arrested four men who allegedly stole hundreds of thousands of dollars from bank accounts in an ATM card skimming scam.

26 September 2005

News/Card fraud

Card companies losing fight against cyber criminals

The battle against cyber thieves has reached a "stalemate" and card companies will have to spend millions over the next decade just to keep up with the criminals, according to security experts at Visa and MasterCard.

20 September 2005

News/Card fraud

Online card transactions soar

More than 22 million adults in the UK made purchases online in 2004 accounting for 262 million transactions totalling £16 billion, according to research by payments association Apacs, which expects online payment volumes to rise to 1.2 billion by 2014, with total spending of around £60 billion.

08 September 2005

News/Card fraud

Mexican banks aim to triple card terminal base

VeriFone has signed a deal to supply more than 10,000 wireless payment devices for use primarily by Mexico's 7000 petroleum stations.

06 September 2005

News/Card fraud

ING Direct rolls out ACI fraud detection kit

ING Direct, the Internet and phone banking arm of Dutch banking group ING, is implementing ACI Worldwide's anti-money laundering and fraud detection software, Proactive Risk Manager, across its operations in Australia, France, Italy, Spain, Canada, US and the UK.

18 August 2005

News/Card fraud

ATM card skimmers gaoled

Four members of an ATM card skimming gang who could have stolen as much as £200,000 have each been gaoled for four years.

12 August 2005

News/Card fraud

Fifth Third licenses Retail Decisions card fraud detection technology

Fifth Third Bank Processing Solutions, the e-payment processing division of Cincinnati-based Fifth Third Bancorp, is implementing technology from UK-based Retail Decisions (ReD) to detect ATM, credit and debit card fraud.

08 August 2005