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David Divitt

David Divitt

Risk Solutions Manager

David Divitt

More articles by David Divitt

  • Fraud Reporting - It's Criminal

    Tuesday, May 24, 2011

    Understanding the scale and source of global fraud is vital if the industry is going to tackle it. Yet getting a handle on what is really taking place is a challenge. Every country seems to have a different way of measuring fraud, and each organisation within those countries often provides statistics that are not consistent with each other.

  • We have a collective responsibility for fraud

    Thursday, January 27, 2011

    News out today from the National Fraud Authority (NFA) shows that fraud costs the UK economy £38bn a year – leaving every adult in the UK £765 worse off.

  • The changing nature of fraud

    Tuesday, December 07, 2010

    The reduction in fraud levels seen in Australia once again reiterate the potential savings that can be delivered if countries roll out EMV technology, and it will be interesting to see if the current non-EMV countries such as the US reconsider their stance as these stories continue to come through.

  • Not Just Another Manic Monday

    Monday, November 29, 2010

    According to Kelkoo – the online retail comparison website – and Visa Europe, Monday 29 November is the busiest online shopping day of the year. Visa Europe expects 3.8m purchases worth £265m to be made using Visa cards and Kelkoo says that online shoppers are expected to spend £537m on Christmas gifts today.

  • Getting One View of Financial Crime

    Wednesday, October 27, 2010

    Anyone who has worked in a bank, or has spent any length of time working with them, knows that technology silos are all too commonplace. Many banks have one system to process debit card payments, another for credit, a third for online banking, and the list goes on. The same applies for fraud prevention and detection, where many banks aren't yet taking a true enterprise view of a customer but instead trying to identify fraud on individual channels, which inevitably makes the detection slower and less accurate - for when fighting financial crime, information and knowledge really is power.

  • Don't be discouraged from online banking

    Wednesday, September 29, 2010

    The news that UK police have arrested 19 people in connection with the theft of millions of pounds from online bank accounts shows the lengths to which criminals will go to commit fraud, and the PCeU must be congratulated on breaking this criminal gang. However, it is important that stories like this don't discourage consumers from banking online. As an individual there are a number of steps that people can take to help protect themselves from fraud - including never clicking on suspicious links in emails or on websites that could download this type of malware to their computer; regularly running anti-virus software; always checking statements; and reporting anything suspicious to their banks.

  • Internet Banking Faces A New Threat

    Monday, September 27, 2010

    The recent announcement of the multi-channelled Zeus attack on a user’s internet banking account is an interesting hypothesis and surely will not be the last when it comes to beating the ever advancing online banking systems. The attack method currently seems to use the mobile phone as a forwarding device for any one time password that is delivered to the customer. It’s unclear whether or not the mobile phone hack would hide the incoming SMS from the customer, however if it doesn’t, then if banks ensure they include relevant transaction details in the SMS - amount, and beneficiary - it could allow the legitimate customer to detect that something has gone wrong prior to money being lost.

  • The PFM Debate

    Tuesday, August 24, 2010

    According to new research from Fiserv Americans prefer to access personal finance management (PFM) tools through banking Web sites, with security concerns trumping the advantages, such as account aggregation, offered by third party providers.

  • Don't Underestimate the Online Fraudster

    Wednesday, May 05, 2010

    From the beginning, banks have protected their online banking businesses with basic authentication methods that required users to log-in with a username / ID number and a password to verify their identity. However, fraudsters quickly started to evade these early online fraud prevention methods by obtaining users’ passwords using social engineering techniques, keyloggers, or any number of other tools.

  • Staying One Step Ahead of the Cyber Criminals

    Tuesday, April 20, 2010

    The latest Symantec report suggests that the number of worldwide malware samples increased by an astonishing 71% in 2009 compared to the previous year. According to the report, this increase stems from the growing popularity of easy to use toolkits that novice cyber criminals are using to turn out their own malware. In our experience, banks and their customers are one of the key targets for this new breed of criminal. While customers need to be more aware of online security risks, banks are also doing their bit to protect their customers. The challenge for banks, however, is to remain one step ahead of the criminals.