Skip to content

Displaying 101 - 110 of 133 Payments Risk Management blog posts

  • It’s the most wonderful (and cautious) time of the year

    Wednesday, November 21, 2012

    According to the National Retail Federation, the holiday shopping season can represent between 20–40% of annual sales*. In 2011, holiday sales accounted for 19.5% of total retail industry sales. For this year for the first time,, NRF’s digital division, has announced an online holiday sales forecast - projecting online sales this holiday season to increase by 12%. Every year the flurry of in-person and online purchasing activity is not only monitored by the retail and payments industry, but is also closely watched  by the growing numbers of criminals seeking out ways to de-fraud vulnerable account holders of their hard earned (and saved) cash.

  • Your Best Ally in the Fraud Fight? Customers!

    Thursday, November 08, 2012

    One finding from the recent 2012 ACI Fraud Survey was clear:  82% of card holders want to be notified by their financial institution in the event that suspicious activity is detected on their account.  Another way to look at this is that 4 out of 5 card holders want to be part of the fraud prevention process.

  • Mitigate Fraud by Engaging Your Customers

    Wednesday, October 31, 2012

    The recent ACI Global Fraud Survey reveals a number of important takeaways for financial institutions.  One of the many key data points in this study is the 21 % post-fraud attrition figure.  To be specific, more than one-in-five card holders will either switch to another bank or stop using their card altogether after experiencing fraud.  This indicates a kind of post traumatic stress affect, if you will.

  • The true cost of cash

    Tuesday, September 04, 2012

    One of the hot topics for the financial industry, the tech industry, retailers and consumers has been the development of payments via a mobile phone. Most of the talk is about how adoption will be impacted by the various technologies and which one will win out, or the fact that U.S. consumers are very concerned about the security of their financial information and how mobile transactions are processed.

  • New meaning to "open your wallet"

    Monday, August 06, 2012

    Google announced this week that it has opened its wallet to consumers, allowing them to associate any debit and credit card with their Google Wallet. It also has eased integration requirements for card issuers wanting to participate in the initiative. With such barriers removed, consumers could now have more ways to make payments from their smart phone using their debit or credit cards. Until now, Citi was the only bank to partner with Google. 

  • Going cashless: the heat is on

    Thursday, July 26, 2012

    It seems that Canada’s revamped polymer currency isn’t quite holding up the way they hoped. Recent reports say the money has been melting when placed too close to a heater or when left in a hot car. Not a problem they thought they’d have in the Canadian climate, I’m sure.

  • Personal fraud management: staying a step ahead

    Monday, June 25, 2012

    I just finished reading an article which discussed how to avoid becoming a fraud victim. The author discussed various schemes facing consumers today (e.g. e-mail scams, online banking fraud, etc.), ways to avoid or combat said attacks (e.g. anti-virus software) and ways to recoup lost money from a fraud scam (which can be contingent on how responsible you are as a consumer).

  • Shock and Awe: NFA Fraud indicator puts fraud at £73bn

    Wednesday, April 04, 2012

    For those for you that have been tracking, the NFA’s last estimate was £38.4bn, but the rise is really buried in the detail and largely attributed to the NFA casting their net on UK PLC a little wider and completing more granular analysis.

  • The Tale of Two Travels

    Thursday, March 08, 2012

    As most people are aware, travelling comes with its own set of challenges and rewards. The challenges often fall into categories like delayed flights, crowded airports, train or bus terminals, being away from home, managing costs, and personal and financial security. These are usually outweighed by the benefits of spending time with friends and family, new experiences, etc.

  • Is the War on Fraud Being Won?

    Wednesday, March 07, 2012

    Two sets of industry statistics were published this week, with different and conflicting information:

    BBC  quoted statistics from the UK Card Association that plastic fraud losses were down by 7% to £341m, attributed to 41% fall in fraudsters impersonating card holders. Whilst CIFAS reported increase in Account takeover up 18%, account misuse (first party fraud 13%) and identity theft 10%.