Thursday, September 10, 2009
Appeared in Spectrum, September 10, 2009 Card fraud cost the UK more than £600 million in 2008 according to APACS, and the UK banking industry is actively seeking to combat the growing problem. The battle is even more vital now, as research from Datamonitor(1) reports that despite efforts to combat fraud, the global financial crisis could accelerate a wave of financial crime targeting banks. Making the right investments in fraud prevention while under pressure to cut costs and ensure maximum return on investment, however, presents a particular challenge for today’s fraud managers.
Tuesday, September 08, 2009
Its name makes it sound a bit like a game. But "man in the middle," as the swindle is known, is an example of a modern, cutting-edge form of theft that victimizes banks and their customers.
Sunday, August 30, 2009
At noon, you use your credit card to pay for gas at a station in Columbus. An hour later, your card has been used to buy a $1,500 computer -- at a store in Moscow. Before the charge is approved, a sophisticated computer-monitoring system thousands of miles away raises a red flag, denies the charge and keeps you from becoming the victim of a crime -- all in a matter of seconds.
Friday, August 28, 2009
Dubai: Scammers live off of the wages of honest people not just by using stolen credit cards alone. Fraudsters can go on a spending spree once they have your credit card details. No physical card is necessary.
Tuesday, July 14, 2009
With the announcement that French banks are delaying the implementation of the Direct Debit scheme in the Single Euro Payments Area by a year, and continued uncertainty and national disagreements about the Payment Services Directive (PSD), which is supposed to provide the legal framework for SEPA, the grand European harmonisation project is hardly running like clockwork. Dave Adams investigates the troubles, how the jigsaw can be made to fit, and looks ahead to a time when European-wide payments provide far-sighted banks with economies-of-scale savings and more business.
Wednesday, July 01, 2009
For many years, fraud and anti-money laundering activities, where they existed, were separate functions for most banks, operating with different parameters and with little interaction.
Wednesday, June 17, 2009
Westpac New Zealand has implemented ACI Proactive Risk Manager for Enterprise Risk solution on IBM's System z platform, announced ACI Worldwide, Inc. , a New York-based provider of electronic payments software and solutions. Westpac New Zealand chose the ACI solution to strengthen its fraud detection and prevention capabilities, to protect against the rising volume of fraudulent activities occurring worldwide.
Monday, June 15, 2009
ACI Worldwide has named a number of new executives to key positions.
Monday, June 01, 2009
How can financial institutions stay one step ahead of fraudsters? Michelle Weatherhead looks at the latest technologies and methods designed to stop fraudsters in their tracks.
Thursday, May 28, 2009
The banking sector is waking up to a new age and many banks are reaching the conclusion that the road to future success lies in going back to basics.