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Andy Morris

Risk Business Solutions Consultant
ACI Worldwide
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Andy provides assistance to ACI's risk business solutions group and Proactive Risk Manager solution

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Risk Business Solutions Consultant
ACI Worldwide
To Present
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Latest opinions

Andy Morris

One step forward and two steps back for Fraud in the UK

Disappointingly, judging from the recent latest round of fraud statistics,[1] it looks like the UK is back on the naughty step in terms of countries with the highest fraud losses. New figures released by Financial Fraud Action UK (FFA UK) show that levels of card and online banking fraud rose during 2013, with fraud losses on UK cards totalling £4...

17 March 2014

Andy Morris

What do EMV, payments fraud and the Top 40 have in common?

Pause for thought…….quiz time. Can you remember who topped the UK charts on the 14th February 2006? Now, can you also remember what was the main business driver behind the UK’s move to the EMV standard of “chip and pin,” which also coincidentally was the same official launch date (14th February 2006)? Well let me put you out of your misery. It was...

10 October 2013

Andy Morris

Give mobile a chance

Mobile bared the brunt of some bad press this week. Firstly, the story that NFC could be compromised through a new app, secondly the charger that could penetrate the iOS operating system and thirdly the emergence of a new breed of consumers labelled as “paynuphobics” – purportedly 26% of adults who are scared to use online and mobile because of se...

07 June 2013

See all 9 opinions by Andy

Latest comments

Card and online banking fraud losses on the rise in UK

Now I'm not clairvoyant, but warning signs pointing to increased fraud losses were buried in last year's results, despite them being the lowest figures in the last five years: £341m. Specifically, there were two exceptions where plastic fraud increased (mail inception and lost and stolen).

This was a clear signal that the fraudsters were returning back to low-tech methods. Let's not beat up chip and pin here - it's had success. We too readily forget that had we not adopted it, extrapolated losses were expected to rise upwards of £840m. However, let me continue with the low-tech theme for now.

Counterfeit cheques also showed evidence of increased losses – again the jump from counterfeit cards and cash to cheque should not have been a surprise. Social engineering is a big menace and we should recognise the efforts of industry, trade bodies and government to educate the customer to be wise to the threats. Ignorance is a real problem and I think the case for contributory negligence against the customer continues to build.

One last thought. I'm just puzzled as to whether all banks are equally impacted or whether we have a few non-performers who might be distorting the statistics. That's something the trade bodies, regulators and shareholders probably need to contemplate. 

28 Sep 2012 09:55 Read comment

Is the War on Fraud being won?

A valid and interesting viewpoint.  Perhaps we can carry this discussion on offline.  Please feel free to contact my office – happy to chat further.

08 Mar 2012 11:55 Read comment

Is the War on Fraud being won?

Thanks. Putting out a statement that 41% of the fall is attributed to fraudsters impersonating customers is a little ambiguous and misleading from my perspective. Yes fraudsters can use genuine cardholder details to obtain goods or services (impersonation).  However, the reality is here we are measuring and talking about third party fraud - fraud not perpetrated by the cardholder. Yet CIFAS reports cite 18% increases in Account Takeover and 10% rises in Identity theft  - also third party fraud. The CIFAS measurements aren’t necessarily at the payment (Card) level – which is really the point that I was making in respect of comparing apples with apples in my initial blog.  

Finally, not sure I share your views on the first party issue. I think the industry takes the topic very seriously given that it is widely suspected that this type of fraud can also be a vehicle used to finance terrorist activities.   

07 Mar 2012 14:48 Read comment

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Andy writes about

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