For Finextra's free daily newsletter, breaking news and flashes and weekly job board.
An article relating to this blog post on Finextra:
Industry losses from online banking fraud increased a massive 185% in the first half of the year to £21.4 million, according to figures released by UK payments association Apacs.
01 Oct 2008
"One of APACS' key responsibilities is co-ordinating a whole range of activities to tackle payment-related fraud"
Does this mean that there's work for APACS as long as there is payment fraud? I ask this because its truly confusing to alert APACS of a solution to payment fraud and there simply is no reaction on their part.
What do they mean actually when they say "tackle"? Is this merely gathering statistics and reporting? They sound like a broken record.
It is quite annoying to read about this card payment fraud problem and know that there is an ideal solution for it. Even Brian Triplett, a security executive from VISA Inc. acknowledges than rather than spending millions of dollars to upgrade to chip and
pin, other technologies are indeed available.
Truly, considering the fiasco that we've seen lately in the banking sector, it is time to see action from banks to do the right thing for consumers, merchants and for the market as a whole, especially when it relates to payments, security and confidence.
Hey Marite, You touched on some very important points.
Im with the TowerGroup in London perhaps we can schedule call to discuss further?
0207 557 6911
19 Mar 2009
This post is from a series of posts in the group:
A community to discuss the future of financial services and any other interesting trends, strategies, ideas, views.