Risk & Fraud

PCI Compliance: To Whom Are You Compliant?
A few years ago, in response to a growing number of data security breaches, the major credit card brands formed the Payment Card Industry Security Standards Council (PCI SSC). Since then the PCI SSC has developed a set of security requirements for all businesses that handle payment cards.

Innovation and Security: MagTek CEO Mimi Hart
MagTek has been in the payment space for over 38 years and was literally the first company to build a a swipe reader for use at the POS. Before that, they were in the ATM business with transports that read magstripe cards where they have continued to innovate the technology and make it more secure.

Discover Ranks Tops in Detecting Identity Fraud
Discover ranks best in identity fraud detection among the top 25 U.S. credit card issuers in Javelin Strategy & Research’s yearly assessment of identity safety in the credit card industry.

U.S. Retailers Face $191B in Fraud Losses Each Year
U.S. merchants are incurring $191 billion in fraud losses each year, according to a report released by LexisNexis Risk Solutions. Among the findings, the 2009 LexisNexis True Cost of Fraud Benchmark Study discovered that merchants must absorb nearly 10 times the identity fraud cost incurred by financial institutions

Banks and Card Issuers Investing in Technology to Speed-up and Improve Reporting and Prevention of Fraud
An Adeptra poll of banking industry executives found that more than third (36%) said the incidents of cases of fraud they were handling had increased and a further 20% said that it was a priority to speed-up reaction times to prevent potential fraudulent transactions. Almost a third said they were seeking ways to more effectively resolve cases.