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Expert view: the ACI blog

Andy Morris

Risk Business Solutions Consultant

Posted on: Thursday, March 10, 2011

Card fraud increases 60 per cent in 18 months

ACI’s 2010 Global Card Fraud Survey has been making a splash in the media over the last few weeks. According to our research, approaching a third (29 per cent) of consumers across eight major economies have been victims of card fraud in the past five years. This is up from less than a fifth (18 per cent) in summer 2009.

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Andy Morris

Risk Business Solutions Consultant

Posted on: Tuesday, November 23, 2010

Direct Debit Fraud at an All Time High

It is worthwhile remembering that there is actually more than one victim involved in Direct Debit fraud. The Paying Bank executes the payment against a fraudulent direct debit mandate, and the Collecting Bank receives the fraudulent payment, whose customer provides goods and services – for simplicity let's assume they are in fact legitimate in the first place.

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Andy Brown

Payments Industry Consultant

Posted on: Tuesday, February 16, 2010

Moving Forward with EMV

“I think the report from the University of Cambridge is very interesting and raises some very valid points, despite the fact that it is quite theoretical and could only work in a specific set of circumstances.

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Michelle Weatherhead

Risk Solutions Manager

Posted on: Wednesday, July 1, 2009

Card fraud finding the silver bullet

Gerard Hartsink, Chairman of the European Payments Council, recently stated that a decision to move completely to chip cards without mag-stripes will be made by 2011. This decision cannot come too quickly. Yet, even with Chip and PIN, there are variations of security. Any recommendation from the European Payments Council must mandate that the most secure solutions available are implemented. For example, upgrading SDA chips (static data authentication) to DDA chips (dynamic data authentication) makes it more difficult for fraudsters to use cloned cards.

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Michelle Weatherhead

Risk Solutions Manager

Posted on: Friday, April 17, 2009

Identifying trends to effectively prevent fraud

According to recent figures released by the European ATM Security Team (EAST), card-skimming fraud at European ATMs increased 129% in 2008, with a total of 10,302 reported incidents.

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Andrew Rochford

Fraud & Risk Solutions Consultant

Posted on: Friday, December 5, 2008

EMV and fraud prevention

The UK moved to chip and PIN cards a number of years ago, and many countries elsewhere in the world are taking the same steps. But how secure is EMV in really preventing fraud? Will it protect banks against fraud risks? The answer, unfortunately, is probably not - in the short term at least. EMV is not a stand-alone fraud tool and should not be treated as such. It cannot be relied upon on its own to protect a bank from fraud but is part of a wider solution for protecting the bank against financial crime including fraud risk procedures and tools.

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