Thirty percent of consumers globally have experienced card fraud in the past five years, according to new global benchmark data from ACI Worldwide and Aite Group.
Reducing credit and debit card fraud by implementing EMV chip card acceptance has become retailers’ top payment issue in 2016, but retailers are also busy with new data security enhancements such as point-to-point encryption and tokenization to better protect payment card data.
Fraudsters’ methods continually evolve to counter new fraud protection measures and with personally identifiable information, they could steal a customer’s identity or create a synthetic identity. Once a fraudster captures this information, if they are able to access a customer account or open an account, it creates a nightmare scenario with significant repercussions for the business and the customer.
A few years ago, most people would have scoffed at the thought of ecommerce becoming a necessity for retail success. Now, we know that it’s very much required for many retailers to survive.
Seventeen percent of employee theft in organizations with fewer than 500 employees occurs in the financial services industry, according to a new report.
Strong online and mobile security, coupled with the rollout of EMV chip cards in the US means cybercriminals are changing tactics, exploiting the weakest link in the organization: the call center.
