WAKE UP CALL ON CARD FRAUD AS LOSSES HIT RECORD LEVEL
August 1st, 2014
CONSUMERS could face more real-time transaction checks when buying goods by card, leading analytics software firm FICO, USA, has suggested in a study of card fraud levels in 19 European countries. Analysis showed United Kingdom (UK) card fraud hit record levels in 2013, up 15% year-on-year at GBP450 million (USD751.86 million) and beating the previous peak in 2008.Total losses across 19 countries were EUR1.55 billion (USD2.07 billion) according to the survey’s data, collected by global market intelligence provider Euromonitor International. UK and France ...
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