The results of Actimize’s Card Fraud and Mass Compromise peer-review survey validate a number of widely held assumptions about recent developments in card fraud, and also point to a number of less obvious trends in card fraud risk management.  Download this report to learn more about:

  • Impact of mass compromise events on consumer confidence
  • Effect of the current economic situation on consumer card usage
  • Anticipated growth rate of ATM/debit fraud in 2009
  • Methods and technology banks are using to prevent ATM/debit fraud

Get the report here: cardfraudmasscomp

Half of financial institutions experienced fraud complaints as a result of major data breaches

Credit card fraud may get most of the publicity when it comes to identity theft, but ATM and debit card theft is expected to grow 10 to 14 percent this year, according to a survey of financial institutions released today.

It turns out the study was well-timed, too: Police officials in New York City yesterday reported that a fraud ring had stolen $500,000 from hundreds of bank customers’ accounts in the city using skimming devices affixed to ATM machines at Sovereign Bank branches in Staten Island. The skimmers read and stored their account information, and a rogue camera affixed to the machines captured victims’ typing in their PIN numbers. They also used the information to clone the cards, according to published reports.

Continue reading …