Although credit card companies have long relied on analytical tools to identify potential fraud in shops, the patterns of fraudulent online sales are, as yet, unknown. Equifax claims to have hit the front in the race to develop software to spot...
Many of you read our coverage and many of you replied with your own stories of these fraudulent emails, expressing concerns about what is being done to crack down on this crime. The average amount of money lost by these victims was £56,675 - a...
Using a combination of behavioural analysis software and education, banks stand a much better chance of preventing fraud in the first place, she said. Proactively, it is the education of customers. But she said the banks are now in a better...
The DWP also plans to take a few lessons from financial services organisations that have been tackling fraud: "We are looking at testing more innovative ways of preventing fraudulent claims over the phone - including the use of the latest...
If insurers can cut out fraud - which can be found in as many as one in five claims - they should be able to reduce their costs. And if they can (and yes it's a big if) pass that back to the consumers, then anti-fraud technologies may benefit us all.
If the bank cannot show this, then the customer will have no liability for losses incurred via an online banking service. What the code has to say about online customers paying for fraudulent transactions on their accounts is worth reading...
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