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Credit-Card Security: Making the Grade: Bank of America leads all credit-card issuers in a security survey that finds many issuers far from the top of their game. Will consumers take notice?
- Article from:
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Bank Technology News
- Article date:
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June 1, 2008
- Author:
- Malakian, Anthony
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Copyright informationCOPYRIGHT 2008 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The good news is that credit-card issuers are pretty good at resolving fraud claims. The bad news, according to a report from Javelin Strategy & Research on the 25 top card issuers, is that preventing and detecting fraud leaves much to be desired.
The Pleasanton, CA-based firms 2008 Card Issuers Identity Safety Scorecard found that issuers have done a stellar job at fraud resolution, but they still lag at prevention and detection. The report ranked each of the 25 top-tier issuers on a scale from one to 100 based on their prevention, detection and resolution capabilities.
Turns out not all issuers are created equalnot by a long shot. The differences between the elite ...