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Article: Card Fraud: Managing the Risk

Article from:
Hoosier Banker
Article date:
December 1, 2007
Author:
Copyright

One of the most worrisome and expensive problems in the card services industry today is that of card fraud and managing the associated risk. It's difficult to pick up a paper, watch the news or surf the Web without seeing a new story related to credit or debit card fraud or identity theft. These clever crooks seem to have a never-ending number of schemes aimed at robbing honest consumers - not only of their money, but also of their peace of mind.

HOW BIG IS THE PROBLEM?

One industry estimate surmised that for every $100 dollars spent using cards, six cents is lost to fraud. That number seems small in proportion to the total amount spent in card transactions, but those small numbers add up. ...

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