Pci Dss 101 -all The Background You Need For Understanding The Pci Dss - Part 2 By: Mark Kedgley | - This is the second of a two part article intended to provide a backgrounder in understanding the PCI DSS. See Part 1 for the following
What is it, and why is it important?
The 12 Point PCI DSS
So who exactly is subject to the PCI DSS?
Sounds like a lot of work and expense - what is the cost justification for the PCI DSS?
Trying to understand the actual cost of payment card fraud is not straightforward - by their very nature, fraudulent tra ... Tags:PCI DSS Compliance, pci dss
A recent report from the European Security Transport Association (ESTA) found that nearly 20% of the adult population in Great Britain has been targeted as part of a credit or debit card scam. As a result, the UK has been termed the Card Fraud Capital of Europe [1], with UK citizens twice as likely to become victims of card fraud as other Europeans. Plastic card fraud is a lucrative exploit for criminals and the proceeds may be used to fund organised crime. Smart payment card ... Tags:University of Strathclyde, strathclyde university, strathcly
For banks and financial institutions, fraud prevention has always been a major concern as fraud such as credit card fraud is a cost that can lower their profitability. To minimize this cost, banks and financial institutions often have to carefully allocate resources to establish and maintain effective and efficient fraud prevention measures. Incorrect decision as to how to allocate resource ... Tags:credit cards, savings accounts, bank accounts
Banks Accused Of Increasing The Risk Of Fraud By: Arti Vasoo | - With the careless lending by the banks bringing the UK into recession, it is only expected that they now take on a different approach towards lending.
However, a number of concerns have been raised regarding the banks which suggest that lenders still havent learned their lessons.
Many news reports have revealed that banks are now increasing the risk of credit card fraud and encouraging people to spend more, luring them into deeper Tags:Credit cards, debt
Cyber Cops Face A Tough Challenge By: Aran Lackey | - At the beginning of October, Policing Minister Vernon Coaker announced the launch of a new £7m policing unit to tackle cyber crime and Internet fraud.
But while the Police Central e-crime Unit (PCeU) was welcomed in some quarters, there have already been concerns voiced by politicians, IT experts and businesses about the relatively small amount of funding available to target a multi-billion pound criminal industry, and questions over the Government's real level of commitment ... Tags:cyber-crime, e-crime, e-policing, police news, police oracle, internet crime
This comes following research by the OFT that showed 70 per cent of card holders had not assessed which provider would best suit them.
By making the terminology easier to understand and offering people better information about the charges different cards carry, the OFT believe it would ... Tags:Credit Card, Credit
Using Your Plastic Overseas By: Matt Wellock | - However irritating the bank adverts are, (you know the ones, depicting a woman asking the unhelpful bank manager about the charges for using her credit card abroad), they have a point. As consumers, we are being charged increasingly more for using our plastic outside the UK. We are not being given enough information and awareness about the charges and how to avoid them all together.
However, help is at hand with a new travel guide for travellers going abroad. The leaflet has been ... Tags:Credit Cards, Overseas, Fee
Britons Take Out More Credit Cards By: Danielle Fletcher | - Although introduced relatively recently credit cards have become firmly entrenched in the average British household, and are used for a wide variety of spending from the weekly shop to booking a holiday. Their flexibility and ease of use have made them a popular alternative to carrying around cash and increased security measures such as the new chip and pin technology help people feel more secure in using them.
Credit cards are also a great way for generating extra cash, somethin ... Tags:Credit Cards, Credit
Younger People More Susceptible To Credit Card Fraud And Identity Theft By: Phil Benson | - With APACS revealing credit card fraud had risen by 25 per cent in 2007, research from Saga found that people aged less than 50 years old, and especially men, are more likely to be the victims of card fraud or identity theft. This they say is down to the fact that younger people tend to have multiple credit and debit cards which makes fraudulent activity harder to spot.
Of those surveyed, 94 per cent admitted to owning a credit or debit card with 86 per cent saying they have up t ... Tags:Credit Cards, Card Fraud, Debit Cards, Credit
Credit Card Fraud More Likely To Affect Under-50 By: Ruth Jacob | - People under the age of 50 and men in particular, are more likely to expose themselves to credit card fraud or identity theft, according to research by Saga credit card; the financial website, for older people.
As most under 50, have multiple credit and debit cards, spotting fraudulent activity on their accounts is much harder. Also, with more young people living in shared accommodation and using shared letterboxes, their risk of falling victim to fraud is much higher.
< ... Tags:Credit, Credit Card, Fraud
West Consumers Hit By Credit Scams By: Mildred Parker | - Credit card consumers in the West continue to fall victims to cash-card scammers long despite the availability chip and pin technology.
Latest figures suggest that credit card fraud is still on the rise as con artists perfect ways of siphoning money from consumers bank accounts.
Reports reveal that criminals are getting more techno savvy and are now transporting abroad personal information from where they then take the money.
Good Credit Card Holders Face Penalties By: Carys Robshaw | - In a desperate attempt to claw back some profit, credit card companies are targeting low risk customers. The companies are reeling as they need to recover millions of pounds in lost revenue and bad debts after the regulator imposed limits on penalty fees.
As a result, last year 2.5 million credit card holders were affected, with new fees charged, accounts closed and spending limits reduced.
Of these 2.5 million customers, only 16 per cent were classed as bad custo ... Tags:Credit Cards, Debt, Loans,
Many Brits Take Out Personal Loans In Secret By: Mark Skinner | - Taking out an unsecured personal loan still carries a social stigma, according to a study by Abbey Loans. A large amount of Britons are taking out loans in secret, as they are too ashamed to admit their financial position to friends and family. Over 7 billion is borrowed in secret each year for a variety of purposes. The most common reason is paying off debts (56%) but 15% take out the loan to make home improvements whilst 7% use it for medical bills and 2% for cosmetic surgery.
Debt Problems - The Real Story By: DebtSmasher | - Britain's personal debt is increasing by ~ 1 million every four minutes! A scary enough statistic, even if you are not one of the increasing numbers of people who are struggling to make their repayments and wondering exactly where it all went wrong.
Credit Card Safety "" Chip And Pin Not Enough By: Mr Hanna | - Credit cards and debit cards are viewed as relatively secure methods of making purchases; however as with any security measure there are people who will try to find their way around it. Various increasingly complex methods have been devised to access bank accounts by obtaining the consumer's details such as scanning and copying the electronic strip on the back of the card to create duplicates which can be used to siphon off funds.
Debit Card Stats Outline Payday Loan Flexibility By: Mr Hanna | - Research from Apacs released earlier this week provided the news that debit card purchases have, for the first time in history, outstripped cash spending in terms of the amount of money splashed out underlining the flexibility which people today appreciate when it comes to making everyday buys.
The figures showed that in 2005 people spent some 89 billion using debit cards, which was a significant increase of nine per cent on the previous year's amount and eclipsed the cash s ... Tags:adverse credit, bad credit, mortgages, independent advisor, mias
Credit Card Cheques Branded A "rip-off" By Financial Protection Agencies. By: R.Green | - The Office of Fair Trading has issued a demand for a change in the law restricting the use of credit card cheques. These cheques have been around for about 10 years and are designed to allow people to transfer funds into another of the cardholders accounts or make payments using their credit card accounts without the use of the card itself. They have however come under fire for a variety of reasons and are widely disliked by both financial watchdogs and the public alike.
