One in four a victim

http://www.professionalsecurity.co.uk/news/case-studies/one-in-four-a-victim/?

24TH JUNE 2014

A fraud study of more than 6,100 consumers across 20 countries has suggested that one in four consumers has been a victim of card fraud in the last five years.

Mike Braatz, senior vice president, Payments Risk Management Solutions, ACI Worldwide, said: “Consumers are increasingly concerned about fraud, and are losing confidence on a variety of levels. They are unsure that their financial institutions can protect them against fraud; they use replacement cards less often due to a loss of confidence in the card or card issuer, after experiencing fraud; and post-fraud, they often change providers or their cards go to back of wallet. This has immediate and long-term implications on customer loyalty, revenue and fee income.”

Having spent all my working life in banking I must say that modern banking systems appear to be becoming less secure and fraudsters are becoming a greater menace.