fraud and
RSS fraud andCredit cards get personal over security
News Last year Mastercard recorded an increase in global card fraud of one third and Visa recorded an interest of 28 per cent on the year before. Much of this has been attributed to internet credit card fraud. [22 Aug 2000]
ICL Post Office fiasco costs UK taxpayers £1bn
News Importantly, they were the only firm that accepted £200m worth of risk of fraud in their bid, and therefore they complied with the Private Finance Initiative. The NAO lays the blame for the failure on all three players: the DSS, the Post Office... [18 Aug 2000]
Safeway investigates hacker attack
News Just last month, silicon.com exposed UK utility Powergen's massive security breach which left debit card details of thousands of customers open to a potential multimillion pounds of fraud. Safeway's security leak is just one of the many recent... [14 Aug 2000]
DSS upgrades 'Jurassic' systems in fraud fight
News The Department of Social Security (DSS) is to outsource its legacy IT system in an effort to clamp down on benefit fraud. Critics say this has contributed to benefit fraud amounting to £4bn over the past few years. [14 Aug 2000]
EDS wins government contract: Industry feigns surprise
Comment Antiquated technology has been partly blamed for the £1bn the DSS loses every year in benefit fraud, and has contributed to its failure to recoup the £4bn it is owed. Its work with government departments - and in particular the Inland Revenue (IR... [14 Aug 2000]
VeriSign acts in war on online fraud
News VeriSign's Payflow Fraud Screen Service rates card transactions on a series of variables that indicate a fraudulent purchase, and assigns a number to the risk between one and 999. Retailers currently take the financial hit for fraudulent use of... [03 Aug 2000]
Behind the Headlines: E-money a non-starter says panel
News Geoff Petherick, chairman of parliamentary lobbyist EURIM's fair dealing group, said: "One of the biggest issues in the card processing industry is fraud. The move is currently being considered by Deutsche Telekom and Dutch telco KPN, after the EU... [28 Jul 2000]
Banks to act as 'e-police' in Visa's online masterplan
News Frank Williams, vice president of fraud at Visa, said the board of directors has already ratified the plan and it will launch in the next couple of months. Visa's plan - due to be launched later this summer - is designed to protect online shoppers... [25 Jul 2000]
Powergen in security scandal - thousands of debit card details open to abuse
News UK utility, Powergen, has admitted to a massive security breach that left the debit card details of thousands of customers open to a potential multimillion pound fraud. Chamberlain also contacted the Visa fraud office to ensure that his card... [18 Jul 2000]
Powergen drama caps week of insecurity
Comment Today, and most alarmingly, a special investigation by our news team led to Powergen admitting to a massive security breach on its website - a hole that left the debit card details of thousands of customers open to a potential multimillion pound... [18 Jul 2000]
Credit card fraud 'ten times more likely online'
News Online retailers are ten times more likely to be victims of a credit card fraud than their bricks and mortar counterparts. According to a study by Gartner Group, stolen credit cards were used in 1.2 per cent of all online sales in 1999, whereas the... [17 Jul 2000]
French banking expresses online transaction fears
News The Commission claimed many companies offering online financial services outsource their IT services, leaving the systems open to hackers and fraud. It claimed many financial services were too trusting of the Internet and did not understand... [04 Jul 2000]
FBI report shows cybercrime hits nine out of ten
News Ninety per cent of US companies have experienced Internet fraud last year, according to study published by the FBI and the US Computer Security Institute. Because virtual fraud is so much easier and quicker to do, companies must respond to the... [08 Jun 2000]
Companies told to guard against increasing online fraud
News Pescatore called this approach naive, saying that enterprises need to match the hunger, innovation and enthusiasm of criminals to commit fraud in order to find ways to prevent it. Internet fraud will outstrip credit card fraud within three years as... [25 May 2000]
Taking care of business: Global plc versus the e-criminals
Comment Yesterday, ministers and technology leaders from G8 and other countries met in Paris to debate problems such as fraud and hacking. The problem with an international law is one of extradition and enforcement. [16 May 2000]
