Even with new EMV standards, credit card fraud will continue.
Credit/debit card fraud is affecting consumers more and more. It is one of the reasons why the switch was made to the new chip cards (although the jury is still out on how effective the chip cards will be).
The best way for companies to combat potential fraud is to understand where fraud is most likely to happen, as well as the demographics of victims — information you can find in reports like the United States of Fraud report from online fraud detection company Sift Science. A few details from the report:
"Southern states have the highest rate of shipping address fraud, while the west equaled their southern counterparts in billing address fraud. The lowest overall fraud tends to be in the Midwest. Perhaps not surprisingly, the report also found that men are more likely than women to be fraudsters while the elderly are the most likely to be the victims of fraud."
Your company's data — client information, payment information, personal files, bank account details — is always at risk of falling into the wrong hands. And every day, security threats seem to come from a new place.
In this slideshow, we have collected some of the best advice that leading security experts have shared with IT Business Edge recently, identifying areas of data vulnerability and helping you develop strategies for securing your data and information systems.
Incorporating security capabilities such as encryption, better control and management and a data security framework will help alleviate the burden breaches place on the organization and people's lives. ... More >>