Payments

Visa: EMV-Enabled Merchants Seeing Just Half of Previous Fraud

A year after the liability shift for card fraud based on readiness for chip card or EMV capability, merchants that had completed the transition to chip card terminals saw 47 percent less counterfeit fraud in May versus a year earlier, according to figures released today by Visa.

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BAFT Publishes FATF Guidance for Wire Transfers

BAFT -- ABA’s global transaction banking subsidiary -- today released guidance and best practices related to the Financial Action Task Force Recommendation 16, which requires the inclusion of certain beneficiary and originator information when sending wire transfers in an effort to prevent the movement of funds by terrorists and other criminals.

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Data Theft Damages: Who Pays?

When it comes to data breaches, the hack of the archaic Myspace—the failed social media platform that was rendered obsolete by Facebook—proves nothing is safe.

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Survey: Despite Card Fraud, Consumers Satisfied with Resolution

While nearly half of U.S. consumers believe they will experience credit or debit card fraud in the next five years -- and 42 percent have personally experienced it -- victims of fraud are universally satisfied with the way their bank resolved the situation, according to a recent survey.

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