Card fraud lessons exposed

first_img continue reading » Recently Allied Solutions presented a webinar on card fraud in response to the reported increase in card fraud attacks. When polled, 81% of attendees stated they have personally experienced an uptick in card fraud during the last 12 months.After this webinar, Allied reached out to individual financial institutions to perform an assessment of their risk programs and help uncover potential causes of the card fraud they were experiencing. Here’s what they found:Financial institutions were seeing increased instances of PIN fraud at the ATM.Discoveries: A fraud monitoring system (FMS) was not in place for PIN authorizations performed at an ATM.All employees were granted the authority to change ATM PINs when requested by a caller.center_img 6SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img

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