White paper. Biometrics and the mitigation of card-related fraud
|
|
- Ella Howard
- 8 years ago
- Views:
Transcription
1 White paper Biometrics and the mitigation of card-related fraud The Aadhaar scheme, primarily envisaged to provide every resident proof of identity, holds a great deal of promise for other applications as well. The banking sector, especially, stands to gain immensely from effective implementation of this project. The Aadhaar card, which will bear an individual s biometric data and serve as a unique ID, can potentially help mitigate a multitude of banking-related problems, such as identity theft and credit and debit card fraud, to name a few.
2 Facts and figures The financial services sector, comprising banks, insurance companies and other non-banking financial companies (NBFCs), has always been vulnerable to fraud. By definition, bank fraud refers to the criminal offence of knowingly executing or attempting to execute a scheme or artifice to defraud a financial institution or to obtain property owned by or under the control of a financial institution by means of false or fraudulent pretenses, representations or promises. Data compiled by the Reserve Bank of India throws up astounding figures, pegging monetary losses due to credit card fraud at about INR lakhs in the quarter ended December 2012, a massive increase over the INR lakhs for the quarter ended September The corresponding number of fraud cases during the two quarters was 1,590 and 1,327 respectively. Types of fraud By and large, the most common types of fraud that an individual is susceptible to can be classified as Electronic Fraud, Identity Theft, Credit/Debit Card Fraud and Cheque Fraud. This paper will focus primarily on the whys and wherefores of credit and debit card-related fraud, ways to address them and most importantly, the means of prevention. More on card-related fraud The advent of credit and debit cards in India brought with it the attendant risks. Card-related fraud was initially limited to unauthorized usage of stolen or lost cards. As card usage gained popularity and prevalence, so did the incidence of fraud and the ingenious methods employed in its perpetration. Advancements in technology that aided banking processes were in turn used to swindle unsuspecting people. Today, perpetrators have a whole repertoire of card frauds. Card reading devices are used to capture electronic data from the magnetic stripe on the card, which is then used to create duplicates. This, in banking parlance, is referred to as skimming. Oftentimes, hidden cameras or false Personal Identification Number (PIN) pads are used to obtain personal access codes for debit cards. Fraudsters also intercept cards being transported through courier and retrieve sensitive information pertaining to an individual s account and card details. Unscrupulous merchants may also use cards to replicate a transaction already carried out at their establishments. Information from the stolen card is used to place a request for a new card, resulting in identity theft. Helpful tips to prevent card loss/fraud With due care and common sense, the majority of credit/debit card frauds can be averted. The first thing to do upon receiving a card is to sign on the reverse side. Apart from being vigilant of their belongings at all times, cardholders need to be mindful of their surroundings while using their cards. At ATMs or merchant establishments, they should use their hand or body to shield the PIN from onlookers. They should keep an eye on the card and never let it out of sight. Upon completion of the transaction, they must double check that the card is safely back where it belongs. It is also important to procure the transaction record and retain it for future reference. Timely verification of account balances with the billing statements can confirm that all transactions have been documented. Any discrepancies need to be addressed promptly. Lost cards or those left behind in the ATM should be reported without undue delay. Most banks have customer service help lines that can be contacted at any time of the day or night. PINs should be committed to memory and never disclosed to anyone. It is advisable to choose a unique number entirely unconnected to other personal numbers such as one s telephone number, date of birth or the like. Telephonic or online transactions should be conducted with utmost care and credit/debit card numbers or other personal details should never be given away, unless when dealing with a trusted merchant. Credit card statements should be scrutinized carefully and any unauthorized transactions should be intimated to the card issuer promptly within 30 days of receipt of the statement or any other time limit specified by the bank. Failure to do so would be deemed as agreement to pay the outstanding amount. It is therefore important to keep the bank and card issuer updated on current contact details. What banks can do While it is primarily the cardholders responsibility to safeguard their cards, banks also need to take proactive measures to hedge their risk of contingent losses due to fraud and put in place an enhanced system of checks and balances. One such effort is the CBI s Bank Case Information System (BCIS), which will include the name of bank fraudsters. The database will be made accessible to field functionaries in the banking sector and will help banks to keep a check on the fraud committed by known fraudsters. 2 Infosys
3 Technology also plays a key role here by minimizing the incidence of card related fraud. It is in this context that the Unique Identification Authority of India-implemented biometric identity card called Aadhaar can be used as an additional security layer for most card based transactions.
4 The UIDAI angle Technology also plays a key role here by minimizing the incidence of cardrelated fraud. It is in this context that the Unique Identification Authority of India-implemented biometric identity card called Aadhaar can be used as an additional security layer for most cardbased transactions. Biometrics in banking With this unique identity card set to become mandatory for opening of new bank accounts and eventually for all existing ones as well, card payment mechanisms can be tweaked to incorporate an individual s biometric data. For instance, at ATMs and card swiping machines, apart from the PIN, an individual s fingerprint and/or retina can be scanned before the transaction is completed. This ensures that the person in possession of the card is indeed its rightful owner. In case of any mismatch, the system can abort the transaction and raise a red flag in the form of a text message to the registered mobile number, so that the concerned individual can take appropriate action. So as to tide over any technical snags in recognizing biometric data, there should be an override option whereby the cardholder receives a one-time password (OTP) in order to complete the transaction, as in the case of net banking. Successful completion of the transaction should, as always, be communicated to the account holder s registered mobile number. To enhance this further, the system should always randomly prompt the fingerprint to be authenticated with an option for the user to reset it X number of times ( X to be decided by the banks) at which time the system should request for another fingerprint to be verified. This would help avoid inconvenience to genuine users who, for various reasons such as an injured finger might not be able to authenticate a particular biometric requirement, which would result in a mismatch and consequently, a failed transaction. Biometrics demystified While on the topic of biometrics, it might be worthwhile to examine what exactly it means. By definition, biometrics refers to an automated system that can identify an individual by measuring physical and behavioral uniqueness or patterns and comparing them to those on record. Biometric systems typically work with fingerprints, retina, DNA etc. With the unprecedented spurt in Internet-based businesses and the growing need for accurate verification of an individual s identity, biometrics presents itself as a simple and convenient solution. The various types of biometric technology available include facial and fingerprint identification, hand geometry, iris and retina recognition, DNA testing etc. Benefits of biometrics in banking The move to integrate biometric technology with the existing banking setup can prove to be extremely beneficial, despite major challenges in terms of upgrading systems and processes. The most obvious advantage would be the significant reduction in credit/debit card fraud. Unauthorized usage of cards can be mitigated as there would be a system in place to double check a person s identity. Such a system would also necessitate the presence of the cardholder at the time of transaction, thereby discouraging card theft. Thanks to the unique nature of the biometric parameters, which are impossible to forge, any attempt at card misuse would be effectively thwarted. The road ahead With the Aadhaar wheels set in motion and the entire project slated for completion in a couple of years, banks need to work handin-hand with the UIDAI to integrate the two entities to help create a safer banking environment. Besides creating huge monetary savings, this would also foster a feeling of security and trust towards banks and banking in general. References 1. businesstoday.intoday.in/story/creditcard-fraud-tips-prevention-debitcard/1/22667.html 2. security/online-security/threatsbanking-safety/fraud-types/ 3. Rekha Hansraj Thakkar Senior Consultant, Product and Domain Consulting, Finacle, Infosys 4 Infosys
5 About Infosys Finacle Infosys Finacle partners with banks to transform process, product and customer experience, arming them with accelerated innovation that is key to building tomorrow s bank. For more information, contact finacleweb@infosys.com Infosys Limited, Bangalore, India. All Rights Reserved. Infosys believes the information in this document is accurate as of its publication date; such information is subject to change without notice. Infosys acknowledges the proprietary rights of other companies to the trademarks, product names and such other intellectual property rights mentioned in this document. Except as expressly permitted, neither this documentation nor any part of it may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, printing, photocopying, recording or otherwise, without the prior permission of Infosys Limited and/ or any named intellectual property rights holders under this document.
WHITE PAPER. Let s do BI (Biometric Identification)
WHITE PAPER Let s do BI (Biometric Identification) Fingerprint authentication makes life easier by doing away with PINs, passwords and hint questions and answers. Since each fingerprint is unique to an
More informationEnhancing Payment Card Security New Measures to be Phased in from 2 nd Quarter 2010 to 1 st Quarter 2011
Enhancing Payment Card Security New Measures to be Phased in from 2 nd Quarter 2010 to 1 st Quarter 2011 On 5 th March 2010, The Association of Banks in Singapore announced key measures to adopt a holistic
More informationFREQUENTLY ASKED QUESTIONS
FREQUENTLY ASKED QUESTIONS 1. What is the YES BANK MasterCard SecureCode? The MasterCard SecureCode is a service offered by YES BANK in partnership with MasterCard. This authentication is basically a password
More informationCONNECTICUT IDENTITY THEFT RANKING BY STATE: Rank 19, 68.8 Complaints Per 100,000 Population, 2409 Complaints (2007) Updated November 28, 2008
CONNECTICUT IDENTITY THEFT RANKING BY STATE: Rank 19, 68.8 Complaints Per 100,000 Population, 2409 Complaints (2007) Updated November 28, 2008 Current Laws: A person commits identity theft when he intentionally
More informationTo all GRSB debit and credit card customers:
To all GRSB debit and credit card customers: A data breach at the Target Corporation may have exposed 40 million credit/debit cards to potential fraudulent activity. If you made purchases in a Target store
More informationFrequently Asked Questions (FAQ) on HSBC Chip Credit Cards
Frequently Asked Questions (FAQ) on HSBC Chip Credit Cards Cards issued by The HongKong and Shanghai Banking Corporation Limited, India (HSBC) 1. What is EMV Chip Card? EMV (Europay MasterCard Visa) is
More informationFAQ on EMV Chip Debit Card and Online Usage
FAQ on EMV Chip Debit Card and Online Usage Security enhancement on HSBC India Debit Card A Secure Debit Card HSBC India Debit Cards are more secure and enabled with the Chip and PIN technology? You can
More informationWISCONSIN IDENTITY THEFT RANKING BY STATE: Rank 15, 175.9 Complaints Per 100,000 Population, 9852 Complaints (2007) Updated January 16, 2009
WISCONSIN IDENTITY THEFT RANKING BY STATE: Rank 15, 175.9 Complaints Per 100,000 Population, 9852 Complaints (2007) Updated January 16, 2009 Current Laws: It is unlawful to intentionally use or attempt
More informationSingle Card Model for Hassle- Free Financial Management
Single Card Model for Hassle- Free Financial Management Single Card in Wallet for Hassle Free Management of Finances Certain drawbacks such as data security breach, challenge the possession and maintenance
More informationAadhaar. Security Policy & Framework for UIDAI Authentication. Version 1.0. Unique Identification Authority of India (UIDAI)
Aadhaar Security Policy & Framework for UIDAI Authentication Version 1.0 Unique Identification Authority of India (UIDAI) Table of Contents ACRONYMS AND TERMS... 3 1. INTRODUCTION... 4 2. SECURITY CONSIDERATION...
More informationAUSTRALIAN PAYMENTS FRAUD DETAILS AND DATA
Australian Payments Clearing Association AUSTRALIAN PAYMENTS FRAUD DETAILS AND DATA 214 Australian Payments Clearing Association Limited ABN 12 55 136 519 CONTENTS OVERVIEW 1 SECTION 1 Fraud rates 4 SECTION
More informationPROGRAM TO PREVENT, DETECT & MITIGATE IDENTITY THEFT
Office of Employee Benefits Administrative Manual PROGRAM TO PREVENT, DETECT & MITIGATE IDENTITY THEFT 150 EFFECTIVE DATE: AUGUST 1, 2009 REVISION DATE: PURPOSE: Ensure that the Office of Employee Benefits
More informationWhat the Future of Online Banking Authentication Could Be
Universal Banking Solution System Integration Consulting Business Process Outsourcing Banking on Internet and mobile is gaining popularity The Pew Internet & American Life Project Tracking survey of December
More informationTwo-Factor Authentication over Mobile: Simplifying Security and Authentication
SAP Thought Leadership Paper SAP Mobile Services Two-Factor Authentication over Mobile: Simplifying Security and Authentication Controlling Fraud and Validating End Users Easily and Cost-Effectively Table
More informationSecurity enhancement on HSBC India Debit Card
Security enhancement on HSBC India Debit Card A Secure Debit Card HSBC India Debit Cards are more secure and enabled with the Chip and PIN technology. In addition to this you can restrict usage of the
More informationIDRBT Working Paper No. 11 Authentication factors for Internet banking
IDRBT Working Paper No. 11 Authentication factors for Internet banking M V N K Prasad and S Ganesh Kumar ABSTRACT The all pervasive and continued growth being provided by technology coupled with the increased
More informationBUSINESS ONLINE BANKING AGREEMENT
BUSINESS ONLINE BANKING AGREEMENT This Business Online Banking Agreement ("Agreement") establishes the terms and conditions for Business Online Banking Services ( Service(s) ) provided by Mechanics Bank
More informationBANK OF BARODA (NEW ZEALAND) LIMITED (BOBNZ) VISA CLASSIC DEBIT CARD. User Guide
BANK OF BARODA (NEW ZEALAND) LIMITED (BOBNZ) VISA CLASSIC DEBIT CARD User Guide Table of Contents Page No Welcome 2 Know your Visa Classic Debit Card 3 Important Information 4 Keeping your Visa Card safe
More informationA multi-layered approach to payment card security.
A multi-layered approach to payment card security. CARD-NOT-PRESENT 1 A recent research study revealed that Visa cards are the most widely used payment method at Canadian websites, on the phone, or through
More informationPayment Systems Department
v Note: Please follow these guidelines for your safety as you enjoy the convenience of technology. However these guidelines are general; therefore, specific precautions may be taken as warranted by the
More informationFUNDS TRANSFER AGREEMENT AND DISCLOSURES
REG E DISCLOSURE This disclosure contains information about terms, fees, and interest rates for some of the accounts we offer. ELECTRONIC FUNDS TRANSFER AGREEMENT AND DISCLOSURES This form complies with
More informationMISSOURI IDENTITY THEFT RANKING BY STATE: Rank 21, 67.4 Complaints Per 100,000 Population, 3962 Complaints (2007) Updated January 11, 2009
MISSOURI IDENTITY THEFT RANKING BY STATE: Rank 21, 67.4 Complaints Per 100,000 Population, 3962 Complaints (2007) Updated January 11, 2009 Current Laws: A person commits the crime of identity theft if
More informationYes, your card will expire at a given date, which is printed on the front of your card.
What is the Debenhams Prepaid Card? Debenhams Prepaid Card works in a similar way to a pay as you go mobile phone. You top up what you need, when you need it. You top the card up with money which can be
More informationPayment Fraud Statistics
Instrument No. of Fraud Payment Fraud Statistics - Summary of Results Fraud Perpetrated on Australian Issued Payment Instruments (Revised December 2013) Value ($) of Fraud Total No. of all (thousands)
More informationMarket Intelligence Cell. Fighting Financial Crime
Market Intelligence Cell Fighting Financial Crime 1 Market Intelligence Cell Our objective To investigate and suppress illegal, dishonorable and improper practices, market abuse and any potential breach
More informationCRM4M Accounting Set Up and Miscellaneous Accounting Guide Rev. 10/17/2008 rb
CRM4M Accounting Set Up and Miscellaneous Accounting Guide Rev. 10/17/2008 rb Topic Page Chart of Accounts 3 Creating a Batch Manually 8 Closing a Batch Manually 11 Cancellation Fees 17 Check Refunds 19
More informationBiometrics: Advantages for Employee Attendance Verification. InfoTronics, Inc. Farmington Hills, MI
Biometrics: Advantages for Employee Attendance Verification InfoTronics, Inc. Farmington Hills, MI Biometric technology offers advanced verification for employees in every industry. Because biometric systems
More informationReducing Fraud whilst Keeping Transactions in Motion
Reducing Fraud whilst Keeping Transactions in Motion Fraud Today Following a decrease in 2012, fraud is on the rise again, and so are the costs involved in managing it. These factors are in turn driving
More informationWith the Target breach on everyone s mind, you may find these Customer Service Q & A s helpful.
With the Target breach on everyone s mind, you may find these Customer Service Q & A s helpful. Breach Overview Q: Media reports are stating that Target experienced a data breach. Can you provide more
More informationAadhaar. Authentication Framework. Version 1.0. Unique Identification Authority of India (UIDAI)
Aadhaar Authentication Framework Version 1.0 Unique Identification Authority of India (UIDAI) Contents 1. Introduction... 3 2. Aadhaar Authentication... 4 3. Uses of Aadhaar Authentication... 5 4. Aadhaar
More informationBe Safe, Smart and Secure: Simple Ways to Protect Your Identity and Your Money
Be Safe, Smart and Secure: Simple Ways to Protect Your Identity and Your Money Cards protect you and your money Electronic payment cards are one of the safest and most secure ways to purchase goods and
More informationELKHORN RURAL PUBLIC POWER DISTRICT POLICY #1230. Identity Theft Prevention Policy
ELKHORN RURAL PUBLIC POWER DISTRICT 1230-1 I. POLICY SUMMARY POLICY #1230 Identity Theft Prevention Policy It shall be the policy of Elkhorn Rural Public Power District ( District ) to take all reasonable
More informationATM FRAUD AND COUNTER MEASURES
ATM FRAUD AND COUNTER MEASURES GENESIS OF ATMs An automated teller machine was first introduced in 1960 by City Bank of New York on a trial basis. The concept of this machine was for customers to pay utility
More informationThe Merchant. Skimming is No Laughing Matter. A hand held skimming device. These devices can easily be purchased online.
1 February 2010 Volume 2, Issue 1 The Merchant Serving Florida State University s Payment Card Community Individual Highlights: Skimming Scam 1 Skimming at Work 2 Safe at Home 3 Read your Statement 4 Useful
More informationFirst Citizens' Federal Credit Union 200 Mill Road, Suite 100 PO Box 270 Fairhaven, MA 02719 508-999-1341 www.firstcitizens.org
First Citizens' Federal Credit Union 200 Mill Road, Suite 100 PO Box 270 508-999-1341 www.firstcitizens.org YOUR RIGHTS AND RESPONSIBILITIES ELECTRONIC FUND TRANSFER DISCLOSURE For purposes of this disclosure
More informationThe best of both worlds Low interest and convenience.
Benefits Guide RBC Royal Bank Visa * Classic Low Rate Option The best of both worlds Low interest and convenience. SAVINGS CONVENIENCE FLEXIBILITY Welcome to RBC Royal Bank Visa Classic Low Rate Option
More information[FACILITY NAME] IDENTITY THEFT PREVENTION PROGRAM. Effective May 1, 2009
[FACILITY NAME] IDENTITY THEFT PREVENTION PROGRAM Effective May 1, 2009 Because [FACILITY NAME] offers and maintains covered accounts, as defined by 16 C.F.R. Part 681 (the Regulations ), [FACILITY NAME]
More informationW.A.R.N. Passive Biometric ID Card Solution
W.A.R.N. Passive Biometric ID Card Solution Updated November, 2007 Biometric technology has advanced so quickly in the last decade that questions and facts about its cost, use, and accuracy are often confused
More informationCard and Account Security. Important information about your card and account.
Card and Account Security. Important information about your card and account. 2 Card and Account Security 1. Peace of mind As a Bendigo Bank customer you can bank with confidence knowing that, if you take
More informationCredit Cards CARD TRANSACTIONS AND YOU. Credit Cards. A consumer education programme by:
Credit Cards CARD TRANSACTIONS AND YOU Credit Cards A consumer education programme by: CONTENTS 1 Introduction 2 What is a credit card and how it works Applying for a credit card 3 Application process
More informationFramework for Biometric Enabled Unified Core Banking
Proc. of Int. Conf. on Advances in Computer Science and Application Framework for Biometric Enabled Unified Core Banking Manohar M, R Dinesh and Prabhanjan S Research Candidate, Research Supervisor, Faculty
More informationEMV and Chip Cards Key Information On What This Is, How It Works and What It Means
EMV and Chip Cards Key Information On What This Is, How It Works and What It Means Document Purpose This document is intended to provide information about the concepts behind and the processes involved
More informationPOLICY NO. 449 IDENTITY THEFT PREVENTION POLICY
POLICY NO. 449 IDENTITY THEFT PREVENTION POLICY I. POLICY SUMMARY It shall be the policy of Polk County Rural Public Power District (PCRPPD) to take all reasonable steps to identify, detect, and prevent
More informationPolicy for Protecting Customer Data
Policy for Protecting Customer Data Store Name Store Owner/Manager Protecting our customer and employee information is very important to our store image and on-going business. We believe all of our employees
More informationENHANCING ATM SECURITY USING FINGERPRINT AND GSM TECHNOLOGY
Available Online at www.ijcsmc.com International Journal of Computer Science and Mobile Computing A Monthly Journal of Computer Science and Information Technology IJCSMC, Vol. 3, Issue. 4, April 2014,
More informationMASSACHUSETTS IDENTITY THEFT RANKING BY STATE: Rank 23, 66.5 Complaints Per 100,000 Population, 4292 Complaints (2006) Updated January 17, 2009
MASSACHUSETTS IDENTITY THEFT RANKING BY STATE: Rank 23, 66.5 Complaints Per 100,000 Population, 4292 Complaints (2006) Updated January 17, 2009 Current Laws: Identity Crime: A person is guilty of identity
More informationcardholder USER GUIDE Purchasing
cardholder Purchasing Table of Contents Published by: J.P. Morgan 2008 JPMorgan Chase & Co. All rights reserved. PaymentNet is a registered trademark of JPMorgan Chase & Co., registered in the United States.
More informationUsing Real Time Interactive Notifications to Effectively Fight Fraud, Accelerate Resolution and Increase Customer Loyalty
Using Real Time Interactive Notifications to Effectively Fight Fraud, Accelerate Resolution and Increase Customer Loyalty Conducted by Javelin Strategy & Research June 2010 All Rights Reserved Rising Fraud
More informationEMV and Small Merchants:
September 2014 EMV and Small Merchants: What you need to know Mike English Executive Director, Product Development Heartland Payment Systems 2014 Heartland Payment Systems, Inc. All trademarks, service
More informationEMV EMV TABLE OF CONTENTS
2 TABLE OF CONTENTS Intro... 2 Are You Ready?... 3 What Is?... 4 Why?... 5 What Does Mean To Your Business?... 6 Checklist... 8 3 U.S. Merchants 60% are expected to convert to -enabled devices by 2015.
More informationMerchant Best Practices & Guidelines
National Bank of Abu Dhabi Merchant Best Practices & Guidelines Merchant Advice Version 1.0 January 24, 2016 Table of Content 1. Guidelines to reduce Merchant Risks... 3 1.1 Card Present Transactions...
More information"You" and "your" mean the account holder(s) and anyone else with authority to deposit, withdraw, or exercise control over the funds in the account.
FIRST BANK KANSAS Information about Electronic Fund Transfers The Electronic Fund Transfer Act and Regulation E require banks to provide certain information to customers regarding electronic fund transfer
More informationBiometrics for payments. The use of biometrics in banking
Biometrics for payments The use of biometrics in banking Biometrics for payments Biometrics for payments The use of biometrics in banking The use of biometrics for authentication is nothing new. But historically,
More informationHere are two informational brochures that disclose ways that we protect your accounts and tips you can use to be safer online.
Here are two informational brochures that disclose ways that we protect your accounts and tips you can use to be safer online. FFIEC BUSINESS ACCOUNT GUIDANCE New financial standards will assist credit
More informationUNIVERSITY OF CALIFORNIA, MERCED Red Flag and Security Incident Reporting Policy
UNIVERSITY OF CALIFORNIA, MERCED Red Flag and Security Incident Reporting Policy RESPONSIBLE OFFICIAL : Executive Vice Chancellor/Provost RESPONSIBLE OFFICIAL : Business & Financial Services EFFECTIVE
More informationSecurity Upgrade FAQs
EMFA FAQs Security Upgrade FAQs Your online security is important to us. Soon, we ll be upgrading your online banking experience to include a new security service, which is known in the online security
More informationDebit Card Transfers
Consumers and Debit Cards Canadian Code of Practice for Consumer Debit Card Services Prepared by the Electronic Funds Transfer Working Group 2004 REVISION (2004 revisions underlined) Table of Contents
More informationDBS Bank (China) Limited Debit Card Users Guide
DBS Bank (China) Limited Debit Card Users Guide Risk Disclosure for Use of Debit Card Terms and Conditions on Debit Card 1 General Provisions 2 Application 3 Account 4 Usage of Debit Card 5 Password 6
More informationChecking Account & Debit Card Simulation and Student Worksheet. Understanding Checking Accounts and Debit Card Transactions
Checking Account & Debit Card Simulation and Student Worksheet Understanding Checking Accounts and Debit Card Transactions What is a Checking Account? Common financial service used by many consumers Funds
More informationWhat is a Checking Account? Checking Account & Debit Card Simulation. What is a Check? Bouncing a Check. Other Checking Components
Checking Account & Debit Card Simulation Understanding Checking Accounts and Debit Card Transactions What is a Checking Account? Common financial service used by many consumers Funds are easily accessed
More informationDIAMOND NAIRA VISA DEBIT CARD. Your Bank
DIAMOND NAIRA VISA DEBIT CARD Your Bank Overview The Diamond Naira Visa Debit Card is an international payment card issued by Diamond Bank in partnership with the VISA Card Association. It is denominated
More informationProtecting the POS Answers to Your Frequently Asked Questions
Protecting the POS Answers to Your Frequently Asked Questions PROTECTING THE POS What is skimming? Skimming is the transfer of electronic data from one magnetic stripe to another for fraudulent purposes.
More informationTERMS AND CONDITIONS FOR THE ICICI BANK INDIAN RUPEE TRAVEL CARD
TERMS AND CONDITIONS FOR THE ICICI BANK INDIAN RUPEE TRAVEL CARD The following terms and conditions ( Terms and Conditions ) apply to the ICICI Bank Travel Card facility provided by ICICI Bank. For your
More informationRegulation E Electronic Funds Transfer Agreement & Disclosure
Regulation E Electronic Funds Transfer Agreement & Disclosure This Agreement and Disclosure is made in compliance with federal law regulating electronic funds transfer (EFT) services. Electronic Funds
More informationAnother Legal Guide from Bonallack & Bishop Solicitors
Another Legal Guide from Bonallack & Bishop Solicitors 80 PRACTICAL TIPS TO HELP COMBAT ALL YOU NEED TO KNOW INTRODUCTION... Over the last few years, identity theft has become one of the fastest growing
More informationElectronic Funds Transfer - Your Rights and Responsibilities ELECTRONIC FUND TRANSFER AGREEMENT AND DISCLOSURE
Marblehead Bank 21 Atlantic Avenue -1 Humphrey Street Marblehead MA 01945 100 Cummings Center - Suite 101-F Beverly, MA 01915 781-631-5500 customercare@marblebank.com Electronic Funds Transfer - Your Rights
More informationDriving License. National Insurance Number
STAR has teamed up with Prevention of Fraud in Travel (PROFiT) and the Fraud Intelligence Network (FIN) to offer our members the best advice about fraud prevention. We recognise the increasing threat of
More informationesign Online Digital Signature Service
esign Online Digital Signature Service Government of India Ministry of Communications and Information Technology Department of Electronics and Information Technology Controller of Certifying Authorities
More informationMARYLAND IDENTITY THEFT RANKING BY STATE: Rank 10, 85.8 Complaints Per 100,000 Population, 4821 Complaints (2007) Updated January 29, 2009
MARYLAND IDENTITY THEFT RANKING BY STATE: Rank 10, 85.8 Complaints Per 100,000 Population, 4821 Complaints (2007) Updated January 29, 2009 Current Laws: A person may not knowingly, willfully, and with
More informationFrequently Asked Questions
PCI Compliance Frequently Asked Questions Table of Content GENERAL INFORMATION... 2 PAYMENT CARD INDUSTRY DATA SECURITY STANDARD (PCI DSS)...2 Are all merchants and service providers required to comply
More informationUnderstanding and Combating Online Fraud in 2014
Understanding and Combating Online Fraud in 2014 Fraud is pervasive online and high-risk merchants must be vigilant in employing a multi-layered, comprehensive approach to security and risk management.
More informationDeterring Identity Theft. The Federal Trade Commission estimates that as many as 9 million Americans have their identities stolen each year.
Deterring Identity Theft The evolving threats of Identity Theft The Federal Trade Commission estimates that as many as 9 million Americans have their identities stolen each year. Identity theft complaints
More informationUSDA: Handling Fraud and Disputes. Deanna Hanson CPS Fraud Support Analyst
USDA: Handling Fraud and Disputes Deanna Hanson CPS Fraud Support Analyst Agenda What is fraud? Fraud trends Fraud case lifecycle Fraud and dispute process Tips to prevent fraud 2 Fraud Overview and Trends
More informationATM Card Application
ATM Card Application Name Tax ID Date of Birth Address City, State, Zip Phone I wish to access the following accounts with my ATM Card. I understand that only the account I have designated as "primary"
More informationFFIEC CONSUMER GUIDANCE
FFIEC CONSUMER GUIDANCE Important Facts About Your Account Authentication Online Banking & Multi-factor authentication and layered security are helping assure safe Internet transactions for banks and their
More informationAn Oracle White Paper July 2010 U.S. CARD FRAUD
An Oracle White Paper July 2010 U.S. CARD FRAUD Contents Card fraud can be placed into six categories:... 3 2 Card fraud costs the U.S. card payments industry an estimated US$8.6 billion per year. Although
More informationIntercepting your mail. They can complete change of address forms and receive mail that s intended for you.
At SunTrust, we re committed to protecting your accounts and identity. That s why we ve created this Identity Theft Guide. This guide provides information about online fraud and identity theft, as well
More informationCREDIT CARD PROCESSING GLOSSARY OF TERMS
CREDIT CARD PROCESSING GLOSSARY OF TERMS 3DES A highly secure encryption system that encrypts data 3 times, using 3 64-bit keys, for an overall encryption key length of 192 bits. Also called triple DES.
More informationProtect yourself against fraud
With the approach of festive season and the shopping boom associated with this time of year, we would like to warn you about the ways used by fraudsters to trick unsuspecting members of the public. Here
More informationBeyond passwords: Protect the mobile enterprise with smarter security solutions
IBM Software Thought Leadership White Paper September 2013 Beyond passwords: Protect the mobile enterprise with smarter security solutions Prevent fraud and improve the user experience with an adaptive
More informationTestimony of Scott Talbott, Sr. V.P. for Government Relations, Electronic Transactions Association (ETA)
Testimony of Scott Talbott, Sr. V.P. for Government Relations, Electronic Transactions Association (ETA) House Small Business Committee Hearing on the EMV Deadline and What It Means for Small Business
More informationDEBIT MASTERCARD APPLICATION
DEBIT MASTERCARD APPLICATION Hickory Point Bank s Debit MasterCard - the only card you need Our Debit MasterCard gives you a fast, economical and convenient way to purchase the products and services you
More informationIMPORTANT ACCOUNT INFORMATION FOR OUR CUSTOMERS from. The Roscoe State Bank 117 Cypress St. Roscoe, TX 79545 (325)766-3311
IMPORTANT ACCOUNT INFORMATION FOR OUR CUSTOMERS from The Roscoe State Bank 117 Cypress St. Roscoe, TX 79545 (325)766-3311 ELECTRONIC FUND TRANSFERS YOUR RIGHTS AND RESPONSIBILITIES Indicated below are
More informationIMPORTANT ACCOUNT INFORMATION FOR OUR CUSTOMERS from
IMPORTANT ACCOUNT INFORMATION FOR OUR CUSTOMERS from First Security Bank of Deer Lodge 311 Milwaukee Ave P.O. Box 629 Deer Lodge, MT 59722 (406)846-2300 ELECTRONIC FUND TRANSFERS YOUR RIGHTS AND RESPONSIBILITIES
More informationIDENTITY THEFT WHAT YOU NEED TO KNOW. Created by GL 04/09
IDENTITY THEFT WHAT YOU NEED TO KNOW Created by GL 04/09 Table of Contents 1. What is Identity Theft? 2. How Do Thieves Steal An Identity? 3. What Do Thieves Do with Stolen Identities? 4. What Can I Do
More informationCOLORADO IDENTITY THEFT RANKING BY STATE: Rank 8, 89.0 Complaints Per 100,000 Population, 4328 Complaints (2007) Updated November 28, 2008
COLORADO IDENTITY THEFT RANKING BY STATE: Rank 8, 89.0 Complaints Per 100,000 Population, 4328 Complaints (2007) Updated November 28, 2008 Current Laws: A person commits identity theft if he or she: Knowingly
More informationNewhall County Water District 23780 N. Pine Street P.O. Box 220970 Santa Clarita, CA 91322-0970 Telephone: (661) 259-3610 Facsimile: (661) 259-9673
Newhall County Water District 23780 N. Pine Street P.O. Box 220970 Santa Clarita, CA 91322-0970 Telephone: (661) 259-3610 Facsimile: (661) 259-9673 AGENDA ITEM E3 TO: FROM: Governing Board of Directors
More informationCredit/Debit Card Processing Requirements and Best Practices. Adele Honeyman Oregon State Treasury Training Specialist
Credit/Debit Card Processing Requirements and Best Practices Adele Honeyman Oregon State Treasury Training Specialist 1 What? What do I need to know about excepting credit cards? Who s involved, how it
More informationEAA Policy for Accepting and Handling Credit and Debit Card Payments ( Policy )
EAA Policy for Accepting and Handling Credit and Debit Card Payments ( Policy ) Background Due to increased threat of identity theft, fraudulent credit card activity and other instances where cardholder
More informationInformation to Protect Our Customers From Identity Theft
Our Customers From Identity Theft Identity (ID) Theft Capital One understands that ID Theft is a growing concern of our customers, and that it is a frustrating experience for victims. We share these concerns
More informationRHODE ISLAND IDENTITY THEFT RANKING BY STATE: Rank 34, 56.0 Complaints Per 100,000 Population, 592 Complaints (2007) Updated January 5, 2009
RHODE ISLAND IDENTITY THEFT RANKING BY STATE: Rank 34, 56.0 Complaints Per 100,000 Population, 592 Complaints (2007) Updated January 5, 2009 Current Laws: A person commits the crime of identity fraud if
More informationAIB Merchant Services AIB Merchant Services Quick Reference Guide Ingenico
AIB Merchant Services AIB Merchant Services Quick Reference Guide Ingenico AIB Merchant Services AIBMS Quick Reference Guide This quick reference guide has been designed to answer the most common queries
More informationVisa Merchant Best Practice Guide for Cardholder Not Present Transactions
Visa Merchant Best Practice Guide for Cardholder Not Present Transactions Table of Contents Section 1 About This Guide 03 Section 2 Merchant Procedures 05 Section 3 Authorisation 07 Authorisation Procedures
More informationIndependent Bank 230 W Main St Ionia, MI 48846 800.300.3193 www.independentbank.com ELECTRONIC FUND TRANSFER AGREEMENT AND DISCLOSURE
230 W Main St Ionia, MI 48846 800.300.3193 www.independentbank.com ELECTRONIC FUND TRANSFER AGREEMENT AND DISCLOSURE For purposes of this disclosure and agreement the terms "we", "us" and "our" refer to
More informationThe Webster Visa Prepaid Debit Card Frequently Asked Questions
Contact Us Welcome to Webster Bank. Please contact our Card Services support line at 866.242.0861 with any questions or concerns, 24/7. Thank you for being a valued Webster Customer! The Webster Visa Prepaid
More informationApplication of Biometric Technology Solutions to Enhance Security
Application of Biometric Technology Solutions to Enhance Security Purpose: The purpose of this white paper is to summarize the various applications of fingerprint biometric technology to provide a higher
More informationMay 2010. For other information please contact:
access control biometrics user guide May 2010 For other information please contact: British Security Industry Association t: 0845 389 3889 f: 0845 389 0761 e: info@bsia.co.uk www.bsia.co.uk Form No. 181.
More informationELECTRONIC FUNDS TRANSFER SERVICES PROVIDED
411 McMurray Road Bethel Park, PA 15102 Phone: (412) 409-2265 ELECTRONIC FUNDS TRANSFERS-REGULATION E YOUR RIGHTS AND RESPONSIBILITIES For purposes of this disclosure the terms "we", "us" and "our" refer
More informationSECTION: SUBJECT: PCI-DSS General Guidelines and Procedures
1. Introduction 1.1. Purpose and Background 1.2. Central Coordinator Contact 1.3. Payment Card Industry Data Security Standards (PCI-DSS) High Level Overview 2. PCI-DSS Guidelines - Division of Responsibilities
More informationFrequently Asked Questions: Identity Theft Red Flags and Address Discrepancies
Frequently Asked Questions: Identity Theft Red Flags and Address Discrepancies The staff of the Board of Governors of the Federal Reserve System (FRB), Federal Deposit Insurance Corporation (FDIC), National
More information