Posted: 06 Feb 2012 01:54 PM PST
Leading fraud consultancy UK Fraud has set out 10 predictions for the domestic fraud prevention market in 2012. The predictions are: 1. That the NFA (National Fraud Authority) will face major political pressure to deliver a fraud strategy that will make a real difference. The government will demand that it starts to demonstrate measurable annual fraud savings. These could be expected to be more than £10 billion. Simultaneously, there will be an increasingly public tussle for funds with the government's new Cyber Crime operation. The NFA will also face mounting pressure to adopt a more pan European and global perspective to combat fraud hitting the UK from overseas territories. 2. With the volume of traffic for e-commerce transactions increasing, fraudsters will target individual merchants and merchant groups. As a result, there will be: a. More co-operation across the merchant sector. b. More disintermediation of the merchant acquirer services. c. Greater use and development of acquirer anti-fraud enrichment services. d. Payment Service Providers (PSPs) will become more prevalent, with fraud solutions provided as an integrated part of the service they offer. e. Greater dissatisfaction with many existing fraud solutions, particularly with those that are less well conceived. 3. The USA has [...]
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