The art of fraud detection in the age of EMV

first_imgWith EMV technology making its way into the U.S. marketplace, American consumers can finally breathe a sigh of relief at checkout. Or can they?While the global security standard is expected to cut U.S. card-present fraud dramatically over time, in the near-term experts are cautioning consumers to remain on high alert.“Converting to EMV security technology here in the U.S. is critically important in the long-term fight against card fraud,” said Bill Freer, risk manager for CO-OP Financial Services. “However, what we are seeing in the marketplace right now is actually a spike in counterfeit card fraud that many attribute to the nation’s rush to this new standard.”Freer and other experts believe card fraud is rising because fraudsters view the current transition to EMV as a small window of time in which they can still easily collect mag stripe data.“It only makes sense for fraudsters to accelerate their efforts while merchants and ATMs are still routinely running mag stripe transactions,” he said. “Having mag stripe data makes it relatively easy for someone to create viable counterfeit cards – and fraudsters are getting much smarter about how to use these cards successfully as well.”Fraud is Moving into Your NeighborhoodAccording to Freer, one of today’s fastest growing forms of card fraud is known as “footprint fraud.” “This is a dynamic in which the fraudster uses a counterfeit card in very close proximity to the cardholder’s home,” he said. “This practice can make it very difficult to distinguish fraudulent transactions from a cardholder’s legitimate card usage.”Another concerning trend Freer notes is an increase in “small test fraud,” in which a counterfeit card is first used for a very small test transaction. If the test transactions are successful, the card is then used again to make a major purchase. “The message here for credit unions and their members is that all unauthorized transactions need to be reported and investigated as soon as they are identified, no matter how small they are,” said Freer.ATM Skimming on the RiseFreer also advises credit unions to instruct members on ATM safety.“Whenever possible, members should use ATMs that are familiar to them and preferably located within a credit union vestibule,” he said. “It is extremely important to be attentive at the ATM and aware of what the terminal looks like. If the screen has a different appearance, this could be a sign that a skimmer or PIN capture device has been installed to collect card information. And if there is a new holder for pamphlets, cameras may be hidden inside to record PINs. Members should look for anything out of the norm and avoid the transaction if they notice anomalies.”To protect members from these and other forms of card fraud, Freer advises credit unions to partner with top service providers staffed with fraud detection analysts and equipped with the most advanced technologies.“New data analytics solutions can save credit unions and their members time, money and aggravation by very quickly transforming volumes of transaction and demographic data into actionable information,” said Freer. “With these tools, fraud analysts can proactively identify risky, suspicious transactions before fraud develops on them. Members can play a key role as well by utilizing new technologies for card controls and alerts that block fraudulent transactions before they can occur.”He continued, “Credit unions should also remind members to respond as promptly as possible whenever they receive a call or message from a fraud analyst. Only the cardholder knows exactly where and when the card has been used, and time is always of the essence in the fight against fraud.”Read about the latest developments in the transition to chip-card technology in the EMV Common AID White Paper available from CO-OP Financial Services. 28SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr,Bill Prichard Bill Prichard is Senior Manager, Public Relations and Corporate Communications, for CO-OP Financial Services (www.co-opfs.org), Rancho Cucamonga, Calif., a financial technology provider to credit unions. Prichard can be … Web: www.co-opfs.org Detailslast_img read more

Tompkins County League of Women Voters helps people get registered

first_imgThis included information on polling places, how to vote early, and how to request and fill out an absentee ballot. They spent the day not only helping people get registered, but offered a one stop shop for all of the information voters need to know before the election. ITHACA (WBNG) — The League of Women Voters in Tompkins County marked National Voter Registration day by teaming up with the Tompkins County Public Library to give residents an easy opportunity to register to vote. Sophia McKissick, community engagement and outreach librarian for the library said she decided to participate in the event because she wanted to help make sure as many people as possible had the chance to vote. League Co-President Sally Grubb says with the COVID-19 pandemic ongoing, it’s more important than ever to get the word out about how to vote. center_img “Every little bit helps and it’s so important that as many people as possible are ready to vote on election day and make sure their voices are heard,” she said. “This year with all of the problems with the pandemic and people being afraid of being in big crowds of people there has been a lot of confusion,” she said. “We must remember it’s our civic duty to participate.” The event ran from 10 a.m. to 6 p.m. at the Tomkins County Public Library’s Green Street entrance.last_img read more

Qatar reports three new virus cases at World Cup sites

first_img“The Supreme Committee for Delivery & Legacy [SC] has confirmed that two staff members who work for a SC contractor have tested positive for COVID-19,” organizers said in a statement. “In addition, six workers on SC projects have tested positive.”On Wednesday the SC said that staff at three of the seven stadiums being built from scratch for the 2022 tournament had been affected.The SC was following health ministry guidance to respond to the cases and all those affected would continue to be paid and receive free healthcare, the statement added. The timings of the competition, due to be held in November and December of 2022, remain unchanged by the coronavirus pandemic which has already forced the postponement of the European football championships and the Tokyo Olympics. Both will now take place in 2021.   Qatar has detected three more coronavirus cases among workers on World Cup stadiums, organizers said Thursday, bringing the number of infections among those involved in 2022 tournament construction to eight.The Gulf nation has reported seven deaths from the COVID-19 disease and 4,103 cases in total, announcing the first infections in stadium workers on Wednesday.Building work for the stadiums and infrastructure to stage the tournament has continued through the crisis even as non-essential retail has been halted and mosques, parks and restaurants have closed.center_img Topics :last_img read more

Girl dies after crocodile snatches her when swimming in South Kalimantan river

first_imgA girl identified as Devi, 17, has died after being snatched by a crocodile while she was swimming in the Sebamban River, Tanah Bumbu, South Kalimantan, on Sunday.A witness, Jumia, reported the incident to the police, saying she had seen a crocodile pounce on Devi’s hand and drag her away.Devi was found five hours later stuck under a bridge around 100 meters from where she had been swimming.”When found, the victim’s condition was very critical; she was bleeding from her nose, mouth and hand. Officers rushed her to the nearest community health center, but they could not save her,” the head of the Tanah Bumbu Disaster Mitigation Agency (BPBD), Eryanto Rais, said on Sunday as quoted by Antara news wire. Topics :last_img read more

Settle before the Oscars and the party could be at your place

first_imgJust listed at Woody Point is this massive house complete with it’s own home cinema. Oscars party anyone?A CUSTOM-built cinema with surround sound and tiered flooring takes centre stage in this Woody Point home on the Redcliffe Peninsula that is being offered for sale for the first time.The architecturally-designed house at 18 Brighton St, Woody Point, spreads over 330sq m and was built for Ron and Helen Carter 10 years ago. The undercover entertainment area is supported by a built-in barbecue area around the corner.A built-in fish pond, eight-year-old grapevines in the courtyard, and three large skylights across the covered entertainment, dining and lounge areas bring nature into the design space.The most recent addition to the property has been laying sandstone flagging in the courtyard.Mr and Mrs Carter originally moved from Chelmer to Woody Point, building a house to suit their grown family, with children visiting occasionally.“We’d always wanted to live here and we’re not moving on from Woody Point, we love it here,” Mr Carter said.“I’m a machinist and mechanic and I work from home, so I need a bigger shed and my wife needs a smaller house.” FOLLOW THE COURIER-MAIL REAL ESTATE TEAM ON FACEBOOK Large skylights flood the main living areas with light.The ground level also has the fourth bedroom with ensuite, a separate study, storage rooms and the home cinema. SEE WHAT ELSE IS FOR SALE IN WOODY POINTcenter_img With room for four cars and a caravan in a triple garage and off-street accommodation, 18 Brighton St, Woody Point could never be accused of skimping on space.Upstairs has three large bedrooms, two with walk-in wardrobes, one with an ensuite and all with access to an upstairs retreat and main bathroom.The ground floor has the main living zones surrounded by a covered entertaining area, large courtyard, and built-in barbecue area with mains gas connection and servery access to the kitchen. The front mailbox is on a timer and lights up at night.It also has two large bedrooms with ensuites and outdoor entertainment areas that are roomy enough to host a party for 40-50. The courtyard is bookended by extra car accommodation.The home cinema is the second largest room in the house and has built-in shelving, airconditioning and is wired for HDMI.Insulated walls and floors feature throughout the two-storey house on a 501sq m block.More from newsLand grab sees 12 Sandstone Lakes homesites sell in a week21 Jun 2020Tropical haven walking distance from the surf9 Oct 2019“We designed it open plan so you can walk out to the alfresco area,” Mr Carter said.“Out the back is my favourite place, because the back area has 4.5m ceilings.”last_img read more

Arevalo local nabbed for ‘hitting’ woman on head

first_imgAccording to police investigation,Cullo and Erwena Popelo have a heated argument over the latter’s unpaid debtaround 12:45 p.m. on Nov. 7.                      Cullo was detained in the Arevalopolice station’s custodial facility./PN Police identified him as residentAlfredo Cullo.  This prompted Cullo to hit Popelo witha plastic hanger on the head, police said. ILOILO City – A man was arrested forhitting a woman on the head in Barangay Calaparan, Arevalo district.     last_img read more

2 scrap metal ‘thieves’ caught

first_imgThey were identified as 24-year-old AlexLosabia and his 17-year-old cohort, a police report showed. According to police investigation, thejunkshop owner – whose name was not mentioned in the report – chanced upon thesuspects stealing load of scrap metal around 10:30 p.m. on Dec. 20. The suspects were detained in the lockupcell of the Santa Barbara police station, facing charges./PNcenter_img ILOILO City – Police nabbed a 24-year-oldlaborer and his minor companion for allegedly stealing scrap metal at ajunkshop in Barangay Bolong Oeste, Santa Barbara, Iloilo. last_img read more

League Cup draw

first_imgManchester City kicked off their League Cup defence in style last night winning 7-0 at home to Sheffield Wednesday.The holders will welcome Newcastle in the fourth round, after the Tynesiders won 3-2 after extra-time at Crystal Palace.Chelsea got past Bolton 2-1, and will now go to League Two side Shrewsbury. Spurs 3-1 victory over Nottingham Forest set up a home game with Brighton, who won 3-0 at Burton.West Brom’s 3-2 win over Hull means they’ll now go to Bournemouth.In the other games drawn last night, Liverpool will host Swansea, Stoke will go against Southampton, MK Dons will play Sheffield United, and it’ll be Fulham against Derby.last_img read more

Advocaat To Leave Role As Netherlands’ Head Coach

first_imgOn his arrival in Scotland, Advocaat confirmed the news in a chat with SkySports reporters. He said:“These are the final two games for me and then after this I’m stopping with the national team.”In a separate interview, Advocaat told Dutch broadcaster NOS that he is undecided on his next job. The former South Korea and Russia coach said:“I have not yet said what I’m going to do and therefore clubs do not know that I’m available or not.”“Let’s get these two games out of the way and then we will see what comes into my path. I’m doing the same as Louis van Gaal and never saying ‘never’.” he concluded.Scotland will host the Netherlands in Aberdeen on Thursday night before Dick Advocaat’s team embark on a trip to Bucharest to face Romania on Tuesday in what would be his last game in charge.RelatedInternational Friendlies Wrap (Thursday): United Flop Depay Stars As Netherlands Edge Scotland In Advocaat’s Penultimate Game.November 10, 2017In “Features”Famous Quotes Of 2017 (Part 3)January 1, 2018In “England”NFF Decide Gernot Rohr’s Future Following AFCON 2019 Bronze FinishJuly 31, 2019In “NFF” Dick Advocaat has revealed that he will leave the role as Netherlands head coach after this month’s friendly games with Scotland and Romania.The 70-year old began his third spell in charge of the Oranje after the dismissal of former coach Danny Blind in May but his latest spell will end at the end of his contract later this month.Dick Advocaat has helped stabilise the team from the shambles witnessed under the aforementioned Blind.He masterminded four wins from five World Cup qualifiers but that was not enough for the team as they finished in third place behind France and Sweden in Group A thereby missing out on a place in Russia.last_img read more

Parvus pushes for William Hill 2017 sale

first_img SBC Magazine Issue 10: Kaizen Gaming rebrand and focus for William Hill CEO August 25, 2020 Altenar: Supporting expansion plans in Denmark and Portugal August 20, 2020 Share Submit Related Articles StumbleUpon Share William Hill accelerates transformation agenda to overcome COVID realities August 5, 2020 Mads Eg GensmannThe Sunday Times has this weekend reported that London hedge fund Parvus Asset Management (Parvus) is lobbying for a 2017 sale of William Hill.Headed up by Danish financier Mads Eg Gensmann, Parvus is currently William Hill’s biggest investor with a 14% shareholding.The Sunday Times reports that Gensmann has been pushing William Hill governance for number months on the sale of FTSE 250 company, which competes alone against the newly merged entities of Ladbrokes Coral, Paddy Power Betfair and GVC Holdings in the saturated betting sector.The London hedge fund favours a sale of William Hill outright, over any potential industry merger. Last October Parvus terminated £5 billion merger discussions between William Hill and Toronto-listed Amaya Inc, stating that the business combination has ‘No logic & No value’.This January William Hill governance had to issue its second profit warning for its full-year 2016 performance, as the operator was hit by customer friendly December results in football and racing lowering its group profits by £20 million (FY 2016 earnings guidance -£260-280 million).William Hill governance will present its full-year 2016 results on Friday, 24 February 2017, with industry analysts further expecting a corporate update on the firm’s search for a new Chief Executive, following the departure of former incumbent James Henderson last August.last_img read more