First Time That Federal Reserve Study Addresses Fraud Related to Payments According to the study, in 2012, 13.7 million fraudulent transactions involved credit cards, totaling $2.3 billion; 14.9 million involved debit or prepaid cards, totaling $1.5 billion; and 1.3 million, totaling $300 million, were fraudulent ATM withdrawals. In her piece on bankinfosecurity.com (link to article), Tracy Kitten cites industry experts as saying “the new fraud data in the study [though] based on a 2012 survey of more than 1,300 U.S. banking institutions, payments processors and…
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