Algorithms keep fraud in check

Wednesday, 12 September 2007, 10:36 AM EST

Next time you travel overseas, complex mathematical formulas may be used to check that your spending patterns are not too far out of the ordinary. As credit cards and electronic money become more popular at home and abroad, banks are relying more on the use of transaction-monitoring algorithms to reduce fraud.

"The Australian banking community is moving toward chip and pin technology, which protects transactions at the point of sale in a traditional face-to-face environment," said Carl Clump, chief executive officer of Retail Decisions, a British-based card issuer and fraud detection company.

At Australian IT.

[ Read more ]




Spotlight

Leveraging network intelligence and deep packet inspection

Posted on 26 November 2014.  |  Tomer Saban, CEO of WireX Systems, talks about how deep packet inspection helps with identifying emerging threats, the role of network intelligence, and more.


Weekly newsletter

Reading our newsletter every Monday will keep you up-to-date with security news.
  



Daily digest

Receive a daily digest of the latest security news.
  

DON'T
MISS

Fri, Nov 28th
    COPYRIGHT 1998-2014 BY HELP NET SECURITY.   // READ OUR PRIVACY POLICY // ABOUT US // ADVERTISE //