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.

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