Analytics and decision management technology firm Fico has released its interactive map showing which states were hit the hardest by ATM fraud across the US in 2012.
The data shows that 20 US states recorded an increase in credit card fraud, nearly half of all card skimming reported by the firm’s card alert service occurred at bank ATMs, while 36% took place at retail Point-of-Sale (PoS) terminals and 18% occurred at white-label ATMs – machines not operated by banks. These results were significantly different from the data observed in 2011, when 79% of skimming incidents occurred at PoS terminals
“The prevailing fraud scheme has been ATM skimming because that only requires a personal identification number (PIN), not a signature – a finding that is clearly reflected in the map,” said John Buzzard, manager of Fico card alert service. “Skimming at bank-owned ATMs and white label/off-premise ATMs increased in 2012, and California, Florida and the Northeast were hit particularly hard.”
In its data concerning credit card fraud, Fico Labs found increases in 20 states, including seven states on the East Coast: Maine, Massachusetts, New York, North Carolina, Pennsylvania, Vermont and Virginia. The state with the largest increase in credit card fraud was South Dakota, where the rate jumped nearly 26%.
Far and away, the largest financial market on the planet is the foreign exchange currencies market, where on average individuals and organisations trade more than $5 trillion daily. In the FX world, the ability to master the market isn't considered a luxury for treasury officers–it's a necessity.
Apps are a critical part of treasury's shift into mobile banking as 67% of treasury and corporate finance professionals said mobile banking services are of particular interest to them in a recent survey.
Using data for predictive analytics is the future of banking success, argued Jean-Laurent Bonnafé, CEO of BNP Paribas, in his session on how the bank is reinventing its approach to innovate with and for corporates.
The annual BNP Paribas Cash Management University kicked off on Thursday morning with treasury professionals congregating in Paris from across Europe.