Risk Management: Article Archives

The changing nature of card payment fraud

October 2010

As credit and debit card payments have become the primary payment instrument in retail transactions, awareness of identity theft and concerns over the safety of payments have increased. Traditional forms of card payment fraud are still an important threat, but fraud resulting from unauthorized access to payment data appears to be rising, and we are only beginning to get a sense of the dimensions of the problem. Read this excerpt from the Economic Review to learn more.
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Bank revenues and fraud detection: A marriage made in heaven?

July 2010

This article is a reprint from the May 24, 2010 Portals and Rails blog. Richard R. Oliver, executive vice president at the Federal Reserve Bank of Atlanta, discusses account takeovers — or “man in the middle” attacks — and the UCC requirement that makes banks responsible for using “commercially reasonable” security techniques to protect the data assets of the customer and bank. Learn about the potential for revenue opportunities from fee-based fraud detection services.
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Global challenge: Catching crooks while protecting privacy

April 2010

This article is a reprint from the March 15, 2010 Portals and Rails blog. Richard R. Oliver, executive vice president at the Federal Reserve Bank of Atlanta, discusses how the Retail Payments Risk Forum is working with various parties to find ways to synthesize the conflicting goals of privacy and enforcement to create a more directed and timely approach to catching the bad guys.
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An open dialogue about emerging payments risks

February 2010

The Retail Payments Risk Forum hosted its annual conference to provide a venue to discuss emerging risk issues and to identify actions participants can take to collaboratively address risk issues. Learn more about the challenges and opportunities that were identified for payments risk management.
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Retail Payments Risk Forum: Catalyst for collaboration

August 2009

The Atlanta Fed’s Retail Payments Risk Forum was formed in 2008 to serve as a catalyst for collaboration among those seeking to improve the detection of emerging payment risks and fraud. The online forum facilitates industry dialogue and offers e-mail and RSS feed subscriptions to help members stay current on issues and share best practices.
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Payments Fraud: Collaboration needed to mitigate fraud

June 2009

In this final article in a 3-part series on payments fraud, we learn that as consumers, merchants and payments providers struggle with the issue of payments fraud, the goal is not to eliminate fraud but rather to generate better risk-management practices that strike a balance between allowing for risks in the payments system and dictating payments choices.
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Risk mitigation tools play a starring role in fighting fraud

June 2009

Did you know that over 70 percent of respondents to AFP’s 2009 fraud survey experienced attempted or actual payments fraud in 2008? We shine the spotlight on our FedACH Risk Origination Monitoring Service that can help mitigate ACH risk and fight industrywide fraud.
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Payments Fraud: Payments Technology and Innovation

May 2009

On the one hand, technological innovations have enabled market participants to authenticate payments information more accurately in real time, greatly enhancing the security of electronic payment transactions. On the other hand, the speed of payments innovation can accelerate fraud risks. We’ll hear how industry experts view the impact technology has had on payments fraud in this article, the second of a 3-part series.
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Payments fraud: Perception Versus Reality

April 2009

Fraud is a very real threat to the payments system’s efficiency. Fraud can be perpetrated on any type of payments device, including credit and debit cards, cash, checks, online or mobile payments and automated clearing house (ACH). We’ll take an in-depth look at payments fraud in this article, the first of a three-part series.
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