In an article from Finextra, they are reporting that, according to AFP, over 70% of US Firms were at taken a hack at in 2008. Does that mean you've got a 30% chance your PIN won't get hacked if a software based Internet PIN Debit Solution takes off? Hope so! But wait!
The article goes on to say that 80% of organizations with $1 Billlion plus in revenue had a hack taken at 'em. So, we've just reduced your chances to 20%! Our CEO say 100%, so does that mean there's an 80% chance he's right? Numbers are great. PIN Numbers are the Holy Grail Stay tuned!...oh, and after viewing (click to enlarge) the graphic below, don't forget to make any connections you may perceive about the long-term security off a software application that uses the web browser. From Finextra. Payments fraud rampant in US organizations - survey
Over 70% of US firms were victims of attempted or actual payments fraud in 2008, according to a survey from the Association for Financial Professionals (AFP).
The JP Morgan Treasury Services sponsored survey of 629 corporate treasury and finance professionals found that large organizations were more likely to have experienced payments fraud.
A massive 80% of firms with annual revenues over $1 billion were victims of payments fraud in 2008 compared with 63% of organisations that had revenues of under $1 billion.
Nearly a third of survey respondents report that incidents of fraud increased in 2008 compared to 2007. Further, almost 40% experienced increased fraud activity during the second half of 2008 as economic conditions worsened in the US.
Nearly nine out of ten organizations affected in 2008 were victims of cheque fraud. ACH debit affected 28%, consumer credit or debit cards, 18%, corporate/commercial cards, 14%, ACH credits, seven per cent, and wire transfers, six per cent.
Around two thirds of companies that were victims of actual or attempted payments fraud in 2008 experienced no financial loss, and among those that did, the typical amount was a modest $15,200.
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