OpRisk Asia: Losses due to card fraud growing, says Visa risk manager

credit-card

Losses due to credit card fraud are rising, and regulators and central banks are becoming increasingly concerned, delegates at the OpRisk Asia conference in Singapore heard today.

Ingo Noka, head of country risk management for Asia-Pacific, central Europe, the Middle East and Africa at Visa, told the conference that the fraud-to-sales ratio had fallen steadily throughout the 1990s, but had remained flat during the past decade at about 5–6 basis points. With sales volumes increasing every year

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