There is no denying the brutal impact of payment fraud, with $9 billion of annual criminal spending on US payment cards alone, according to research firm Javelin. Nearly six in ten information thefts studied in Verizon’s Data Breach Investigations Report involve payment details. Meanwhile, in-person card skimming continues to grow, with the last year witnessing a tripling of illegal reader installations at the new weak point, petrol pumps.
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