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U.S. Card Skimming Fraud Grows 700+% in First Half of 2022

FICO

And card skimming is big business; the FBI estimates that “skimming costs financial institutions and consumers more than $1 billion each year.”. Her roles have included developing a consumer authentication solution for Experian and managing credit and identity theft management applications. But here in the U.S.,

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Ex-NSA Director: ‘Cyberthreats As Bad As Ever’

PYMNTS

A debate ensued about two-factor authentication and the value of such security measures, with it boiling down to one question: how to balance consumer authentication without a frictionless commerce experience. Securing identity should be at top of mind — all, of course, while keeping consumer privacy in mind.