Insurance provider RSA has created a package which it believes will help businesses fight credit card fraud.
Retailers are being offered a package by insurance provider RSA which the company claims should help them tackle credit card fraudsters in future.
Credit card fraud has been on the rise in recent years, with figures from UK payments association Apacs revealing that card fraud in total hit £609.9 million last year, up 14 percent on 2007. A particular problem is card-not-present fraud, where illegal transactions take place over the phone or internet.
In many cases, liability for fraud lies with the vendor, which can often result in large payouts.
Retailers are required to comply with the Payment Card Industry's Data Security Standard, which regulates how card data should be processed and stored. The new initiative from RSA aims to help retailers comply with these standards, and offers workshops, questionnaires and other measures.
"Retailers currently face a great deal of challenges with fragile sales and regular and frequent changes to legislation," said RSA retail director Des Cross. "The threat of security attacks on their computer systems leading to the abuse of customer data is yet another growing worry for them and could prove costly to their reputation. We have created a package to help businesses keep all of these worries under control."
