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Card fraud down
BY IAIN SCOTT, ITWEB FINANCE EDITOR
[Johannesburg, 14 March 2006] -

 

 
Card fraud down

 

The UK's chip-and-PIN system cut plastic card fraud by 13% last year, according to the Association of Payment Clearing Services.

 

Losses due to the fraudulent use of credit and debit cards fell last year by £65 million to £439 million, BBC News reports. Most categories of fraudulent card use dropped, except for transactions over the phone, Internet or by mail.

 

Chip-and-PIN cards were introduced in 2004, with their use becoming required in shops from February this year.

 

Namibian card annoys

 

Pensioners in Namibia have expressed unhappiness about the new payment system through NamPost's smart card, reports The Namibian.

 

President Hifikepunye Pohamba recently introduced Smart Switch Namibia (SSN) and its product, the NamPost smart card. SSN is a joint venture between Net 1 Technologies and Namibia Post Limited, and it promises to offer all Namibians access to financial services and products.

 

But pensioners say the system is very slow compared with the previous one, which entailed using a Post Office savings bank book. They say NamPost officials are taking too long to help one person as they are still learning the new system.

 

US project delayed

 

The US government's smart-card project appears at risk of falling behind schedule.

 

The Washington Post reports that federal agencies are supposed to begin issuing government-wide identification cards that can vouch for the identity of federal employees and most contractors in October.

 

However, the Government Accountability Office warns that setting up and testing new ID systems may not be completed within deadlines set by the Bush administration.

 

I-Cube.   All rights reserved.  Revised: January 03, 2008 .