The problem with online workaround security solutions
Online fraud is without doubt the weakest link in the modern fraud landscape. In 2010, Card Not Present fraud was at £226.9m, representing 62% of total UK card fraud † - the growing need for a device to enable secure online banking and secure eCommerce is clear. Finding a solution, which satisfies both security requirements & consumer needs, has proved a challenge to the payments industry, which has been trying to find a solution since the inception of eCommerce. To date, the only available options have been workaround solutions that further challenge the consumer to remember ever more logon & password combinations. None of this growing plethora of workarounds has proved successful & Visa have reported a global increase in CNP fraud up from 18% of total fraud in 2000 to 49% in 2010.
Greengage ahead of the curve?
DECC have just published (30th March 2011) their response to consultation on the proposals set out in their July 2010 Prospectus for the Smart Metering Implementation Programme. Engage Consulting have conveniently summarised the response by publishing a briefing of the response content. You can view this briefing by clicking here.
