Online Fraud Plummets as European Banking Group Partners With RSA
Source: RSA Security
As one of the leading retail banks in Europe, with a number of market leading positions, this banking organisation serves over 30 million people. The challenge was to european banking group that was faced with mounting fraud costs following the introduction of an e-commerce scheme, 3D Secure, which shifted liability for online card fraud from e-commerce merchants to card issuers and card registration for 3D Secure password protection is not required until after the third e-commerce transaction, exposing the bank to an upsurge in fraud. Bank together with RSA, the Security Division of EMC, it developed and implemented a transaction monitoring solution for the bank's card holders, based on risk-based monitoring.