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"In 2018, over a third of the world’s consumers experienced debit or credit card fraud,” says Justin Hansen, security architect at Venafi.





"In 2018, over a third of the world’s consumers experienced debit or credit card fraud,” says Justin Hansen, security architect at Venafi.
Financial fraud cost UK consumers £732m in 2017, with authorised push payments (APP) costing an additional £236m. UK Finance  figures report that 58% of fraud involves payment cards, opposed to 16% for online banking and 1% for cheques. “In 2018, over a third of the world’s consumers experienced debit or credit card fraud,” says Justin Hansen, security architect at Venafi. “This may have a serious impact on credit assessments, as organizations are forced into a hard choice of either excluding customers that appear risky – potentially through no fault of their own – or relaxing their assessment criteria and opening themselves up to additional risk.
“The US has already seen the impact of this, as no-fee consumer credit freezes were introduced in 2018 as part of a roll-back of the Dodd-Frank Act. Unfortunately, most organizations are focusing on the impact of human identity theft, while ignoring the consequences of weak machine identity protection.”

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The cashless society from an ethical point of view

The debate about the move towards a cashless society has been at the center of the scene for several years, now. Various angles have been taken by economists, politicians, banking institutions and sociologists. Beyond the technicalities of the debate, lies the question of freedom, of inter-citizen solidarity and of governmental responsibility. The debate cannot remain in the hands of financial specialists, it is first and foremost an ethical, political and societal issue.

The cashless society from an ethical point of view









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