RISK MANAGEMENT AND PREVENTION OF FRAUD IN CARD TRANSACTIONS
RISK MANAGEMENT AND PREVENTION OF FRAUD IN CARD TRANSACTIONS

Summary/Abstract: Credit institutions issuing and accepting cards have responsibility for identifying, evaluating and mitigation fraud and activities with potentially risk. Risk management is necessary to avoid losses that may occur both directly through fraud and indirectly through loss of customer confidence regarding safety card operations. The risk management in cards activities aims to identifying those events which by their appearance would produce adverse effects on the activity, possible generating financial loss and find solutions to avoid them and reduce their effect. Credit card fraud refers to any situation where a person deliberately uses: card obtained through illegal methods, a counterfeit card, a valid card code, in order to obtain cash, goods or undue services.

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