The Payment Card Fraud: Current Realities and Prevention Measures
The active development of payment systems and the advent of electronic money have led to increased demand for the use of payment cards for financial transactions. This helps to reduce the «shadow economy». The article considers the dynamics of volumes of operations with payment cards. Some world cou...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
Research Centre of Industrial Problems of Development of NAS of Ukraine
2019-03-01
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| Series: | Bìznes Inform |
| Subjects: | |
| Online Access: | http://www.business-inform.net/export_pdf/business-inform-2019-3_0-pages-315_321.pdf |
| _version_ | 1818316771135848448 |
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| author | Kolodiziev Oleh M. Kotsiuba Olena V. |
| author_facet | Kolodiziev Oleh M. Kotsiuba Olena V. |
| author_sort | Kolodiziev Oleh M. |
| collection | DOAJ |
| description | The active development of payment systems and the advent of electronic money have led to increased demand for the use of payment cards for financial transactions. This helps to reduce the «shadow economy». The article considers the dynamics of volumes of operations with payment cards. Some world countries have this figure approaching 90%. According to the results of the analysis it was defined that the most common transaction with payment cards in Ukraine is cash withdrawal. One of the motives to keep money in cash is a high level of fraud with payment cards. The most common types of crimes connected with payment cards are skimming, trapping, fishing and IVR fraud. In order to change the situation, it is necessary to spread public information about non-disclosure of private financial data, along with strengthening the quality standards of securing the data of the payment cards issued by the national banks in accordance with the PCI DSS requirements. |
| first_indexed | 2024-12-13T09:26:43Z |
| format | Article |
| id | doaj.art-4841edda94ec4396afac400c75e67c73 |
| institution | Directory Open Access Journal |
| issn | 2222-4459 2311-116X |
| language | English |
| last_indexed | 2024-12-13T09:26:43Z |
| publishDate | 2019-03-01 |
| publisher | Research Centre of Industrial Problems of Development of NAS of Ukraine |
| record_format | Article |
| series | Bìznes Inform |
| spelling | doaj.art-4841edda94ec4396afac400c75e67c732022-12-21T23:52:36ZengResearch Centre of Industrial Problems of Development of NAS of UkraineBìznes Inform2222-44592311-116X2019-03-01349431532110.32983/2222-4459-2019-3-315-321The Payment Card Fraud: Current Realities and Prevention MeasuresKolodiziev Oleh M.0Kotsiuba Olena V.1Simon Kuznets Kharkiv National University of EconomicsSimon Kuznets Kharkiv National University of EconomicsThe active development of payment systems and the advent of electronic money have led to increased demand for the use of payment cards for financial transactions. This helps to reduce the «shadow economy». The article considers the dynamics of volumes of operations with payment cards. Some world countries have this figure approaching 90%. According to the results of the analysis it was defined that the most common transaction with payment cards in Ukraine is cash withdrawal. One of the motives to keep money in cash is a high level of fraud with payment cards. The most common types of crimes connected with payment cards are skimming, trapping, fishing and IVR fraud. In order to change the situation, it is necessary to spread public information about non-disclosure of private financial data, along with strengthening the quality standards of securing the data of the payment cards issued by the national banks in accordance with the PCI DSS requirements.http://www.business-inform.net/export_pdf/business-inform-2019-3_0-pages-315_321.pdfpayment cardpayment systempayment card fraud |
| spellingShingle | Kolodiziev Oleh M. Kotsiuba Olena V. The Payment Card Fraud: Current Realities and Prevention Measures Bìznes Inform payment card payment system payment card fraud |
| title | The Payment Card Fraud: Current Realities and Prevention Measures |
| title_full | The Payment Card Fraud: Current Realities and Prevention Measures |
| title_fullStr | The Payment Card Fraud: Current Realities and Prevention Measures |
| title_full_unstemmed | The Payment Card Fraud: Current Realities and Prevention Measures |
| title_short | The Payment Card Fraud: Current Realities and Prevention Measures |
| title_sort | payment card fraud current realities and prevention measures |
| topic | payment card payment system payment card fraud |
| url | http://www.business-inform.net/export_pdf/business-inform-2019-3_0-pages-315_321.pdf |
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