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Why your PSP should be your best defence against fraud

Further dataⁱⁱ released by Financial Fraud Action UK (FFA UK) showed that payment card fraud accounted for losses of £618 million in 2016, an increase of nine percent over the previous year. With spending on cards up six percent year-on-year, this means card fraud as a proportion of spending equates to 8.3p for every £100 spent. Payment card fraud accounted for losses of £618 million in 2016.

These numbers considered, it’s never been more critical for merchants to tackle fraud head-on, and work with their PSP to ensure a robust fraud defence strategy not only exists, but is also reviewed regularly to optimise legitimate transactions. This report examines the challenges facing merchants when it comes to fraud prevention, and explores the methods they can utilise in order to implement a successful fraud strategy.

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The Payments Association exist to help drive the industry forward. As such the Payments Association may contact you about any future content or events that we think you may have a legitimate interest in. We will store your information securely and will never share your details with third parties other than the relevant resource(s) sponsor(s)/curator(s). You may opt out at any time. By clicking register you are agreeing to the terms of our Privacy Policy.

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