According to consulting firm Treasury Strategies losses caused by fraud could result in the closing of as many as 10 financial institutions within the next three years. According the Barry Barretta, a principal at Treasury Strategies, “Fraud risk in the industry is at an unprecedented..
Carla Balakgie, CEO of the Electronic Transactions Association says that the current economic condition and malicious fraudsters with criminal intent are among the biggest problems facing the payment processing industry.According to Balakgie, the downturn in the economy is the biggest problem..