Page 11 - index
P. 11
RESEARCH, ANALYSIS & TRENDS
regarding bribery, tax evasion and sciousness, there may be more As most merchants are not yet
corporate accounting fraud. The such accounting fraud on the way, equipped to accept smart cards,
programs are largely still in the be- according to Zack. many credit card users carry hybrid
ginning stages, but have already cards that include both a microchip
had major payouts.” One indication is the effort being and a magnetic stripe. Moreover,
made by the Security and Ex- these cards may or may not require
While those are the top predictions change Commission (SEC) to step a PIN to complete a transaction.
for 2015, the list doesn’t end there. up enforcement in this area. Embossed credit cards are slowly
Here are two more prognostications being supplanted by smooth credit
for fraud in the new year: Credit card security features will cards in order to prevent physical
continue to evolve. This prediction card imprints. Additionally, local
There will be a re-emergence of comes from the ACFE’s 2015 bank branches are able to produce
financial statement fraud. While Fraud Examiners Manual: “As the unembossed debit cards within
Enron, WorldCom and other major United States migrates to smart minutes, which eliminates the need
financial statement frauds are start- cards, several variations will exist to send cards through the mail.” ◊
ing to fade from the public con- until a single standard is adopted. By MediaBUZZ
MediaBUZZ Pte Ltd - Independant ePublisher for Asia
regarding bribery, tax evasion and sciousness, there may be more As most merchants are not yet
corporate accounting fraud. The such accounting fraud on the way, equipped to accept smart cards,
programs are largely still in the be- according to Zack. many credit card users carry hybrid
ginning stages, but have already cards that include both a microchip
had major payouts.” One indication is the effort being and a magnetic stripe. Moreover,
made by the Security and Ex- these cards may or may not require
While those are the top predictions change Commission (SEC) to step a PIN to complete a transaction.
for 2015, the list doesn’t end there. up enforcement in this area. Embossed credit cards are slowly
Here are two more prognostications being supplanted by smooth credit
for fraud in the new year: Credit card security features will cards in order to prevent physical
continue to evolve. This prediction card imprints. Additionally, local
There will be a re-emergence of comes from the ACFE’s 2015 bank branches are able to produce
financial statement fraud. While Fraud Examiners Manual: “As the unembossed debit cards within
Enron, WorldCom and other major United States migrates to smart minutes, which eliminates the need
financial statement frauds are start- cards, several variations will exist to send cards through the mail.” ◊
ing to fade from the public con- until a single standard is adopted. By MediaBUZZ
MediaBUZZ Pte Ltd - Independant ePublisher for Asia
