Face higher fraud rates with secure POS

While credit card data security has always been essential, recent trends may require more urgent actions from businesses. According to figures from ValuePenguin, there were 70,000 credit card fraud complaints in 2015 alone. This represents a 41 percent growth rate over 2014, even with the rise in EMV usage supposedly bringing a shift toward online crime and away from standard card fraud methods.

Using national information, the source ranked each of the states based on the number of per capita fraud complaints per 100,000 in each one. Of these, the highest belongs to Florida, with 42.54 complaints for each of these groups.

The next highest is California, with 34.61 complaints, and the lowest is South Dakota, with an average of 7.98. Though the number may have been higher in Florida, California actually boasted 12,800 cases – the highest overall number.

Credit Cards.com has further information about data breaches as of 2014. Citing a Gemalto report, the source said that malicious outsiders were responsible for 55 percent of breaches, more than accidental losses and malicious insiders combined.

This source said that the U.S. was the target for 72 percent of breaches worldwide in 2014. North America in general accounted for 76 percent in the same year. Only 11 percent of the data breaches that year were about account access, and 54 percent were centered around identity theft.

Whether or not the security perils continue, businesses give their customers a better sense of security by using real applications. Starting off with PCI compliant credit card processing software shows the business is committed to performing correctly and doing the right thing for its audience.

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