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Banks Pay Up; Don't Bother To Investigate Cybercrime




Banks and online merchants feel it is cheaper to pay customers claims of online fraud rather than investigate the claim or secure their systems. Even with the skyrocketing rate of information theft banks and lenders are simply compensating their customers for fraudulent charges. More than half of financial institutions, 52%, pay off their customers claim without conducting any kind of investigation whatsoever. The rate of pay off in Western Europe is 54%.

Read Full Story: http://africanamericancyberreport.com/2014/07/bank...

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