US $200 Million in credit card fraud…..mobile money may have worse impacts as well

 US $200 Million in credit card fraud.....mobile money may have worse impacts as well

This news item was reported very reported on 6Feb 2013. A 200 million US dollar credit card fraud can only point to the fact that applications like mobile money are even more vulnerable to fraud, and hence there is a definite need of ensuring safety nets for such applications. Real time fraud detection software is definitely the need of the hour.
The real trouble with mobile money is the low value of transactions, and hence it is definitely possible to surf below thresholds while creating havoc in terms of fraud.

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