Fraud Detection

Credit card fraud costs the industry about a billion dollars a year, or 7 cents out of every $100 spent on plastic. But that is down significantly from its peak about a decade ago, Sorrentino says, in large part because of powerful technology that can recognize unusual spending patterns. --- Margaret Webb Pressler. The Washington Post (September 29, 2002)

More than 15,000 mobile phones are stolen each month in Britain alone. According to Swedish cellphone maker Ericsson, the fraudulent use of stolen mobiles means a loss of between two and five per cent of revenue for the network operators. --- New Scientist Magazine



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