Banks Question Gartner's ATM/Debit Card Fraud Report
Some bankers are questioning the ATM/debit card fraud report issued yesterday by Gartner's Avivah Litan that estimated $2.75 billion in fraud losses in the last 12 months.
Nessa Feddis, senior federal counsel at the American Bankers Association said that Banks have reported $US700 million in fraud from debit cards and personal checks in 2003 and that figure has since fallen.Ms Feddis said the 32 largest banks have all verified magnetic-stripe information during the period covered by the report. "It seems to be rather dated information," she said.
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