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First Data Looks at Fraud Trends: "Fraud as a Service"

First Data Corp.A new white paper titled "Fraud Trends in 2010: Top Threats From a Growing Underground Economy" by Rick Van Luvender Director, First Data InfoSec Incident Response Center, First Data Corp. is now available.

Interestingly, he writes: "...just as corporate IT managers have come to rely on the Internet to satisfy on-demand software needs in the form of Software as a Service (SaaS), so has the underground economy developed a similar infrastructure for delivering Fraud as a Service (FaaS), according to fraud experts from the InfoSec Incident Response Center at First Data."

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