MasterCard International says it has issued over 200 million MasterCard, Maestro and Cirrus smart cards globally. 40% of those smart cards carry a global EMV chip, usable at chip-enabled terminals.Business Wire
All financial institutions must now be in compliance with the FACT Act or face an $11,000 fine per violation.Reg Fact
Phishing emails were received by 50% of financial institution account holders, according to a survey done in November, 2004. Less than 25% of the same group reported phishing emails in April, meaning 100% growth of phishing attacks in six months.
Cyota Second Annual Financial Institution Online Fraud Survey, 1/10/2005
Over 50% of account holders do not sign-up for, or continue to use, their bank's online services because of fear of phishing.Ibid
44% of people who bank online use the same password for multiple banking services, and at multiple financial institutions. 37% also use the same password for non-secure sites.Ibid
79% of account holders do check for the lock at the bottom of a secure page, but less than 40% click on the easily spoofed lock to look at the security certificateIbid.
Almost 5% of account holders who received phishing emails admitted to responding and divulging information. Ibid.
Korea has more ATMs than any other country - 1,672 ATMs per one million people. Canada is second with 1,394; the U.S. is third with 1,221 (in 2002). Japan has only 827 per one million.
Credit Union Tech Talk, 2/14/2005
Though only 14% of all U.S. households are considered to have "mass affluent" cardholders, (those households with more than $100,000 annual income), they account for more than 25% of spending. Credit card companies report they also traditionally spend much more per transaction than other card holders.
Business Wire, 2/16/05
Copyright © 2005 Bankers' Hotline. Originally appeared in Bankers' Hotline, Vol. 15, No. 1, 2/05
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