The 8 Different Types of Card Fraud

The payments industry has long been creating new innovations to combat fraudsters in order to create a secure environment for financial transactions. From holograms and the tamper-evident signature panel to card validation codes and EMV chip, many of these security advances have become industry standards.

However, they can’t do it alone. Along the way, consumer education remains a key part of the strategy to protect cardholder account information and to help banks and merchant businesses prevent losses due to payment card fraud.

Keeping consumers informed about what they can do to protect themselves is a crucial preventive measure in the evolving global and regional fraud landscape. A good start is in understanding the different kinds of fraud associated with debit and credit card transactions — there are eight major kinds.

• The first category, lost or stolen cards, is a relatively common one, and should be reported immediately to minimize any damages.
• The second is called “account takeover” — when a cardholder unwittingly gives personal information (such as home address, mother’s maiden name, etc.) to a fraudster, who then contacts the cardholder’s bank, reports a lost card and change of address, and obtains a new card in the soon-to-be victim’s name.
• The third is counterfeit cards — when a card is “cloned” from another and then used to make purchases. In Asia Pacific, 10% to 15% of fraud results from malpractices such as card skimming but this number has significantly dropped from what it was a couple of years prior, largely due to the many safety features put in place for payment cards, such as EMV chip.
• The fourth is called “never received” — when a new or replacement card is stolen from the mail, never reaching its rightful owner.
• The fifth is fraudulent application— when a fraudster uses another person’s name and information to apply for and obtain a credit card.
• The sixth is called “multiple imprint”— when a single transaction is recorded multiple times on old-fashioned credit card imprint machines known as “knuckle busters”.
• The seventh is collusive merchants — when merchant employees work with fraudsters to defraud banks.
• The eighth is mail order/telephone order (MO/TO) fraud, which now includes e-commerce, and is the largest category of total payment card fraud in Asia-Pacific, amounting to nearly three-quarters of all fraud cases. The payments industry is working tirelessly to improve card verification and security programs to prevent fraud in so-called “card-not-present” transactions online or via mail order and telephone transactions.

While consumers can rest assured that measures such as a Zero Liability policy protects them from unauthorised transactions in digital and electronic payments, they ultimately have a role to play as well. Knowing how fraud happens is a good way to take steps to prevent it.

Staying vigilant about protecting your personal information can also greatly reduce risk of theft or fraud — an important and necessary step in today’s digital world. While credit and debit cards have built in protections, the first line of defense really starts with the cardholder.

Do you think cardholders do enough to safeguard their data and themselves from fraud?

This piece first appeared on BankITAsia.com, Computerworld.com.sg, Computerworld.com.my, cio-asia.comand mis-asia.com on October 27.  

Classification of vitamins

•  ASSGNMENT ON:CLASIFICATION OF VITAMINSSubmitted by: Waqas NawazSubmitted to:Dr.Muhammad Farooq IqbalSubject:Pricipal of animal nutritionAN (102)
• 2. VITAMINS CLASSIFICATION VITAMINSWater soluble vitamins include ii) Fat soluble vitamins include Vitamin C also called citric acid Vitamin A ( Retinol) Vitamin B1 (thiamine) Vitamin D Vitamin B2 (Riboflavin) Vitamin B3 (niacin) Vitamin B5 (pantothenic acid) D2 (Ergocalciferol) D3 (Cholicalciferol) Vitamin B9 (folic acid) Vitamin B6 (pyridoxine) Vitamin E (Tocoferol) Vitamin B12 (cobalamin) Cholin Biotin. Alpha Beta Gama Vitamin K K1 (Phylloquinone) K2 (Menoquinone) K3 (Menodione)
• 3. Vitamin ClassificationThere are mainly two types of vitamins Vitamin B2 (Riboflavin)classified based on their solubility. Theseare water soluble and y not fat soluble Function: It is involved in metabolism ofvitamins. carbohydrates, protein, fats Deficiency:(1) Its deficiency cause i) Water soluble vitamins dermatitis include:  The contain C,H,O and may (2) In poultry it causes curled-toe paralysis contain S and Co  They are not stored in body  They are secreted into urine Vitamin B3 (niacin)  They not cause toxicity It is also called nicotinamide  They cannot synthesized by body Function: It is involved in metabolism  They are not dietary essential Deficiency: Its deficiency cause pallegra (Disorder of digestive system)Vitamin C also called citric acidFunction: It is used as anti stressDeficiency:no known deficiency in Vitamin B5 (pantothenic acid)animals.They can synthesize by digestive Function: It is involved in metabolismmicrobes. Deficiency: It deficiency cause dermatitisVitamin B1 (thiamine)Function: (1) They work as co-enzyme Vitamin B9 (folic acid) Function: It is involved in the synthesis of(2)they help in metabolism of carbohydrates, methyl groupprotein,fats Deficiency: Its deficiency cause anaemiaDeficiency:Its deficiency cause beri-beriIt also cause polyneuritis and star-grazing inpoultry

• 4. Vitamin B6 (pyridoxine) Fat soluble vitaminsFunction: It is involved inmetabolism include  They containDeficiency: Its deficiency causes C,H,Oepilepsy and convulsion(jerks)  They are stored in the body  They are secretedVitamin B12 (cobalamin) into faeces  They causeFunction: It is invoved in metabolism toxicityDeficiency: Its deficiency cause slow  They are notgrowth and less reproduction synthesized by body but sometimes synthesized  They are dietaryCholin essentialFunction: It is involved in lipid metabolism  General source for fat soluble vitamin It is part of lecithin are green pasture,Deficiency: Its deficiency cause fatty liver green fodder, green leafy hay, fish liver oil, yellow corn Biotin. grains, sunlightFunction: It is also invoved in metabolismDeficiency: Its deficiency cause dermatitis
• 5. Vitamin A Deficiency: Its deficiency cause osteomalcia and rickets  It is also called retinol  Its requirement is expressed in IU Vitamin EFunction: It is also called tocoferol.It helps in maintaining eye sight It is present in 3 forms alpha, beta , gama(2) It increases conception rate Function Deficiency: Its deficiency cause night (1) It helps in immune systemblindness (2) It also help in reproduction(2) Its deficiency also causes poor Deficiency: Its deficiency cause whiteconception muscle disease and muscle dystrophy( weakness)Vitamin D Vitamin KIt is in two forms It has three formsD2: Ergocalciferol K1: PhylloquinoneIt is mostly present in plants K2: MenoquinoneD3: cholicalciferol It is naturally presentIt is synthesized by animal body in K3: Menodionesunlight It is artificially synthesized.Function:(1) It helps in bonedevelopment Function: It helps in blood clotting(2) It also help in to maintain mineral Deficiency: Its deficiency causebalanced in the body hemophilia and sweet clover disease.

The Unfortunate Truth About Your New Chip Credit Card

By Matt Schulz, Senior Industry Analyst for CreditCards.com

Call it chip-and-meh.

This weekend, a shiny little technological marvel appeared in my mailbox. It's my new-and-improved Delta SkyMiles American Express card.

How is it improved? It has an EMV chip.

These chips -- which store your data and replace the card's traditional magnetic stripe -- make it harder for hackers to make a counterfeit copy of your credit card if they steal your account information. The chips generate a unique code for every transaction so if fraudsters steal data from a retailer, they won't be able to use that information to make future purchases. And the chips have become the standard in most of the credit-card-accepting world, leaving the United States as the only major economy that still relies on magnetic stripes.

In these post-Target-breach days of heightened worry about credit card fraud, the arrival of EMV (which stands for Europay, MasterCard and Visa -- the card companies that spurred its creation) in America is a big deal. After all, about half of the world's credit card fraud reportedly happens in the U.S., due in large part to our preference for mag stripe cards.

With that in mind, many credit card issuers have begun sending out EMV-chip-enabled cards to people like me with letters that talk about the extra levels of security that these cards provide. In June, Sam's Club became the latest to boast of its new chip-bearing card.

So this is great news, right?

Again, meh.

Let me explain ...

Say I take my little boy to the local sporting goods store to get a new baseball bat. We find one that looks cool, of course, and is the right size. Then he takes a few test swings, and we go pay for it.

I pull out my card and -- unsurprisingly -- see that the card reader isn't chip-enabled. (How can you tell? A chip-enabled reader has a slot into which you insert the card, like what you might see at an ATM. If you don't see one, then the terminal's not chip-enabled.) Knowing that, I swipe my card the same way I have for years, sign and walk away, ready to help my son break in his new bat. I'm able to swipe because my new AmEx chip card still comes with a magnetic stripe on the back.

   

So I've got the best of both worlds, right? I've got the convenience of a mag stripe and the protection of a chip card.

Not really.

The problem is that because I swiped the card to make the purchase, the chip never came into play. All of the positive things that it can do remained undone. I may as well have had my old card.

That brings me to the dirty little secret of chip cards: They're awesome fraud fighters when you can use them to the fullest -- but that's pretty much impossible in America right now.

Sure, it is great that the card's chip makes it much harder to counterfeit. That is a significant step in fraud protection and shouldn't be ignored. I also understand the technology has its detractors and flaws: For example, it costs a fortune to put in place yet it doesn't really deter "card-not-present" fraud -- fraud done by folks who don't actually possess the physical card.

However, chip technology remains a powerful anti-fraud tool. Now American banks and merchants need to unleash it in full.

Here's what I mean ...

1. Get chip-card readers in stores.
Chip cards aren't any good if most places won't accept them, and that's where we are now in the U.S.

Within the next two to five years, chip-enabled card readers will be everywhere in America. That's because Visa, MasterCard, Discover and American Express have told merchants that if they haven't upgraded their equipment to read chip cards by October 1, 2015, they will be fully liable for their losses in any data breaches.

That move, plus high-profile data breaches like Target, lit a fire under merchants to update their point-of-sale terminals. But it won't happen overnight. Until then, very few merchants -- Walmart being one huge exception -- can read your chip cards. And if your chip card can't be read, then it can't generate a unique code with each transaction, thus negating one of the major benefits of the chip-enabled card.

2. Forget chip-and-signature; give us chip-and-PIN.
While most chip cards around the world are of the chip-and-PIN variety, the vast majority of chip-enabled cards produced in the U.S. (mine included) are chip-and-signature cards. There's no PIN involved. You sign for your purchase, as you always have, with your mag stripe.

That's changing. Barclays recently announced that a chip-and-PIN version of their Barclaycard Arrival Plus World Elite MasterCard is now available. USAA offers chip-and-PIN cards today, but you have to specifically request them. Chase has announced it will start issuing chip-and-PIN cards later in 2014 and Target will start issuing chip-and-PIN cards in early 2015. But it's a slow change at best, and that's a shame.

Putting a chip in a card without also attaching a PIN to it is a wasted opportunity.

Why? It's much easier to forge someone's signature than to hack their PIN. The PIN and the security that it offers are really the key to making all of this work most effectively. (Credit card fraud in the United Kingdom famously fell by more than a third after chip-and-PIN was implemented.)

In short, American Express and other banks are taking baby steps toward new fraud-prevention technology when what is needed is a full-out sprint.

While I understand that many of the steps toward full-scale chip-and-PIN implementation are out of banks' control and must be taken by merchants and others, I'm looking forward to the day when I can break out a chip-and-PIN card to pay for anything, anywhere. That's when we'll begin to see just how powerful a fraud-prevention tool this technology can be.

Until then, meh.

What is Viagra?

Viagra holds the distinction of being the first oral medication introduced for erectile dysfunction (ED) in the United States. Manufactured by Pfizer and approved by the FDA in 1998 to treat impotence in men, “the little blue pill” instantly became Pfizer’s highest-selling drug. Worldwide, the blockbuster ED drug brought in just under $2 billion for Pfizer in 2013, and doctors continue to write millions of prescriptions for the drug.
Viagra (sildenafil citrate) was conceived as a treatment for chest pain (angina) and pulmonary arterial hypertension – high blood pressure in the vessels that carry blood to the lungs. Clinical trials results showed the drug as a poor choice as a heart medication, but researchers noticed increased erections in men who volunteered for the study. Pfizer resubmitted the drug for approval to treat ED.
Erectile dysfunction affects approximately 40 percent of men by age 40 to some degree and nearly 70 percent of men by age 70, according to the Cleveland Clinic. More than 45 million have taken Viagra.

How Does Viagra Work?

 

PDE5 Inhibitor

Classified as a PDE5 inhibitor, Viagra works by blocking certain enzymes in the body, causing blood vessels to dilate and enhancing blood flow to the penis. In conjunction with sexual stimulation, the drug-induced blood flow aids in producing and maintaining erection.

Sildenafil and Pulmonary Treatment

Sildenafil is also sold under the brand name Revatio in tablet form or oral suspension form. It is approved by the FDA for the treatment of pulmonary arterial hypertension in adults, and works by dilating blood vessels that supply the lungs with blood.