FBI warns of Romance Fraud WHAT IS CONFIDENCE / ROMANCE FRAUD / SCUM? Confidence/romance fraud occurs when an actor deceives a victim into believing they have a trust relationship—whether family, friendly, or romantic—and leverages the relationship to persuade the victim to send money, provide personal and financial information, or purchase items of
Tag: cards
Online shopping: EU against geo-blocking and country redirects
MEPs have voted in favor of ending geo-blocking and country redirects by the end of 2018. any Europeans shop online on a daily basis. Whether it’s for electronics, appliances or furniture, 57% of EU citizens bought something online in 2017. Shopping online is one of the favorite activities of internet
How much energy is used in a single bitcoin transaction
itcoin transactions use so much energy that the electricity used for a single transaction could power a home for almost a whole month, according to a paper from Dutch bank ING. Bitcoin trades use a lot of electricity as a means to make verifying trades expensive, therefore making fraudulent transactions
Towards safer and more innovative electronic payments
he Commission has today adopted rules that will make electronic payments in shops and online safer. This will also allow consumers to access more convenient, cost-effective and innovative solutions offered by payment providers. These rules implement the EU's recently-revised Payment Services Directive (PSD2) which aims to modernize Europe's payment services
Antitrust: new EU rules to boost card payment transparency
The European Commission welcomes the entry into force in June 2016 of new rules to make the costs of payments with debit or credit cards more transparent to retailers and consumers and allow them to make efficient choices. All elements of the Interchange Fee Regulation are now fully applicable. Commissioner Margrethe Vestager,
ECB report: Fall in card fraud
Card fraud has been on a declining trend since 2007, thanks to technological advances that are making transactions safer. This is the main conclusion of the second report on card fraud published today by the European Central Bank (ECB). However, fraud is migrating to countries where the technology remains less
Commission investigates smart card chips cartel
The European Commission has informed a number of suppliers of smart card chips of its preliminary view that they may have participated in a cartel, in breach of EU antitrust rules. The sending of a statement of objections does not prejudge the outcome of the investigation. Almost everybody uses smart card
Commission opens investigation into card inter bank fees
The Commission has opened formal proceedings to investigate whether MasterCard may be hindering competition in the European Economic Area (EEA) with regard to payment cards, in breach of EU antitrust rules. The Commission has concerns that some of MasterCard's inter-bank fees and related practices may be anti-competitive. An opening of