Bitcoin Removes The Need For Refunding Online Card Fraud Victims
Some serious questions are waiting to be answered when it comes to dealing with online payment fraud. Most of the issues associated with credit card payments stem forth from user data being stolen, and sometimes, that is the end user’s fault.Britain’s most senior police officer feels online fraud victims should not be reimbursed by banks. Sayings like these will eventually push consumers to Bitcoin and alternative forms of finance. “No Need To Refund Online Fraud Victims”. Nothing is more annoying than seeing a credit card statement with charges for items and services the owner did not....
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ACI Worldwide, a Florida-based payment system firm, has released a study which revealed that more than one third of Singaporeans have faced card fraud since 2014. The statistic demonstrates the seriousness of the underlying vulnerabilities discovered in the security systems of credit card operators and credit card networks. Technically, when a credit card purchase is made either online or at a physical location, the private key of the credit card is retrieved by the processing party. That means, the business or person receiving the credit card payment holds the responsibility of storing....
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Onecoin victims have joined a consortium that wants the European Parliament to consider a petition seeking the establishment of a compensation fund. The envisioned EU-administered fund will function as an insurance kitty for current and future victims of all crypto fraud. The petitioners are proposing the levying of an “unnoticeable” fee of 0.0001 cent per €1 on all crypto-asset transactions conducted on EU territory. Explaining the pivot towards the European Parliament, the victims’ lawyer, Jonathan Levy, says they have now made the decision to approach the....