Credit Card News James Bond Style Security Could Protect Your Credit Cards 8477750

James Bond-style security could protect your credit cards

12 May 2005
As the world wises up to the increasing problem of identity theft and attacks on internet shopping and banking services, state-of-the-art new security measures could be put in place to protect your credit cards.

Research commissioned by Fujitsu Services has found that one in three UK citizens would like banks to introduce biometric security to help stamp out card fraud.

Biometric techniques use the make-up of the body to create an entirely personalised, unique security system that protects the card-holder.

Cash machines using a biometric system to check the pattern of blood vessels in a customer’s palm against the pattern stored in the system or on the card are already being used to reduce card fraud in Japan.

“UK banks need to draw on the experience of other financial institutions around the world if card fraud in the UK is to be reduced,” said Ann Hosford, business development manager for financial services at Fuijtsu Services.

“Biometric security can be used to build customer confidence and to reduce PIN theft.”

The research also discovered that almost one in three people (29 per cent) are put off using online banking services because they are worried about security.

A new government standard was announced last month to help battle online credit card fraud. The Payment Card Industry Data Security Standard will come into effect from June 30th.

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Written by Editorial Team