e commerce fraud

Journal of Internet Banking and Commerce
An open access Internet journal (http://www.arraydev.com/commerce/jibc/)
Journal of Internet Banking and Commerce, December 2009, vol. 14, no.3
(http://www.arraydev.com/commerce/jibc/)

The Role of IT/IS in Combating Fraud in the Payment Card Industry
Jan Devos
Lecturer at the Ghent University Association, Howest Kortrijk, Belgium
Graaf Karel de Goedelaan 5, 8500 Kortrijk, Belgium
Author 's Personal/Organizational Website: www.pih.be/opleiding/elektronica/~jdv/index.aspx Email: [e-mail]
Jan Devos is currently lecturer in Information Systems, IT Management, IT Security and
E-Business. He holds a master degree in Engineering and Applied Mathematics and an
MBA. He had his own consulting company and conducted more than 50 expert opinions on litigation of IS failures. His current research interest are IT Governance in SME’s and
IS failures. He has a broad experience as a practitioner in Information Systems
Management and Project Management as well as an Executive Professor.
Igor Pipan, MBA
Risk Manager, NLB Tutunska banka AD Skopje, Skopje, Macedonia
Vodnajnska 1, 1000 Skopje, Republic of Macedonia
Author 's Personal/Organizational Website: www. nlbtb.com.mk
Email: [e-mail]
Igor Pipan is a risk manager at NLB Tutunska banka AD Skopje, involved in fraud prevention related activities in the banks card business. He has been part of the implementation of almost all of the banks card protective systems and is still working in that field.

Abstract
The vast growth of the payment card industry (PCI) in the last 50 years has placed the industry in the centre of attention, not only because of this growth, but also because of the increase of fraudulent transactions. The conducted research in this domain has

JIBC December 2009, Vol. 14, No. 3

produced statistical reports on detection of fraud, and ways of protection. On the other hand, the relevant body of research is quite partial

References: Alaric, (2007), ‘Card fraud detection - Comparison of detection technologies’, p. 1-4, [Electronic], PDF. APACS, (2006), ‘The card transaction process’, presentation p. 1-2, [electronic]. APACS, (2007), ‘Fraud – the facts’, PDF p. 4-5, [electronic]. APACS, (2008), ‘2008 fraud figures announced by APACS’, [Online], Available: http://www.apacs.org.uk/09_03_19.htm. Barclaycard, (2009), ‘Credit Card Fraud’, [Online], Available: http://www.barclaycard.co.uk/ personal-home/credit-guidance/fraud-guide/what-iscredit-card-fraud/index.html. Barge, B., (2002), ‘Smart Cards’, [Online], Spring 2002. EMVCo, (2009), ‘The EMV 4.2 Specification books’, Available: http://www.emvco.com/specifications European Commission, (2008), ‘Report on fraud regarding non cash means of payments in the EU: the implementation of the 2004-2007 EU Action Plan’, p FPEG, (2009), ‘Fraud in non-cash means of payment’, [Online], Available: http://ec.europa.eu/internal_market/fpeg/non-cash_en.htm. JIBC December 2009, Vol. 14, No. 3 Maes, S., Tuyls, K., Vanschoenwinkel, B., Manderick, B., (2002), ‘Credit Card Fraud MasterCard, (2009), ‘Corporate Overview’, [Online], Available: http://www.mastercard.com/us/company/en/docs/012109CorporateOverview.pdf. Myers, M. D., (2008), ‘Qualitative Research in Information Systems’, [Online], Association for Information Systems, Available: http://www.qual.auckland.ac.nz/. PCI Security Standards Council, (2008), ‘PCI Quick Reference Guide’, p. (4, 6, 7, 1224), [Online], Available: https://www.pcisecuritystandards.org/pdfs/pci_ssc_quick_guide.pdf. PCI Security Standards Council, (2008), ‘Payment Application Data Security Standard’, v PCI Security Standards Council, (2009), ‘PCI Encrypting PIN Pad (EPP) Security Requirements’, v PCI Security Standards Council, (2009), ‘PCI POS PIN Entry Device Security Requirements’, v U.S. Census Bureau, (2009), ‘Credit Cards—Holders, Number, Spending, and Debt, 2000 and 2006, and Projections, 2010’, [Online], Visa, (2009), ‘Visa Inc Corporate Overview’, [Online], Available: http://www.corporate.visa.com/av/pdf/Visa_Inc_Overview.pdf. Visa Canada, (2009), ‘How VbV works’, [Online], Available:http: //www.visa.ca/en/merchant/ products/vbv/howitworks.cfm. Woolsey, B., (2008), ‘Credit card 'phishing ': What it means, how to prevent it’, [Online], Available: http://www.creditcards.com/credit-card-news/phishing-credit-card-scamfraud-1282.php [June 20, 2009]. Yin, R. K., (2004), ‘Case Study Research, Design and Methods’, 3rd ed. Newbury Park, Sage Publications.