The rise in credit card fraud over the last year is a cause for major concern and financial services organisations need to tighten their grip of illicit transactions fast, says SAS. A recent statement from the South African Banking Risk Information Centre (SABRIC) highlighted that credit card fraud rose by over 50% this year, the banking sector lost an additional 53% to fraudulent transactions in 2011 and the total 2011 loss to the sector amounted to R403.15 million, from R263.8 [...]