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Bank services (1)
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To ask the Secretary of State for the Home Department what steps he is taking to make banks responsible for fraudulent transactions online.
To ask the Secretary of State for the Home Department what steps he is taking to make banks responsible for fraudulent transactions online.
Asked by
Margaret Moran
(Labour)
Answered by
Lord Coaker
(Labour)
Answering body
Home Office
Type
Written questions
Status
Answered
Tabled on
15 January 2007
For answer on
17 January 2007
Answered on
18 January 2007
Rules which cover responsibility for meeting the cost of fraudulent online transactions are made by the card schemes and are matters for individual merchants and their banks. This is not something in which the Government would intervene.The Government take the problem of card fraud very seriously and work closely with the finance and retail sectors and the police. The Home Office is represented on an industry-led Steering Group which aims to tackle ‘Card Not Present’ (CNP) fraud (which includes online fraud). We support practical measures being introduced by the industry to increase levels of security for internet transactions. These include Address Verification Services (AVS) and Card Security Code (CSC), along with Mastercard Secure Code and Verified by Visa which require password verification for internet transactions.
Subjects
Bank services; Fraud; Internet
Date
18 January 2007
Reference
116712; 455 c1288W
House
House of Commons