Technology in treasury management: Technology review 2010

Also in this section: Controlling fraud – payment cards Controlling fraud – Digital Indentities Minimizing reputational risk Improving connectivity Automating bank relationship management Treasury Management – Efficiency and compliance Treasury Management – In-house versus ASP and SaaS solutions

Although the annual cost of fraud worldwide is now trillions of dollars, most banks and companies still fail to realize the full extent of its impact on their businesses. Early results from VISA Europe’s new Total Cost of Fraud model, which also includes the costs of prevention, detection, investigation and recovery, for its member banks’ card payment services, show its member banks dramatically under-estimate the cost of payment card fraud at around only 30% of its actual value.