Smart card security solutions represent a vital element of this because more payments than ever are made by card, and they are also increasingly relied upon to provide secure access, or to verify identity. These applications, and the availability of card cloning technology, mean that cards are frequent targets for attempts at fraud.
The threats businesses face from cybercrime continue to grow. According to the most recently available statistics, some $600bn (~€500bn) was lost in 2016 to illegal online activities and cybercrime. As the capabilities of online criminals continue to expand and evolve, smart card security solutions are needed which can not only respond to but anticipate threats.
What can be done to prevent card fraud?
This booklet explains why high security capabilities, cost-effectiveness and convenience are the three most vital factors when it comes to finance, access and ID cards, particularly in light of growing cybercrimes – including hacking and cryptocurrency theft – and other digital threats.
CardLab was founded in 2003 in Copenhagen, Denmark, and has undertaken extensive research in smart card security solutions, including onboard biometric authentication, for more than a decade. As one of the leading providers of highly secure payment, access and ID cards, the company’s efforts are combatting cybercrime and preventing businesses and individuals from falling victim to fraud.
What makes new smart card security solutions more secure?
In this booklet, CardLab outlines a number of the smart card security solutions it offers, which protect card users from online criminal activities, provide easy GDPR compliance and privacy protection, and can seamlessly integrate with existing systems. This makes these products easy to implement and use, while providing a high level of security adapted to respond to evolving and emerging threats.
The company goes on to explain in detail the security problems currently faced by card issuers, and suggests a number of valuable solutions for a variety of smart card security applications. New features such as biometric identification and smartphone geolocation can add crucial levels of security to e-banking – both for individuals and businesses – e-commerce and more.