Mobile fraud take a dive

MOBILE banking fraud has been reduced since last year with greater controls in place, says Bank of South Pacific Group chief executive Robin Fleming.
“Non-lending losses did reduce during 2017,” he said.
“We have put a lot of effort into additional controls associated with our mobile banking.
“We have introduced a new platform which gives BSP greater visibility and control while also over our mobile banking platform.
“It also allows us to have more real time assessment on transactions which potentially could be fraudulent.”
“There is much less fraud in mobile banking in 2017 and continues to taper off. But unfortunately though like many businesses in PNG we do continues to experience frauds notwithstanding many of the controls we have put in place to prevent those frauds.”