Tackling card fraud
Gardai from the Garda National Economic Bureau have teamed up with retailers in a bid to combat ‘card not present’ fraud in Ireland. This form of fraud occurs when a payment card isn’t physically presented during a phone or online transaction.
In the first six months of 2016, card fraud totalled €20.8 million, with a card not present in 78% of cases. Irish consumers are being warned to take a number of steps to protect themselves when shopping online.
“Our advice to Irish consumers to help prevent their cards being compromised is to always buy from trusted sources, use credit cards when purchasing things online, never send money upfront to an online seller, and never send your card number PIN or other information to anyone by email,” said Detective Garda Jim O’Meara.
Happy birthday ATM
This week the automated telling machine, otherwise known as the ATM, celebrates its 50th birthday. The brainchild of John Shepherd Barron, and inaugurated at the Barclays Bank Enfield Branch in London on June 27th 1967, more than 3 million ATMs have been installed around the world. These days it’s hard to imagine the world without them.
Squeezing the middle
Finally, a million Irish adults are under huge pressure to meet childcare and college costs, according to Aviva Ireland’s Family Finances report. The report, which provides ‘a snapshot of the financial health and well-being of households across Ireland’ notes that a large chunk of Irish citizens are struggling to meet ends meet, particularly those between the ages of 35 and 54 – the ‘squeezed middle’. Just under on million people, however, believe that they are comfortable financially speaking,
”Our findings tell a tale of two recoveries: those who are feeling the upswing in their own finances and those who continue to struggle,” said Ann O’Keeffe, Head of Individual Pensions and Investments. “Worryingly, 70% of the million who struggle see no prospect of improvement in their circumstances. On the upside, 1.5 million are optimistic about their future.”