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Banks, telcos, e-commerce players hurt the most by fraud: report (Amended)

Fraud prevention specialist Experian singles out credit card fraud as key threat for Singapore, and online banking fraud for Malaysia

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Nick Wilde, its Asia-Pacific head of fraud and ID, as well as decision analytics, told The Business Times that credit card fraud was the key threat in Singapore and Australia, while credit application fraud poses a huge problem in Indonesia, and online banking fraud for Malaysia and China.

Singapore

FINANCIAL services, telecommunications and e-commerce are the three industries that incur the most losses due to fraud and identification (ID) thefts in the region.

And the cost of fraud on businesses is projected to rise, driven by growth in the use of the Internet,

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