The head of the National Online Retailers Association (NORA), Paul Greenberg said financial banks need to feel the financial sting from surging online payments fraud, to stop them from passing losses onto merchant victims. With online fraud having leapt to $476 million in the 2017 calendar year, a spike of 14 percent, online payments fraud is now a whopping 85 percent of all payments fraud in Australia. New measures such as Two-factor authentication and rules are outlined.
https://www.itnews.com.au/news/retailers-demand-banks-share-476m-online-fraud-hit-500677
