News

Cardholders are advised to be vigilant following a recent increase in the number of incidents of Cash Trapping at ATMs

December 10th, 2010

IPSO Card Services

The Irish Payment Services Organisation Ltd. (IPSO) advises cardholders to be vigilant following a recent surge of incidents whereby cash being dispensed at ATMs is being trapped by fraudulent devices, placed there by criminals.

‘Cash trapping‘ occurs when an ATM withdrawal operates as normal and customers may even hear the cash being dispensed, however the cash is not actually ejected from the machine because a criminal has used a small device to retain it, inside the ...

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IPSO Retailer Seminar. PCI DSS Explained. 2nd September

August 24th, 2010

IPSO Card Services ran a retail seminar on the 2nd of September at the Institute of Bankers, to help explain what PCI DSS is all about.

Payment Card Industry Data Security Standards, or PCI DSS, are mandated by the global card schemes for any shop that accepts payment cards either in a face to face environment or via the internet, telesales or mail order. IPSO's aim during the seminar was to share as much information as ...

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IPSO renews appeal to cardholders to keep PINs safe

June 24th, 2010

IPSO renews its appeal to cardholders to keep PINs secure

24th June – The crime of card skimming at ATMs has reared its ugly head again, with a number of Eastern European criminal gangs becoming active in the past couple of months, for the first time since early 2009.

Amounts of up to €60k have been absorbed by individual banks already this year due to the reappearance of this crime. While the majority of ATMs in Ireland now ...

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IPSO Card Services Fraud Prevention Members’ Seminar

May 20th, 2010

IPSO Card Services holds Fraud Prevention Members' Seminar

The IPSO Card Services Fraud Prevention Members' Seminar drew speakers from a range of industry backgrounds providing insight on enterprise fraud and recent fraud trends while focusing on e-crime prevention. The seminar attracted a record attendance level and feedback to date has been very positive.

In 2009 the total value of fraud lost to the retail banking industry is estimated to have cost approximately €16.7million. Chip & PIN continues ...

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Response to Claims from the University of Cambridge that “Chip & PIN is Broken”

May 3rd, 2010

The BBC ran a programme in April in which individuals from the University of Cambridge claimed that Chip & PIN is broken. It is our opinion that the complex method shown by individuals from the University would not be practical in reality in Ireland.

Similar claims were issued by the Cambridge team just prior to the roll out of Chip & PIN in 2004 in which it claimed that Chip & PIN would not work. This ...

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“Phishing” Warning from the Irish Payment Services Organisation (IPSO)

January 10th, 2010

A number of instances of the e-mail scam called "Phishing" have been reported in recent days. Phishing is the practice of sending bogus e-mails which appear to come from major banks or corporations and carry links to bogus replica websites. The object of the scam is to lure consumers into parting with personal information such as bank account or credit card details under the pretence that the consumer is dealing with a reputable company. Account ...

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