PayPal launches multi-pronged attack on e-crime

"With e-crime, there's no silver bullet," says Garreth Griffith, head of UK risk management at online payment processor PayPal. "A specific initiative can have a huge impact, but it also has to be married with other initiatives along a spectrum. You can't just focus on educating users or working with law enforcement - you've got to go for a multi-pronged approach as you're constantly fighting a war against the fraud guys."

The biggest problem for financial services organisations in this context is the unauthorised use of customers' financial details and the two main threats are phishing e-mails and the theft of credit or debit cards - although the latter problem has eased since the arrival of chip and pin.

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