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Lessons from the Cosmos Bank attack: How to stop fraudulent transactions before they take place

September 18, 2018

India's Cosmo Bank recently lost millions through simultaneous ATM withdrawals and unauthorised transactions over the SWIFT network. What's most shocking is how little the payment industry reacted to this news. James Richardson examines the disconnect companies are facing over their fraud protection, and what little steps can be put into place to ensure this type of thing doesn't happen.

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