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On March 29, 2018, the U.S. Board of Governors of the Federal Reserve System announced that it is undertaking a study that will begin this month with respect to fraud in the U.S. payments system.
within Law Department Performance, Insolvency/Bankruptcy/Re-Structuring and Consumer Protection topic(s)
with readers working within the Retail & Leisure industries
On March 29, 2018, the U.S. Board of Governors of the Federal
Reserve System announced that it is undertaking a study that will
begin this month with respect to fraud in the U.S. payments system.
The study will identify causes and contributing factors to fraud in
the U.S. payments system, such as payment security vulnerabilities,
and will measure the costs associated with such fraud. The study
was commissioned as part of the Federal Reserve Board's Next
Steps in the Payment Improvement Journey paper that was released
last year. A global management consulting firm will conduct the
study, which is expected to last up to six months. The study is
intended to provide data to assist the Federal Reserve with its
collaboration with the payments system industry with respect to the
security of the payments system.
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