Report: Mobile payments' convenience can increase fraud risk

While advances in mobile technology are making "anywhere, anytime payment" easier, KPMG's forensic partner, Hitesh Patel, maintains it also increases opportunities for fraudsters to identify and target victims. "With the number of mobile purchases expected to grow as use of smart-devices continues to climb, consumers must take greater responsibility for security," says Patel, "they should begin by switching off data connections when they are not needed and end with a more robust approach to password protection. Speed of payment may define the customers' experience in a data-driven world, but if it is followed by fraud, satisfaction levels will plummet as consumers look for someone to blame." Release