Could a device that reads your blood stop bank fraud
A new finger scanner that uses a person’s veins to verify their identity has been unveiled by Barclays bank. Consumer champion James Daley asks if the new technology could stop online hackers in their tracks.
Last year, the British banking industry lost a little over £450 million in card fraud – a greater amount than in any year aside from 2005, 2007 and 2008.
Although the introduction of chip and PIN technology has greatly reduced the amount of counterfeit card fraud, the majority of fraud continues to take place online.