Nationwide Building Society says since introducing strong customer authentication (SCA) it has increased the amount of fraud cases stopped.
In Brief:
SCA rules came into force in March.
Now, all transactions online have to have two-factor authentication checks if they are over £25.
Nationwide says this has led to an increase in the number of online card fraud cases it’s stopped.
What does this mean?
In addition to monitoring success in stopping fraud, Nationwide has surveyed its customers about the new SCA rules. It's found that more than two thirds are happy to deal with the slight friction caused by SCA if it is more secure.
