Citicorp says it has turned corner in effort to stem credit card fraud

Citicorp is using several techniques to counter credit card fraud. For example, the company alerts card members before and after the time their card should arrive. In addition, Citicorp verifies whether the correct person has received the card before activating it. The company uses several other fraud prevention techniques, such as printing the member's photograph on the card or assigning each card an individual number apart from the account number. These methods have allowed the company to begin to decrease Citicorp credit card fraud. Overall, such fraud increased 46% to $3.82 billion in 1992 over 1991 figures.
NEW YORK -- In an encouraging sign for the credit card industry, the nation's biggest bank card issuer is reporting progress in the battle against fraud. 'We have halted the [...]