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In recent years, growing losses from fraud have cost financial institutions millions upon millions of dollars. According to Visa International, gross fraud from debit and credit cards is up 29% in 2005 over 2004. TowerGroup predicts that fraud from debit cards alone will surpass $1 billion USD in 2006. Fraudsters have become more sophisticated, more organized and more international in scope than ever before. Financial institutions are under attack on a daily basis and continue to experience losses even with various fraud control mechanisms in place.

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