Literature Review Assessment Brief

This literature review assessment brief discusses the influence of an article on later research and theories regarding photographs, credit cards, and fraud. It analyzes the accuracy of supermarket cashiers in identifying whether credit cards with bearer's photographs depict the actual person. The article concludes that introducing photographs on credit cards has a limited effect on detecting fraudulent activities. The findings of this article have played a critical role in subsequent research on credit card fraud detection solutions.

Literature Review Assessment Brief

Table of Contents
Article: Kemp, R., Towell, N., & Pike, G. (1997). When Seeing should not be Believing:
Photographs, Credit Cards and Fraud. Applied Cognitive Psychology, 11, 211-222.....................1
REFERENCES................................................................................................................................5

Article: Kemp, R., Towell, N., & Pike, G. (1997). When Seeing should not be
Believing: Photographs, Credit Cards and Fraud. Applied Cognitive
Psychology, 11, 211-222
Today, with increase in digitalisation, especially in terms of online or cashless transactions,
the risk of financial frauds has become one of the most concerning issue. A fraudulent online
transaction happens when one's bank account, through debit or credit card could be used by
others, through phishing, e-mail spoofing, or cloning one's card, where users instead of paying
case while shopping use credit cards (Boden, Maier and Wilken, 2020). So, it makes essential for
cashiers in supermarket to identify whether photographs on cards represents shoppers that
presented them or not, for stopping such activities. Considering the continuous increase in
fraudulent activities, a number of researches have been carried out yet, to analyse performance or
accuracy of supermarket cashiers in reducing chance of financial frauds (Rima and et. al., 2020).
One of such article “When Seeing should not be Believing: Photographs, Credit Cards and
Fraud”, is critique here, for analysing its influence on later researches and theories, based on
recognition of faces from CCTV and identify cards.
Fraud defines as a criminal activity which affects the economy and people who bears the
same. It describes any product or services which is unauthorised or misused by others. With
rapid development of digitalised banking services to increase cashless services, such as credit
card which gives advantages to people to shop and spend money on daily purchase by lending
credit from banks for some limited period (Kramer, Mohamed and Hardy, 2019). But increasing
usage of credit card raise issues regarding with cases of losing or misusing by someone. Fraud
people without compensation, uses credit card information for obtaining the devices or products,
through unlawful activities like the credit card bribery system (Roeckert, Kim and Lorenz, 2019).
Therefore, considering such facts where increasing in such fraudulent activities impact
negatively on economic state, a research was carried out by Kemp, Towell and Pike (1997).
Reviewing their article, it has been evaluated that identity cards might include a photograph of
bearer, which helps them in preventing from any fraudulent use or personation. In U.K. market,
to provide security to bearers while availing credit card, many financial companies have
launched photo‐credit cards that might help in preventing the fraudulent use of them. The
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researchers under this article describes overall field study in context with utility of photo‐credit
cards, to assess its accuracy by determining if supermarket cashiers can identify whether credit
cards having bearer’s photograph depicted the person who tendering them or not (Soomro and et.
al., 2019). So, their study demonstrates results that task of matching bearer’s photograph to the
card holder is much more difficult as seems to be expected, even within optimized conditions, it
gives poor performance. It has been concluded from researchers’ point of view, that introduction
of photographs of bearers on credit cards seems to have less effect on detection of fraudulent
activities at the point of sale.
Introduction of national ID card with a photograph of card holder is expected to begin in
2009 in UK by following the consolidation of Identify Cards 2006. Passports of UK already
consists a digital Xerox of the individual. Main purpose behind this is that image files are
machine readable and help in compare to the traveller’s face (Boden, Maier and Wilken, 2020).
Due to several reasons the beginning of machine systems fails to offer an effective solution to
face identification. Firstly, use of face recognition system in the past fails to offer optimistic
solution. Under condition of highly restricted and to deal with cooperative individual’s today’s
system are not appropriate. In case when conditions are not under control and when cooperation
is not financially sound accuracy of these systems falls. Further, systems are designed to
decrease the number of errors in order to ensure that fraudulent documents are not acceptable
(Rima and et. al., 2020). All this helps in generate a great number of false positive errors which
challenge legal documents. One of the main task behind rechecking all rejected photo ID
document then fall of human workers that require to take final decision in every case. Further,
development of technical solution help in deal with limited number of case in which photo
recognition is used. Other than this, some security checks in various places such as airports, may
use the best technology available for face identification and to take decisions such as routine
identification. Similar findings as done in chosen article, have been reported in studies regarding
with pair-wise face recognising or matching by using poorer-quality stimuli like CCTV images,
CCTV and even live recognition. As per perception of Soomro and et. al. (2019), usage of CCTV
surveillance of comparable quality in context with footage available in most of the supermarkets
and stores. For this purpose, further researches have done to explore the recognition rates of
respondents who were asked for comparing stills from the footage with the high-quality targets
in in a one-to-one matching task. So, it gives outcomes in terms of higher error rate regardless
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with number of distractors, including accuracy that are ranged with CCTV images from
broadcast-quality footage.
In this regard, considering the development in digitalisation and actions taken by banks and
government, to prevent credit card services from any kind of fraud, it has been analysed that
theories covered in the article given by Kemp, Towell and Pike (1997), quite prove beneficial. It
has put attention of media, card holders and economists, to take steps for prevention of same
(Kramer, Mohamed and Hardy, 2019). Along with this, as the outcomes of present article depicts
that launching credit cards having bearer’ photographs not prove effective, in terms of reducing
loss to consumers and merchants, even for financial institutions, who face same pressure to
provide security to them. Therefore, investigators after publishing of this article, has made the
outcome of this previous research as base of assumptions of current study, to examine and
conduct in-depth survey on the same. In addition to this, taking theories of this article as a base,
further financial institutions concern more on collecting the vast amounts of data in introducing
innovative features to make online banking services more secure and safe, by using such data to
detect the fraud patterns as well as in determining future trends and probabilities (Roeckert, Kim
and Lorenz, 2019). Although the predictive analytics on the basis of previously conducted
researches, won't reveal what kind of fraud could be happened, within an acceptable degree of
reliability. So, a number of fraud management system, is designed for using predictive models
which are based on various payment transaction data including consumer profiles. Using the
historical data given in searched article and combines with insights of other scholars, analytics
and economists seem able to predict events regarding with future fraud, so that timely serious
actions can be taken for avoid and mitigating the same.
According to the viewpoints of Kramer, Mohamed and Hardy (2019), it has further
evaluated that all the information in the chosen articles has played a critical role in later research
to conduct study on credit card fraud detection solution, by seeing the story behind it. Despite of
going through transactions for determining extent of fraudulent activity, analysts or researchers
use this information in terms of research material for supporting government or financial
institutions in developing the automated fraud detection algorithms (Rima and et. al., 2020).
Now, fraud analysts work more on optimising the performance of tracking trends, supermarket
cashier and performing system updates to evaluate their contribution in reducing the chance of
occurrence of fraud in usage of credit card services. In this regard, through all over the
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discussion, it has been evaluated that fraudulent activities related to misuse or stolen of credit
card faced by card holders from last few decades, is one of the major issues (Boden, Maier and
Wilken, 2020). Due to such fraudulent activities and sensitive information present in the given
article, people avoided to avail credit card from banks that put negative impact on financial
institutions and overall economic condition of nations. Discussion made in chosen article on
different fraudulent detection as well as poor performance of techniques used in supermarket, aid
government and banks to take steps in improving the security for account holders from fraudsters
in future for avoiding the illegal activities.
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REFERENCES
Books and Journals
Boden, J., Maier, E., & Wilken, R. (2020). The effect of credit card versus mobile payment on
convenience and consumers’ willingness to pay. Journal of Retailing and Consumer
Services. 52. 101910.
Kramer, R. S., Mohamed, S., & Hardy, S. C. (2019). Unfamiliar face matching with driving
licence and passport photographs. Perception. 48(2). 175-184.
Rima, D. & et. al. (2020). A longitudinal assessment on the development of financial fraud
offending. Journal of Financial Crime.
Roeckert, P., Kim, D. Y., & Lorenz, M. (2019). Online Payment Systems: Are We on the Same
Page?. Journal of International & Interdisciplinary Business Research. 6(1). 102-114.
Soomro, Z. A. & et. al. (2019). Investigating identity fraud management practices in e-tail sector:
a systematic review. Journal of Enterprise Information Management.
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